Title: China’s Import and Export Surpass 20 Trillion Yuan in the First Half of 2023, Setting a Historic Record
Date: July 23, 2023
The latest data on China’s foreign trade in the first half of the year has revealed that the total value of both import and export activities has exceeded 20 trillion yuan for the first time, marking a significant milestone in the economic and foreign trade landscape. This achievement represents a 2.1% increase compared to the same period last year and sets a new record high for the first half of the year in history.
Not only has China’s import and export scale reached new heights, but the overall structure of foreign trade has also been optimized. The continuous strengthening of China’s foreign trade vitality is evident in several key factors.
According to recent statistics, China’s cross-border e-commerce import and export during the first half of the year amounted to 1.1 trillion yuan, showing a year-on-year growth of 16%. This highlights the increasing significance of e-commerce in the country’s foreign trade landscape.
Additionally, the total export of the “three new” popular products witnessed an exceptional increase of 61.6%, contributing to an overall export growth rate of 1.8%. This surge demonstrates China’s ability to adapt and capitalize on emerging global trends in trade.
Furthermore, China’s import and export to countries along the “Belt and Road” initiative recorded a growth rate of 9.8%, surpassing the overall growth rate by 7.7%. This indicates the success of China’s efforts to strengthen trade partnerships and connectivity along the Belt and Road routes.
Another highlight is the significant contribution of private enterprises to China’s import and export activities. Private enterprise trade reached 10.59 trillion yuan, marking a year-on-year increase of 8.9%. Private enterprises accounted for 52.7% of the total import and export value, showcasing their essential role in China’s foreign trade sector.
These achievements are particularly notable against the backdrop of a sluggish world economy and the slowdown in global trade and investment. China’s active pursuit of high-level opening up and the development of new growth points for foreign trade have demonstrated its resilience during challenging times.
China’s foreign trade successes have undoubtedly played a crucial role in supporting the nation’s economic growth and enhancing its position as a global trading leader. By continuously adapting to changing landscapes and seeking new opportunities, China remains committed to promoting mutually beneficial international trade relationships.
To gain further insights into China’s remarkable foreign trade progress, click here to watch a video highlighting the step-by-step development of China’s foreign trade.