Electrical Equipment / Components & Telecoms

The "New Three Kinds" represented by electric passenger cars, solar cells, and lithium batteries have become popular overseas, with a total export of 264.69 billion yuan in the first quarter, a year-on-year increase of 66.9%, driving an overall increase of 2 percentage points in international trade exports.

The "New Three Kinds" represented by electric manned vehicles, solar cells, and lithium batteries have become popular overseas, with a total export of 264.69 billion yuan in the first quarter, a year-on-year increase of 66.9%, driving an overall export growth of 2 percentage points; In the first quarter, total exports to other 14 RCEP member countries increased by 20.2%, and total imports and exports to countries along the "the Belt and Road" increased by 16% in the first four months; The high-frequency index of the port has steadily increased, and the SCFI Shanghai Australia New Line has significantly increased; Cross border e-commerce maintains rapid growth momentum

A series of data shows that China's foreign trade and education is showing a clear trend of "new" and "entry", gradually forming a new competitive advantage led by the "new three types", emerging markets, and new business formats.

The "New Three Kinds" Are Popular in the International Trade Market

On May 23rd, in the workshop of Qingdao Qiancheng Technology Co., Ltd., workers were busy processing and producing a batch of household energy storage solar systems. By July this year, this batch of 12000 sets of household energy storage solar systems will have completed processing, completed customs supervision and clearance procedures, and will be shipped and delivered to the company's customers in Africa and Europe.

It is understood that the total exports of the "New Three Samples" in the first quarter were 264.69 billion yuan, a year-on-year increase of 66.9%, driving an overall export growth of 2 percentage points.

This trend is still ongoing. According to customs statistics, in the first four months, China's export of mechanical and electrical products reached 4.44 trillion yuan, an increase of 10.5%, accounting for 57.9% of the total export value. Among them, automobile exports reached 204.53 billion yuan, an increase of 120.3%. The proportion of new energy vehicles in the overall export value of automobiles increased to 42.9%, contributing 51.6% to the growth of automobile exports.

At the same time, exports of lithium batteries and solar cells continued to grow rapidly in April, reflecting the significant promotion effect of domestic manufacturing transformation and upgrading on exports.

Gao Shiwang, spokesperson for the China Mechanical and Electrical Association, analyzed that the "new three types" are all mechanical and electrical products, and the high growth rate of exports is mainly due to three reasons: market opportunities brought by policy environment and industrial changes, China's complete industrial chain and supply capacity, and the promoting effect of relevant policies.

The high-frequency index of the port is steadily increasing

Yang Daoling, director of the Big Data Analysis Division of the Big Data Development Department of the State Information Center and a researcher, said, "The busy degree of ports is an important indicator reflecting China's foreign trade situation. Many high-frequency data indicators have risen steadily, indicating that China's international trade growth is resilient and has great potential."

The monitoring and analysis of the State Information Center shows that since May, the port has completed an average weekly cargo throughput of 240.809 million tons, an increase of 4.0% year on year; The average weekly container throughput of the port is 5.483 million TEUs, a year-on-year increase of 5.0%; The arrival index of foreign trade ships in May was 354.5, an increase of 4.8% month on month and 11.2% from January, reaching the highest level since the beginning of this year. At the same time, the port logistics index has also risen rapidly. In April, the port logistics index was 89.4, a year-on-year increase of 21.5% and a month on month increase of 35.5%. The level of port busyness reflects the growth trend of China's trade.

Among them, emerging markets have become an important driving force. In a recent report, China Merchants Futures pointed out that on May 19, 2023, the SCFI (Container) Composite Freight Index was 972.5 points, a decrease of 1.11% month on month. Among them, the significant decline of the SCFI Shanghai US West Line and Shanghai Persian Gulf Line dragged down the composite index, but the SCFI Shanghai Australia New Line rose significantly by 24%.

The "the Belt and Road" market also continued to grow. In the first four months of this year, China's imports and exports to countries along the "the Belt and Road" totaled 4.61 trillion yuan, an increase of 16%. Among them, exports reached 2.76 trillion yuan, an increase of 26%.

Xu Yingming, director of the International Market Research Institute of the Research Institute of the Ministry of Commerce, believes that with the continued release of the positive effects of RCEP and the deepening and implementation of the "the Belt and Road" construction, RCEP member countries, countries along the "the Belt and Road" and ASEAN countries will become growth points of China's foreign trade development, which is expected to continue to grow in the future.

Cultivating "New" and Seeking "Progress" with Broad Prospects

As new products and market advantages are gradually cultivated and strengthened, new formats such as cross-border e-commerce are also rapidly developing and resonating with other advantages.

In recent years, China's cross-border e-commerce has maintained a rapid development momentum, with a growth rate of nearly 10 times in 5 years. In the first quarter of this year, it still maintained a high-speed growth momentum. "Li Xingqian, Director of the Department of Foreign Trade of the Ministry of Commerce, said at a previous State Council policy briefing that currently, countries around the world are vigorously developing cross-border e-commerce. According to a report from the World Trade Organization, global B2C cross-border e-commerce will maintain a growth rate of 27% by 2026.

The analysis of the foreign trade survey of mechanical and electrical enterprises at the 133rd Canton Fair shows that small and medium-sized enterprises are targeting cross-border e-commerce, creating independent brands from aspects such as product selection, design, supply chain, and brand. Through cross-border e-commerce, they help Chinese high-quality goods with high comprehensive cost-effectiveness to travel around the world, and the proportion of independent brands and cross-border e-commerce business of enterprises is gradually increasing. A certain main photovoltaic module enterprise has strengthened its supply capacity by laying out "overseas warehouses" in key international trade markets. Currently, the international trade export volume of the enterprise in the first quarter is close to the level of the first half of last year.