General

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

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

This series of data is more silent than sound, clearly reflecting the closeness of trade between China and the United States and the importance of economic development between the two countries; Especially the improvement of Sino US trade relations has had a significant impact on China's economic recovery. According to the disclosure of the Ministry of Commerce, China's import and export scale reached a new historical high in 2022, reaching 42 trillion yuan, breaking through 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 have become a new growth point for China's high-tech, high 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 thriving, with import and export scales 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 in 2022 reached 17.1%, driving GDP growth by 0.5 percentage points. From an international perspective, in the context of the turbulent global economic and trade environment, China has taken strong measures to stabilize production and exports, ensuring the smooth operation of the global industrial and supply chains. All of this is closely related to the continuous increase in trade volume between China and the United States.

Of course, the improvement of trade relations with China has brought benefits to the United States in jumping out of economic recession, overcoming the shadow of inflation, and driving employment growth in the United States. This has slowed down the pace of interest rate hikes by the Federal Reserve, which is closely related to the gradual recovery of trade relations between China and the United States. Therefore, it is believed that both the US government and the public have seen that improving the economic and trade relations between the two countries is beneficial for both the economy and the people of the two countries. Deteriorating the economic and trade relations between China and the United States will only lead to the consequences of mutual harm. We hope that the US government will attach great importance to further improving 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 has expressed its position and responded correctly to the world through diplomatic channels, indicating that China's unmanned airships are civilian in nature and mistakenly entered US airspace due to force majeure. This is an unexpected event and does not pose a threat to US personnel and national security. I believe that the US government and people will have a comprehensive and objective understanding of the balloon incident, and the US government will handle it in a calm, professional, and non military manner, as this proper handling is conducive to the economic recovery of both countries and the well-being of the people. Therefore, overall, the balloon incident will not have a substantial 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 gimmicks. The trade between China and the United States will further increase significantly in 2023.