General

On June 7th, the General Administration of Customs released data showing that according to customs statistics, China's total import and export value in the first five months of this year was 16.77 trillion yuan, a year-on-year increase of 4.7%. Among them, exports reached 9.62 trillion yuan, an increase of 8.1%; Import reached 7.15 trillion yuan, an increase of 0.5%; The trade surplus reached 2.47 trillion yuan, an increase of 38%.

Lv Daliang, Director of the Statistics and Analysis Department of the General Administration of Customs, stated that since the beginning of this year, China's economic development has shown a rebound and positive trend. Various regions and departments have actively implemented policies and measures to promote the stability, scale, and structure of foreign trade, helping foreign trade operators cope with the challenges brought by weak external demand, and promoting China's foreign trade to maintain positive growth for four consecutive months.

According to customs data, in terms of trade methods, in the first five months, China's general trade imports and exports reached 11 trillion yuan, an increase of 7%, accounting for 65.6% of China's total foreign trade value, an increase of 1.4 percentage points compared to the same period last year. Import and export through bonded logistics amounted to 2.14 trillion yuan, an increase of 12.4%.

From the perspective of trading partners, China's imports and exports to ASEAN and the European Union have both achieved growth. According to customs data, in the first five months, ASEAN was China's largest trading partner, with a total trade value of 2.59 trillion yuan, an increase of 9.9%, accounting for 15.4% of China's total foreign trade value. The European Union is China's second largest trading partner, with a total trade value of 2.28 trillion yuan, an increase of 3.6%, accounting for 13.6%.

According to customs data, in terms of exported products, in the first five months, China's exports of mechanical and electrical products reached 5.57 trillion yuan, an increase of 9.5%, accounting for 57.9% of the total export value. Among them, driven by the export of Alternative fuel vehicle, automobile exports reached 266.78 billion yuan, an increase of 124.1%, which was eye-catching.

The continued high growth trend of automobile exports indicates that the transformation and upgrading of China's manufacturing industry is shaping new export momentum. "Feng Lin, a senior analyst at the Research and Development Department of Dongfang Jincheng, told reporters that China has achieved a" curve overtaking "in the field of new energy vehicles, and the global market export share is significantly increasing.

According to customs data, from the perspective of foreign trade entities, in the first five months, private enterprises imported and exported 8.86 trillion yuan, an increase of 13.1%, accounting for 52.8% of China's total foreign trade value, an increase of 3.9 percentage points compared to the same period last year.

Private enterprises will continue to maintain their position as the largest operating entity in China's foreign trade, and in the future, they will continue to assist private enterprises in exploring overseas markets by reducing the burden on foreign trade enterprises and strengthening intellectual property protection, "Xie Logistics, a senior investment advisor at Jufeng Investment Consulting, said in an interview with reporters.

Feng Lin stated that many places organize foreign trade enterprises to "go out", invite overseas customers in, increase efforts to expand overseas markets, and add various stable foreign trade policy support. Domestic private enterprises' exports have recovered quickly, and new foreign trade businesses such as cross-border e-commerce have shown good growth momentum, all of which help offset the drag on China's exports caused by weak foreign demand. (Transferred from: Securities Daily)