General

According to import and export data released by the General Administration of Customs on June 7th, China's foreign trade imports and exports increased by 4.7% year-on-year in the first five months. Under the complex and severe external environment, various regions and departments actively implement policies and measures to promote stable scale and optimal structure of foreign trade, effectively capture market opportunities, and promote China's foreign trade to maintain positive growth for four consecutive months.

Private enterprise imports and exports maintained a good growth trend, with a year-on-year increase of 13.1%

Since the beginning of this year, China's economic development has shown a rebound and positive trend, providing strong support for the stable growth of foreign trade. Import and export data shows that in the first five months, the total value of foreign trade imports and exports was 16.77 trillion yuan, a year-on-year increase of 4.7%. Among them, exports reached 9.62 trillion yuan, a year-on-year increase of 8.1%; Import reached 7.15 trillion yuan, a year-on-year increase of 0.5%.

From the perspective of market entities, in the first five months of this year, there were 439000 private enterprises with import and export performance, an increase of 8.8% year-on-year, totaling 886 trillion yuan in imports and exports, an increase of 13.1% year-on-year, continuing to maintain China's position as the largest business entity in foreign trade.

Maintain a leading position in foreign trade imports and exports in the central and western regions

Under the promotion of regional coordinated development strategy, the level of opening-up in the central and western regions continues to improve. Import and export data shows that in the first five months, the total import and export of the central and western regions reached 3.06 trillion yuan, a year-on-year increase of 7.6%, accounting for 18.2% of China's total import and export value, a year-on-year increase of 0.4 percentage points. The year-on-year growth rate of imports and exports from the central and western regions to countries along the "the Belt and Road" exceeded 30%.

Emerging markets are becoming a new growth point driving China's foreign trade

From the perspective of trading partners, import and export data shows that in the first five months of this year, ASEAN continued to be China's largest trading partner, with imports and exports increasing by 9.9% year-on-year, accounting for 15.4% of China's total foreign trade value. With the advancement of connectivity and economic and trade cooperation along the route, China's trade with countries along the the Belt and Road has continued to be active, with imports and exports increasing 13.2% year on year. Import and export data show that, among them, the trade with Kazakhstan and other five Central Asian countries has increased by 44%.

Seize New Opportunities and Boost the Stability, Scale, and Structure of Foreign Trade

The analysis points out that the stable growth of China's foreign trade is inseparable from the continuous promotion of high-level opening-up and the continuous introduction of measures to stabilize foreign trade. With the full implementation of RCEP, new opportunities are constantly emerging. Recently, new policies and measures have been introduced at both the national and local levels to promote the stability, scale, and structure of foreign trade, opening up new development opportunities for foreign trade enterprises and effectively promoting the stability and quality of foreign trade throughout the year.