General

The import and export data released by the General Administration of Customs on September 7 shows that from January to August this year, China's total import and export volume reached 27.3 trillion yuan, an increase of 10.1% compared to the same period last year. Among them, the import value was 11.82 trillion yuan, and the export value was 15.48 trillion yuan, a year-on-year increase of 5.2% and 14.2% respectively.

According to the detailed import and export data, China's imports and exports to major partners such as ASEAN, the European Union and the United States have increased. Statistics show that the total trade value between China and ASEAN in the first eight months reached 4.09 trillion yuan, accounting for 15% of China's total foreign trade. ASEAN has become China's largest trading partner.

According to Watson & Band data, since the beginning of trade exchanges between China and ASEAN, the cooperation between the two sides has always been developing in the direction of mutual benefit and win-win results. In 2020, ASEAN surpassed the EU to become China's largest trading partner, and China has been ASEAN's largest trading partner for 12 consecutive years.

With the implementation of the "world's largest free trade area" RCEP, the trade "circle of friends" between China and ASEAN has continued to expand, and trade dividends have continued to be released. The gratifying achievements of China-ASEAN in the first 8 months are obvious, and China's imports and exports to the other 14 RCEP member countries also increased by 7.5% year-on-year.

As China's second largest trading partner, the total trade volume between China and the EU in the first eight months was 3.75 trillion yuan, an increase of 9.5%. Although in recent years European countries have been "clamoring" to "decouple" from China.

However, the import and export data proves that Europe is still attracted by the unique charm of the Chinese market, and the cooperation between China and the EU is still promising. Many companies have also seen the huge potential and space of the Chinese market. In the first half of this year, large European companies such as BMW and Audi have expanded their business in China, and their investment in China has increased by 15% year-on-year.

According to Watson & Band data, after ASEAN and the EU is the United States, with a total value of 3.35 trillion yuan, an increase of 10.1%, accounting for 12.3% of China's total. The total trade value between China and South Korea is 1.6 trillion yuan, accounting for 5.9%, making it China's fourth largest trading partner.

In today's relatively sluggish economic environment, China and other countries and regions can achieve such excellent results in import and export transactions, which shows the stability of China's economy and the "assurance" of countries around the world towards China's economy.