China's foreign trade in goods for the first half of the year has surpassed 25 trillion yuan for the first time in the same historical period, reaching 25.47 trillion yuan, marking a year-on-year increase of 16.9%.
This data, released by the General Administration of Customs, shows exports were 14.73 trillion yuan, growing by 13.4%, while imports hit 10.74 trillion yuan, surging 22.1%.
The growth trend has been accelerating throughout the year. The second quarter saw imports and exports total 13.61 trillion yuan, an 18.4% year-on-year increase, representing the highest quarterly growth rate since the third quarter of 2021.
In June alone, the trade value was 4.78 trillion yuan, up 24.2%, maintaining growth for 17 consecutive months.
Against a global backdrop of rising energy prices, mounting inflationary pressures, and slowing economic growth, China's foreign trade demonstrates robust and steady growth, highlighting the strong resilience of the Chinese economy and the dynamic vitality of its industries.
Innovation Driving Growth
A recent example is the export of quadruped robots developed by a Hangzhou-based technology company, which have cleared customs and will be deployed at a major nuclear power plant in Switzerland.
These robots can climb 45-degree slopes, navigate tight equipment spaces, access areas difficult for humans, and detect subtle hazards like leaks or abnormal temperatures using thermal imaging and acoustic sensors.
According to Hangzhou customs statistics, Zhejiang Province exported over 4 billion yuan worth of intelligent bionic robots in the first half, accounting for about 60% of the national total.
A United Nations report indicates that global goods trade growth this year is primarily concentrated in fields related to artificial intelligence. China's rapid AI development is boosting exports of related products.
In the first half, exports of electronic components and computer parts saw double-digit growth, collectively contributing 6.9 percentage points to export growth. Over ten thousand units of intelligent bionic robots deeply integrated with AI technology were exported to more than 90 countries and regions worldwide.
Diversified Market Strengthening
In early July, at a new energy vehicle factory in Shandong, new energy SUVs equipped with all-terrain adaptation systems rolled off the production line, destined for countries involved in the Belt and Road Initiative like the UAE and Egypt via Qingdao Port.
Facing a complex and volatile external environment, foreign trade companies are conducting customized R&D for different markets, proactively expanding their reach, and increasing market loyalty.
In the first half, China's trade with Belt and Road partner countries reached 12.97 trillion yuan, a 14.8% increase, constituting 50.9% of total foreign trade value.
Trade with neighboring countries grew 20.6% to 9.44 trillion yuan. Trade with Latin America and Africa increased by 16.2% and 19.6% respectively, while trade with the European Union grew 10.2%.
Balanced Development of Imports and Exports
More imported goods, such as African dried chilies and cashews, Uruguayan pecans, Belgian apples, and Cambodian dried longan, have gained market access in China this year, enriching consumer choices.
Leveraging its massive domestic market, China is steadily expanding its independent and unilateral opening-up, providing a gateway for global products to enter.
Imports in the first half exceeded 10 trillion yuan for the first time in the same period, reaching 10.74 trillion yuan with a 22.1% growth rate, which was 8.7 percentage points higher than the export growth rate.
Imports from over 150 countries and regions increased, with imports contributing more to foreign trade growth than exports, promoting more balanced trade development.
Private Enterprises as the Main Force
Private enterprises maintained their position as the largest player in China's foreign trade during the first half. Customs data shows over 660,000 private enterprises engaged in import-export activities, with their total trade value reaching 14.53 trillion yuan, a 17% year-on-year increase.
These enterprises are actively adapting to changes, exploring new markets, tapping into potential markets, and weaving a broad and resilient global trade network, steadily increasing the 'innovation quotient' in exports.
While the current external environment remains complex, global economic growth lacks momentum, and China's foreign trade faces numerous risks and challenges, the country's strong innovation drive, vibrant business entities, and high level of openness ensure a fundamentally stable trade foundation. China's foreign trade is well-positioned to navigate challenges and maintain steady, long-term progress.
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