China's Foreign Trade Starts Strong, Boosting Economic Confidence

Deep News03-14 20:22

China's foreign trade has achieved a robust start to the year, with multiple regions reporting impressive export-import performance. Key economic zones, including the Guangdong-Hong Kong-Macao Greater Bay Area, nine provinces along the Yellow River basin, and the Yangtze River Delta, all recorded strong growth in goods trade.

According to statistics from the Guangdong Sub-Administration of the General Administration of Customs, the nine mainland cities in the Greater Bay Area saw their total import and export value reach 1.57 trillion yuan in the first two months of this year, a year-on-year increase of 22.4%. This growth rate was 4.1 percentage points higher than the national average, accounting for 20.4% of the country's total foreign trade and contributing 24.1% to the national growth.

During the same period, the nine provinces and autonomous regions along the Yellow River basin—Qinghai, Sichuan, Gansu, Ningxia, Inner Mongolia, Shanxi, Shaanxi, Henan, and Shandong—achieved a record high in goods trade, with total import and export value reaching 1.09 trillion yuan, up 15.4% year-on-year. The region's foreign trade performance was characterized by stable growth, strong momentum in inland areas, and regional differentiation.

In the Yangtze River Delta, which includes three provinces and one municipality, import and export value hit 3 trillion yuan in the first two months, setting a new historical record and raising its share of national trade to 38.8%. The region has also diversified its trade partnerships, with exports to ASEAN, the European Union, and Belt and Road Initiative partner countries all growing by more than 20%. The structure of exported goods continued to improve, with notable increases in automobile exports (up 77.9%) and lithium-ion battery exports (up 37.6%).

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment