China’s foreign trade imports and exports increased by 4.7% year on year in the first five months, according to data released by the General Administration of Customs on June 7. In the face of a complex and severe external environment, various regions and departments actively implemented policies and measures to promote the steady scale and excellent structure of foreign trade, effectively seized market opportunities, and promoted China’s foreign trade to maintain positive growth for four consecutive months.
Imports and exports of private enterprises maintained a good growth trend with a year-on-year increase of 13.1%.
Since the beginning of this year, China’s economic development has shown a good momentum of recovery, providing strong support for the steady growth of foreign trade. In the first five months, the total value of foreign trade was 16.77 trillion yuan, an increase of 4.7% year on year. Among them, the export was 9.62 trillion yuan, an increase of 8.1% year-on-year; Imports reached 7.15 trillion yuan, up 0.5% year on year.
From the perspective of market players, in the first five months of this year, there were 439,000 private enterprises with import and export performance, an increase of 8.8% year-on-year, with a total import and export of 8.86 trillion yuan, an increase of 13.1% year-on-year, continuing to maintain the position of the largest business entity in China’s foreign trade.
Imports and exports in the central and western regions have maintained a leading trend
Driven by the coordinated regional development strategy, the central and western regions have continued to open up to the outside world. In the first five months, the total import and export of the central and western regions was 3.06 trillion yuan, up 7.6% year-on-year, accounting for 18.2% of China’s total import and export value, up 0.4 percentage points year-on-year. The year-on-year growth rate of imports and exports from the central and western regions to countries along the Belt and Road exceeded 30%.
We will seize new opportunities and work hard to maintain a steady scale and a sound structure of foreign trade.
The analysis pointed out that the stable growth of China’s foreign trade is inseparable from the continuous promotion of high-level opening up and the continuous introduction of measures to stabilize foreign trade. With the full entry into force of RCEP, new opportunities continue to emerge. Recently, the national and local governments have introduced new policies and measures to promote the steady scale and excellent structure of foreign trade, opening up new development space for foreign trade enterprises, and will strongly promote the stability and quality of foreign trade throughout the year.
Post time: Jun-13-2023