The first half of 2023 has become a preface, and foreign trade data has been released immediately.
On July 13th, according to the customs, the total import and export value of China’s goods trade in the first half of the year was 20.1 trillion yuan, up 2.1% year-on-year. Among them, the export was 11.46 trillion yuan, a year-on-year increase of 3.7%; Imports were 8.64 trillion yuan, down 0.1% year-on-year. On the whole, it has withstood the pressure of slowing global growth. The electromechanical “new three kinds” represented by electric manned vehicles, lithium batteries and solar cells continue to sell well. These trade imports and exports with longer industrial chains and higher added value grew faster than the whole, accounting for 1.2 percentage points of the total import and export value, reaching 65.5%. This also indicates that China’s independent trade development capacity has steadily increased.
According to the data released by the customs, the total import and export value of China’s goods trade reached 20.1 trillion yuan in the first half of 2023, up 2.1% year-on-year. Among them, the export volume was 11.46 trillion yuan, a year-on-year increase of 3.7%; Imports amounted to 8.64 trillion yuan, down 0.1% year-on-year. This shows that China’s foreign trade as a whole has maintained steady growth under the pressure of global slowdown.
Frontier technologies and emerging industries, such as electric manned vehicles, lithium batteries and solar cells, have become important driving forces for China’s foreign trade growth. These trade imports and exports with longer industrial chains and higher added value grew rapidly, accounting for 65.5% of the total import and export value, up 1.2 percentage points from last year, which reflected the continuous enhancement of China’s independent trade development capacity.
With the slowdown of global trade and investment and the complicated and severe external environment, China’s foreign trade scale broke through the 2 billion yuan mark for the first time, setting a record high. According to the General Administration of Customs, this achievement not only comes from the fading of one-off pulling factors (such as epidemic prevention materials and “house economy” products), but also benefits from the dual drive of internal economic kinetic energy and external conditions.
The promotion of the “the belt and road initiative” policy is also an important factor for China’s foreign trade achievements to achieve a milestone breakthrough. In the first half of this year, China’s trade in goods with countries along the “the belt and road initiative” reached 6.89 trillion yuan, up 9.8% year-on-year, accounting for 34.3% of the total import and export value. Compared with neighboring economies, China’s foreign trade data still shows resilience and competitive advantage.
In addition, the further development of the private economy has also had a positive impact on the basic foreign trade. In the first half of this year, the import and export volume of China’s private enterprises reached 10.59 trillion yuan, up 8.9% year-on-year, accounting for 52.7% of the total import and export value, making it the largest contributor to the total import and export value of foreign trade.
Generally speaking, China’s foreign trade has maintained a strong growth momentum in the complex global economic environment, which not only reflects the competitiveness of China’s manufacturing industry, but also marks the continuous enhancement of China’s independent trade development capacity.
Post time: Aug-01-2023