General

According to customs data, in the first quarter, China's total import and export value of goods trade was 9.89 trillion yuan, a year-on-year increase of 4.8%. China's foreign trade has started steadily, showing a positive trend month by month, with the import and export growth rate increasing month by month. On April 13th, Lv Daliang, spokesperson for the General Administration of Customs and Director of the Department of Statistics and Analysis, stated at a press conference of the State Administration for Foreign Trade Reform that despite the severe and complex external situation, China's foreign trade still shows strong resilience. Based on comprehensive analysis, there is support for achieving the goal of promoting stability and improving quality in foreign trade this year.

Further enhancing the vitality of foreign trade entities

457000 foreign trade enterprises with import and export performance, an increase of 5.9% year-on-year

Customs data shows that in January, imports and exports decreased by 7% due to the impact of the Spring Festival holiday. In February, the "negative to positive" growth rate increased by 8%, while in March, the year-on-year growth rate increased to 15.5%, showing a positive trend month by month. The overall growth rate in the first quarter was 4.8%, an increase of 2.6 percentage points compared to the fourth quarter of last year.

The number of foreign trade operators has steadily increased, showing new vitality. In the first quarter, there were 457000 foreign trade enterprises with import and export performance in China, an increase of 5.9% year-on-year. Among them, there were 384000 private enterprises, an increase of 7.5%, and import and export amounted to 5.18 trillion yuan, an increase of 14.4%, accounting for 52.4% of China's total import and export value. During the same period, foreign-invested enterprises imported and exported 3.04 trillion yuan, while state-owned enterprises imported and exported 1.65 trillion yuan, accounting for 30.7% and 16.7% of the total import and export value, respectively.

Private enterprises have been serving as the main force in China's foreign trade development for four consecutive years, "said Lv Daliang. In 2022, the proportion of private enterprises in China's total import and export value reached 50.9%, and the annual proportion exceeded half for the first time. In the first quarter of this year, private enterprises' foreign trade continued to maintain a rapid growth trend, and their proportion further increased.

Customs data shows that in the first quarter, China's general trade import and export reached 6.46 trillion yuan, a year-on-year increase of 7.9%, accounting for 65.3% of the total import and export value, an increase of 1.9 percentage points compared to the same period last year. Among them, exports reached 3.68 trillion yuan, an increase of 12.7%; Import reached 2.78 trillion yuan, an increase of 2.2%.

The exports of mechanical and electrical products and labor-intensive products have both achieved growth. In the first quarter, China's exports of mechanical and electrical products reached 3.27 trillion yuan, a year-on-year increase of 7.6%, accounting for 57.9% of the total export value; Among them, the exports of automobiles, household appliances, and batteries were 147.47 billion, 141.24 billion, and 116.34 billion yuan, respectively, with an increase of 96.6%, 3.2%, and 84.8%. During the same period, the export of labor-intensive products reached 947.46 billion yuan, an increase of 5.7%.

Further optimization of foreign trade structure

The total export of the "new three samples" is 264.69 billion yuan, a year-on-year increase of 66.9%

In the first quarter, China's total exports of electric passenger vehicles, lithium batteries, and solar cells (the "new three types") amounted to 264.69 billion yuan, a year-on-year increase of 66.9%, accounting for 1.7 percentage points of China's exports, reaching 4.7%.

In recent years, the global emphasis on new energy and green and low-carbon fields has gradually increased, and the strong demand in the international market has also driven the growth of China's green and low-carbon product exports. Last year, the "new three samples" drove the overall growth of China's exports by 1.7 percentage points. Since the beginning of this year, the driving effect has further increased, with the first quarter driving the overall growth of exports by 2 percentage points. In the first quarter, China's "new three samples" had export records to over 200 countries and regions around the world, with exports to the European Union, the United States, ASEAN, South Korea, and the UK markets increasing by 88.7%, 88.1%, 103.5%, 121.7%, and 118.2%, respectively.

In the first quarter, the central and western regions of China achieved import and export of 1.84 trillion yuan, a year-on-year increase of 12.6%, and the scale reached a new historical high during the same period. Under the promotion of the national regional coordinated development strategy, the economy of the central and western regions continues to develop, and the proportion of foreign trade imports and exports continues to increase. The regional structure of China's foreign trade is further optimized.

The central and western regions leverage their geographical advantages to facilitate cross-border transportation, continuously improve channel operation and logistics efficiency. "Lv Daliang said that in the first quarter, the import and export of the new land sea channel in the western region reached 969.52 billion yuan, an increase of 10.1%. Since the opening of the China Laos Railway more than a year ago, it has played an increasingly significant role in China ASEAN trade. In the first quarter of this year, 880000 tons of imported and exported goods were inspected and released, an increase of 219%.

The scale of Border trade carried out through border ports has steadily increased. In the first quarter, the total import and export volume of border mutual trade and small border trade reached 89.7 billion yuan, reaching a new high in the same period in history, with a year-on-year increase of 111%. The proportion of foreign trade in the central and western regions increased by 2.3 percentage points year-on-year, reaching 4.9%.

More balanced expansion of foreign trade market

Import and export to countries along the "the Belt and Road" increased by 16.8%

Customs data shows that in the first quarter, most of China's top ten export markets maintained positive growth. Among them, exports to ASEAN, Japan, and the European Union increased by 28%, 5.3%, and 0.3% respectively, while exports to South Korea, India, and Mexico exceeded double-digit growth rates. The regional market for foreign trade is further developed and more balanced.

"This year marks the tenth anniversary of the the Belt and Road Initiative. Over the past decade, China's import and export to countries along the the Belt and Road accounted for 32.9% of China's overall foreign trade from 25% in 2013." Lu Daliang said that in the first quarter, China's import and export to countries along the the Belt and Road increased by 16.8%, 12 percentage points higher than the overall growth of China's foreign trade in the same period; Accounting for 34.6% of the total import and export value, an increase of 3.5 percentage points. Among them, imports and exports to Southeast Asia, West Asia and North Africa, Central Asia and South Asia along the route increased by 16.1%, 12.5%, 32.2%, and 4.1%, respectively. In the first quarter, China's import and export to countries along the "the Belt and Road" by rail and road transport increased by 24.6% and 61.8% respectively.

According to customs data, in the first quarter, China's total imports and exports to the other 14 member countries of the Regional Comprehensive Economic Partnership Agreement (RCEP) amounted to 3.08 trillion yuan, a year-on-year increase of 7.3%, accounting for 31.2% of China's total foreign trade value during the same period, and an increase of 0.8 percentage points compared to the same period last year. According to Lv Daliang's analysis, in the first quarter, there were 7 countries where China's imports and exports to other RCEP member countries increased by over 10%, with imports and exports to Singapore, Laos, and Myanmar all growing by over 20%, reaching 45.8%, 37.8%, and 29%, respectively.

Lv Daliang stated that currently, the global economic instability, uncertainty, and unpredictable risks are increasing, and China's foreign trade development will face many difficulties and challenges. But it should also be noted that China's economy has strong resilience, great potential, and abundant vitality, and the fundamentals of long-term improvement remain unchanged. "I believe that with the continuous overall improvement of China's economic operation, the positive momentum of foreign trade is expected to continue." He said that this year, the customs will further optimize and upgrade relevant policies and measures based on the demands of enterprises, and will continue to release policy and measure dividends to better assist in promoting stability and quality of foreign trade.