(ECNS) -- China's foreign trade posted strong, steady growth in the first half of the year, defying rising inflation in major economies, mounting trade barriers, geopolitical tensions and persistent pressure on global supply chains, according to official data and industrial experts.
China’s total goods imports and exports reached 25.47 trillion yuan from January to June, up 16.9% year on year. The figure surpassed 25 trillion yuan for the first half of a year for the first time, reinforcing China’s position as the world’s largest trader of goods.
“Chery began exploring international markets in 2001, and we now have 6.78 million customers overseas,” said Xu Qingsong, deputy general manager of the International Business Division at Chery Automobile Co., Ltd.
“Anhui’s automobile exports exceeded one million units in the first half of the year, reaching the milestone five months earlier than last year and representing an increase of 120% year on year,” said Jiang Kaiyuan, deputy commissioner of Hefei Customs. Exports of Chinese-brand vehicles reached 892,000 units, up 110% year on year.
Wang Jun, deputy director of the General Administration of Customs, said China’s exports had grown by more than 10% so far this year and remained in positive territory for 11 consecutive quarters.
Exports of electronic components and computer parts both recorded double-digit growth in the first half of the year, together contributing 6.9 percentage points to overall export growth. More than 10,000 intelligent bionic robots incorporating AI technologies were exported to over 90 countries and regions.
Exports of basic organic chemicals and primary-form plastics rose by 25.1% and 35% year on year, respectively, helping stabilize related global supply chains.
On July 8, two batches containing a total of 39.7 tonnes of fresh apples from Shaanxi-based Wangzhanggui Agricultural Development Co., Ltd. were shipped to Uzbekistan through Khorgos Port, marking the first export of Yan’an apples to the country. The company had previously exported the fruit to Canada, Thailand, the United Arab Emirates and other markets.
Yan’an Customs supervised the export of 3,196.8 tonnes of fresh apples in the first half of the year, an increase of 89.6% year on year. Yan’an apples have now been exported to 26 countries and regions.
Consensus reached during the China-U.S. leaders’ meeting in May helped stabilize expectations and generate positive momentum for bilateral trade. Trade in goods between the two countries reached 2 trillion yuan in the first half of the year, accounting for 7.9% of China’s total foreign trade. Bilateral trade grew by 13.7% year on year in the second quarter.
Trade with Belt and Road partner countries reached 12.97 trillion yuan from January to June, up 14.8% and accounting for 50.9% of China’s total foreign trade. Trade between China and ASEAN reached 4.34 trillion yuan in the first half of the year, an increase of 18.2% year on year. Second-quarter trade totaled 2.37 trillion yuan, up 20.2% from a year earlier and marking the 10th consecutive quarter of growth.
The corridor also integrates railway services, connections with the China-Europe Railway Express and coordinated port logistics solutions. China’s imports and exports with ASEAN through the corridor rose by 18.2% in the first half of the year.
“Thanks to the zero-tariff policy, we have begun importing frozen strawberries from Egypt. Since May 1, we have imported 1,010 tonnes, and the tariff savings for the full year are expected to exceed 3 million yuan,” said Hou Renjun, marketing director of Deaita (Shandong) Import and Export Co., Ltd.
On May 1, China introduced zero-tariff treatment for goods from all 53 African countries with which it has diplomatic relations. Yang Qian, director of the Tariff Department at Qingdao Customs, said the customs authority granted tariff reductions worth 180 million yuan on African goods valued at 1.76 billion yuan in May and June. Lower tariff costs enable companies to import more raw materials from Africa and diversify their product offerings.
China’s goods imports reached 10.74 trillion yuan in the first half of the year, surpassing 10 trillion yuan for the January-June period for the first time and increasing by 22.1%. Import growth exceeded export growth by 8.7 percentage points, making a larger contribution to overall trade growth and supporting more balanced development.
China has remained the world’s second-largest importer for 17 consecutive years, increasing its share of global imports from 7.9% to approximately 10%.
Imports of metal ores and electronic components increased by 22.6% and 45.6%, respectively, in the first half of the year. During this year’s June 18 shopping festival, transaction volume on JD Worldwide rose by 60% year on year.
China has continued to advance voluntary and unilateral opening-up, extending zero-tariff arrangements to 63 countries. Events including the China International Import Expo, China International Consumer Products Expo and China International Supply Chain Expo provide platforms for goods from around the world to enter the Chinese market. China’s imports from more than 150 countries and regions increased in the first half of the year.
Since the beginning of the year, the Ministry of Commerce has organized “Export to China” events in Belarus, Germany, the United Kingdom, Thailand and other countries.
(By Helen Mo, intern Xu Wenda)
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