Containers are unloaded from a ship at a port of Qingdao, East China’s Shandong province. [Photo/Xinhua]
According to data released by the General Administration of Customs, the total value of China’s imports and exports of goods in the first half of this year reached 20.1 trillion yuan ($2.81 trillion), an increase of 2.1 percent year-on-year. China’s foreign trade has maintained stability, while its quality has been improved and its structure optimized. These achievements have been hard-won, demonstrating strong resilience. Especially, the following highlights can be observed in China’s foreign trade in the first half of the year.
China’s export growth rate in the first half of the year was higher than that of other major manufacturing countries. China has a broader manufacturing industry chain and higher resilience, demonstrating stronger comprehensive industrial competitiveness.
China’s trade structure continues to be optimized, reflecting the high-quality development of China’s economy. The growth rate of general trade, which has longer industry chains and higher added value, is faster than the overall growth rate, accounting for 65.5 percent of the total imports and exports value, an increase of 1.2 percentage points compared to the same period last year. In terms of trade entities, in the first half of the year, China’s private enterprises had imports and exports totaling 10.59 trillion yuan, a year-on-year increase of 8.9 percent and 6.8 percentage points higher than the overall growth rate. Private enterprises have become the main stabilizing force for foreign trade and promoters of growth.
There is ample momentum in the development of green industries. In the first half of the year, the combined exports of new energy vehicles, lithium batteries and solar cells grew by 61.6 percent, contributing to a 1.8 percentage point increase in overall export growth.
China’s import and export trade will continue to demonstrate strong resilience and its foreign trade development has sufficient momentum for the country to maintain its position as the world’s largest trading nation this year.