General

From the overall situation of foreign trade imports and exports, Sino US trade relations have improved and trade volume has also increased; In addition to ASEAN and the EU becoming China's first and second largest trading partners, the United States has become China's third largest trading partner and remains the largest foreign trade country. This transformation of the situation is conducive to further improvement and development of the economic and trade relations between the two countries.

From the perspective of the specific amount between China and the United States in 2022, the trade volume between China and the United States was 759.427 billion US dollars, a year-on-year increase of 0.6%. Among them, China's exports to the United States reached US $581.783 billion, an increase of 1.2%; China's imports from the United States amounted to 177.644 billion US dollars, a decrease of 1.1%. Especially in 2022, the total foreign trade between China and the United States exceeded 5 trillion yuan, an increase of 3.7% year-on-year. China's exports to the United States reached nearly 3.9 trillion yuan, up 4.2% year-on-year; Import from the United States reached 1.1 trillion yuan, up 1.9% year-on-year; The final trade surplus with the United States was 2.8 trillion yuan.

This series of data is more silent than sound, and clearly reflects the close degree of Sino US trade and the importance of it to the economic development between the two countries; In particular, the improvement of Sino US trade relations has had a significant impact on China's economic recovery. According to the Ministry of Commerce, in 2022, China's import and export scale reached a new record high, reaching 42 trillion yuan, breaking the 40 trillion yuan mark, forming a new driving force for China's economic development. For example, in 2022, electric vehicles, photovoltaic products, and lithium batteries became a new growth point for China's high-tech, value-added, and green transformation led product exports.

In 2022, the export of electric vehicles increased by 131.8%, photovoltaic products increased by 67.8%, and lithium batteries increased by 86.7%. At the same time, new forms of foreign trade such as cross-border e-commerce and market procurement trade are also booming, with the import and export scale exceeding 3 trillion yuan, accounting for over 7% of foreign trade. At the same time, it has also made new contributions to China's economy. From a domestic perspective, the contribution rate of net exports of goods and services to GDP growth reached 17.1% in 2022, driving GDP growth by 0.5 percentage points. Internationally, against the backdrop of the volatile global economic and trade environment, China has taken strong measures to stabilize production and exports, ensuring the smooth operation of the global industrial chain supply chain. All of this is inextricably linked to the rising volume of Sino US trade.

Of course, the improvement of trade relations with China has brought benefits to the United States in terms of jumping out of economic recession, stepping out of the shadow of inflation, and driving employment growth in the United States. This has slowed the pace of interest rate hikes by the Federal Reserve, which is greatly related to the gradual recovery of Sino US trade relations. Therefore, I believe that both the US government and the public have seen that improving the economic and trade relations between the two countries is beneficial to the economies and people of the two countries, while worsening the economic and trade relations between the two countries can only lead to the consequences of losing both sides. I hope that the US government will attach great importance to the further improvement of the economic and trade relations between the two countries and continue to develop in a favorable direction.

In the recent balloon incident, the Chinese government made clear its position and responded correctly to the world through diplomatic channels, indicating that China's unmanned airship was of a civilian nature and had strayed into the airspace of the United States entirely due to force majeure. This was an accident and did not pose a threat to the personnel and national security of the United States. I believe that the United States government and people will also have a comprehensive and objective understanding of the balloon incident, and the United States government will handle it in a calm, professional, and non military manner, because this proper handling method is conducive to the economic recovery of both countries and more conducive to the well-being of the people. Therefore, in general, the balloon incident will not have a substantive impact on the economic and trade exchanges between China and the United States. Some politicians or media with ulterior motives in the United States are just pretending to be a gimmick. Sino US trade will further increase significantly in 2023.