In the first two months, China's import and export growth rate reached 18.3%

Beijing, March 10 (Xinhua) -- According to data released by the General Administration of Customs on the 10th, the total value of China's goods trade imports and exports in the first two months of this year was 7.73 trillion yuan, a year-on-year increase of 18.3%. Among them, exports amounted to 4.62 trillion yuan, an increase of 19.2%; Imports amounted to 3.11 trillion yuan, an increase of 17.1%.

Analysts say that in the first two months, China's foreign trade continued to show a stable and progressive trend, with further resilience and vitality. Since the beginning of this year, various regions and departments have taken the initiative and made efforts, and foreign trade enterprises have actively stabilized orders and expanded markets, promoting a good start for China's foreign trade.

Specifically, exports continue to push towards the "new" direction. In the first two months, China's exports of high-tech and high value-added electromechanical products reached 2.89 trillion yuan, a year-on-year increase of 24.3%; The export of labor-intensive products and agricultural products increased by 15.6% and 9.7% respectively.

The longest Spring Festival holiday saw strong consumption, driving sustained release of import demand. In the first two months, China imported 1.21 trillion yuan worth of mechanical and electrical products, a year-on-year increase of 21.3%; 210 million tons of iron ore, an increase of 10%; Crude oil reached 96.934 million tons, an increase of 15.8%.

The accelerated release of various policy dividends has effectively stimulated the vitality of private enterprises. In the first two months, the import and export of private enterprises reached 4.51 trillion yuan, a year-on-year increase of 22.8%. During the same period, the import and export of foreign-invested enterprises and state-owned enterprises increased by 15.3% and 7.4% respectively.

Diversified development enhances the resilience of foreign trade. In the first two months, despite a year-on-year decrease of 16.9% in imports and exports to the United States, China's imports and exports to the European Union amounted to 998.94 billion yuan, an increase of 19.9%. Over the same period, China's total imports and exports to countries jointly building the "the Belt and Road" totaled 4.02 trillion yuan, up 20% year on year, including 1.24 trillion yuan of imports and exports to ASEAN, up 20.3%.

Huang Qunhui, a researcher at the Institute of Economics of the Chinese Academy of Social Sciences, said that a good and strong start has laid a solid foundation for China's foreign trade to "stabilize scale and optimize structure" throughout the year, especially in the transformation and upgrading of the manufacturing industry and the expansion of domestic demand to drive imports, which have brought more sources of vitality to the high-quality development of foreign trade.