General

On April 19th, according to data from Hohhot Customs, the total import and export value of Inner Mongolia's goods trade in the first quarter was 45.62 billion yuan, a year-on-year increase of 50.5%, 45.7 percentage points higher than the national foreign trade growth rate. Among them, exports reached 17.36 billion yuan, an increase of 32.5%; Import reached 28.26 billion yuan, an increase of 64.2%.

Wang Hua, a member of the Party Committee and Deputy Director of Hohhot Customs, introduced that there are three main factors for achieving such achievements. Firstly, the significant growth in exports of mechanical and electrical products has provided strong support for exports. Mechanical and electrical products are the main force of exports in the entire region, accounting for 34.2% of exports. In the first quarter, exports of mechanical and electrical products such as automobiles, mechanical equipment, and electrical equipment increased by 775.9%, 102%, and 75.5%, respectively. The second is the strong demand for mineral energy products due to the recovery of economic production. The economic production of the entire region is gradually recovering and improving, and the demand for raw materials in the energy industry continues to drive import growth. Customs data shows that in the first quarter, the import of mineral energy products such as coal, copper ore, and crude oil increased by 388.9%, 33.2%, and 18.2%, respectively. The third is to effectively stimulate the vitality of market entities. With the implementation and effectiveness of a package of policies and measures to stabilize the economy, various work such as promoting stability and improving quality in foreign trade has accelerated, and the vitality of foreign trade market entities has been effectively stimulated. The number of foreign trade enterprises with import and export performance in the first quarter increased by 24% year-on-year, while both private and state-owned enterprises maintained growth in import and export.

According to Hohhot customs data, in the first quarter of this year, the growth rate of import and export of Inner Mongolia to countries along the "the Belt and Road" was 38.1 percentage points higher than the overall growth rate of foreign trade of the region over the same period. Among them, exports reached 10.92 billion yuan, an increase of 55.9%; The import reached 20.59 billion yuan, an increase of 112.1%. There are two main highlights:

One is the enhanced complementarity of import and export products. In the first quarter, Inner Mongolia exported 4.71 billion yuan of electromechanical products to countries along the "the Belt and Road", an increase of 216.7%. According to customs data, the export of automobiles (including chassis) reached 2.87 billion yuan, an increase of 815.3%; The export growth rates of machine tools, electronic components, and mechanical equipment were 273.3%, 134.8%, and 130.7%, respectively. During the same period, the import of energy products steadily increased, with coal and crude oil importing 11.34 billion yuan and 1.07 billion yuan respectively, with growth rates of 405.1% and 18.2%.

Secondly, interconnectivity is more convenient. In the ten years since the "the Belt and Road" initiative was put forward, the interconnection effect between Inner Mongolia and countries along the "Belt and Road" has become more prominent, and China Europe trains, international intermodal transport and other ways have continued to make efforts to inject new momentum into the economic and trade exchanges between Inner Mongolia and countries along the "the Belt and Road". According to customs data, in the first quarter of this year, the import and export of Inner Mongolia to countries along the "the Belt and Road" by road and railway increased by 234.5% and 49.4% respectively.