General

According to customs data, China's total import and export value in the first 11 months was 38.34 trillion yuan, an increase of 8.6% over the same period last year. Among them, the export reached 21.84 trillion yuan, up 11.9%; Imports reached 16.5 trillion yuan, up 4.6%; The trade surplus was 5.34 trillion yuan, an increase of 42.8%.

In dollar terms, China's total import and export value in the first 11 months was US $5.78 trillion, up 5.9%. According to the customs data, the export reached 3.29 trillion US dollars, up 9.1%; Imports reached US $2.49 trillion, up 2%; The trade surplus was US $802.04 billion, an increase of 39%.

Xu Deshun, a researcher at the Institute of International Trade and Economic Cooperation of the Ministry of Commerce, said that the fourth quarter is the traditional peak season for foreign trade, but this year's foreign trade has witnessed a "low peak season", which is mainly related to factors such as insufficient orders due to weak foreign demand, a high comparative base in the same period last year, and rising related costs, as well as the rebound of local epidemics and the decline of logistics efficiency.

Although the growth of foreign trade continues to be under pressure, on the whole, China's foreign trade continues to maintain a stable operation, the foreign trade structure has been optimized and improved, and the long-term stable development trend of foreign trade has not changed. According to customs data, in the first 11 months, China's general trade import and export amounted to 24.47 trillion yuan, an increase of 12.4%, continuing to maintain a double-digit growth. The proportion of foreign trade increased by 2.2 percentage points over the same period last year, of which the export growth rate reached 17.2%, and the export of processing trade increased by 3%. In addition, China's imports and exports in the form of bonded logistics reached 4.77 trillion yuan, an increase of 8.4%. Among them, the export reached 1.84 trillion yuan, up 12.3%.

Imports and exports to ASEAN, the European Union, the United States and other major trading partners increased. According to customs data, ASEAN was China's largest trading partner in the first 11 months. The total trade value between China and ASEAN was 5.89 trillion yuan, an increase of 155%, accounting for 15.4% of China's total foreign trade value. The EU, the United States and South Korea are China's second to fourth largest trading partners, with total trade value of 5.17 trillion yuan, 4.62 trillion yuan and 2.22 trillion yuan, respectively, with year-on-year growth rates of 7%, 4.8% and 4.7%. Over the same period, China's imports and exports to countries along the "the Belt and Road" totaled 12.54 trillion yuan, an increase of 20.4%. Among them, the export reached 7.13 trillion yuan, an increase of 21%; Imports totaled 5.41 trillion yuan, up 19.7 percent.

The import and export of private enterprises continued to grow rapidly. As the main market body of foreign trade, customs data show that the import and export of private enterprises in the first 11 months was 19.41 trillion yuan, an increase of 13.6%, accounting for 50.6% of China's total foreign trade, 2.2 percentage points higher than the same period last year. Over the same period, the import and export of foreign-invested enterprises reached 12.7 trillion yuan, down 0.1%, accounting for 33.1% of China's total foreign trade value. The import and export of state-owned enterprises reached 6.15 trillion yuan, an increase of 14.1%, accounting for 16% of China's total foreign trade value.

Recently, eight departments, including the Ministry of Commerce and the National Development and Reform Commission, announced that 29 national import trade promotion innovation demonstration zones would be added nationwide, involving Beijing, Shanghai, Jiangsu, Guangdong and other provinces. Wei Hao, a professor at the School of Economics and Management of Beijing Normal University and director of the National Import Research Center, said that under the background of the increasing downward pressure of the current economy and the complex and severe external situation, China continued to expand imports, especially high-quality products, which showed that the country's firm determination to promote high-level opening-up and promote balanced trade development was conducive to optimizing China's consumption supply structure and meeting the upgrading demand of domestic consumption.

At present, China's monthly import and export growth has slowed down, but it is basically consistent with the overall trend of the global economy and trade. The spokesman of the Ministry of Commerce, Shu Jueting, said that in the fourth quarter, insufficient foreign demand has become a prominent challenge, but the development of foreign trade still has strong support, the foreign trade industry has a good foundation, enterprises' performance and innovation capabilities continue to strengthen, the effect of stable foreign trade policy continues to release, international flights have significantly increased, and the foreign trade operation in the fourth quarter will continue to maintain a reasonable range.