What does it mean that the import growth rate in the first seven months was 8 percentage points higher than the export growth rate

For a long time, some countries have been accustomed to focusing on export growth when talking about China's foreign trade, even giving rise to one-sided and untrue arguments that "China exports production capacity and squeezes other countries' space", ignoring that China is the backbone of global supply chain cooperation and that goods come in and go out. In the first seven months, China's import growth rate was 8 percentage points higher than its export growth, contributing more to foreign trade growth than exports, effectively breaking the inherent bias.

Why has China's imports increased significantly? Let's take a look at what we bought first.

In China's shopping cart, there are a large number of raw materials, components, and intermediate goods from various countries around the world. These goods flow to domestic factories and workshops, and through the restructuring, creation, and value-added of Chinese manufacturing, some are supplied to the domestic market, while others are exported to various global markets. In the first half of the year, China's imports of metal ore and electronic components increased by 22.6% and 45.6% respectively.

Obviously, as a manufacturing powerhouse, China has never been a production machine that is self-sufficient and only exports production capacity unilaterally to the world, but rather a "world factory" deeply embedded in global division of labor and driving upstream and downstream partners to benefit together. Behind the globalization of Chinese manufacturing lies the maximization of value of high-quality production factors from various countries through the integration of the Chinese supply chain. The more China imports, produces, and exports, the more efficient the international circulation becomes, and the stronger the resilience and vitality of the global supply chain.

The growth of imports not only demonstrates the empowerment of the "world factory", but also demonstrates the responsibility of the "world market".

China is not only a manufacturing powerhouse, but also a consumer powerhouse. According to the purchasing power parity of the World Bank, by 2025, the total retail sales of consumer goods in China will be equivalent to 1.7 times that of the United States, making it the world's largest commodity consumption market. Currently, China has the highest physical consumption in the world, and the per capita annual consumption of some industrial products has approached the level of developed countries. In the first half of the year, imports of edible oil and edible aquatic products increased by 19.2% and 24.1% respectively, while imports of consumer goods and agricultural products continued to expand.

By 2035, China's per capita GDP will reach the level of moderately developed countries, and the middle-income group will significantly expand. The huge consumption space and abundant potential vitality will continue to inject strong momentum into the world economic growth.

What is even more commendable is that China, as a major consumer country, has actively opened up. China has implemented a zero tariff policy for 63 countries, making it the world's first major economy to achieve full coverage of zero tariff treatment for all African countries and all least developed countries that have diplomatic relations with China; It is the only country to host the International Import Expo, which has been successfully held for 8 sessions with a cumulative intended transaction volume exceeding 580 billion US dollars.

During the 14th Five Year Plan period, China's cumulative import scale exceeded 90 trillion yuan, ranking second in the world for 17 consecutive years and becoming the main export destination for nearly 80 countries. This fully demonstrates that China is not only the "world factory", but also the "world market".

Speaking of this, some netizens inevitably have doubts. In the current trend of anti globalization, with some countries imposing tariffs, setting trade barriers, and competing to seize export shares, what is China's intention of expanding imports and actively expanding market dividends?

To be honest, under the wave of consumption upgrading, the import of high-quality consumer goods and specialty agricultural products from around the world has enriched people's life choices; Under the demand for industrial upgrading, the import of high-end production factors worldwide has activated domestic economic momentum.

Going deeper, the root cause lies in China's consistent adherence to peaceful coexistence. Unlike some countries that view trade as a zero sum game and pursue unilateral gains, China has always believed that the essence of trade is two-way empowerment and mutual benefit.

This is particularly evident in non cooperation. Starting from May 1st this year, China has fully implemented zero tariff measures for 53 African countries that have established diplomatic relations with China. In May and June alone, China's total imports from Africa reached 193.8 billion yuan, a year-on-year increase of 23.5%. A large number of African specialty products have opened up sales channels, revitalized industries, and driven employment through the Chinese market. China's tariff reduction and import expansion are not passive trade behaviors, but institutional openness that actively chooses and shares dividends.

China has never deliberately pursued a trade surplus. Whether it is exports or imports, they are essentially the key link for China to integrate into the domestic and international dual circulation and promote economic globalization. The Politburo meeting of the Communist Party of China Central Committee held on July 30th emphasized the need to promote balanced development of trade. With the iteration and upgrading of the "world factory" and the continuous expansion of the "world market", China will continue to open up in both directions and work with other countries to expand the cake of global common development.