Emerging field exports have become a new highlight of China's foreign trade development

On March 18th, the General Administration of Customs released data showing that from January to February this year, the cumulative export value of China's "new three sample" products (electric manned vehicles, lithium-ion batteries, and solar cells) was 233.72052 billion yuan, an increase of 50.7% compared to the same period last year. Among them, the cumulative export value of electric manned vehicles and lithium-ion batteries reached 100.86646 billion yuan and 99.5794 billion yuan respectively, an increase of 89.5% and 42.7% compared to the same period last year.

Fu Yifu, a special researcher at Su Shang Bank, told Securities Daily reporters that in the first two months of this year, electric manned vehicles and lithium-ion batteries performed strongly, becoming the main force in the growth of foreign trade exports. However, solar cells are facing challenges due to factors such as price declines, which have a certain drag on overall growth. Overall, the "new three types" of exports have shifted from collective high growth in the past to a stage of differentiated competition. Among them, automobiles and lithium batteries have shown strong resilience, providing important support for China's stable scale and optimal structure of foreign trade.

The reporter noticed that the new driving force of China's foreign trade exports is no longer limited to the traditional "new three types", but has emerged with more emerging growth points represented by high-end equipment, robots, etc., jointly forming a new picture of high-quality development of foreign trade.

Data shows that in the first two months of this year, the cumulative export value of 3D printers, parts and accessories for automatic data processing equipment, storage components, industrial robots, integrated circuits, vacuum cleaners, wind turbines and their parts, electronic technology and other products increased by more than 50% compared to the same period last year, indicating strong demand in overseas markets.

Professor Lv Yue, Vice Dean of the School of International Economics and Trade and a member of the National Institute of Opening up at the University of International Business and Economics, told Securities Daily reporters that emerging fields such as robots, 3D printers, and integrated circuits have formed scale advantages due to the combined effects of technological innovation accumulation, complete industrial system support, and global market demand expansion.

Lv Yue further analyzed that firstly, the continuous improvement of technological innovation capability provides key support for the export of high-end products. The manufacturing industry has been increasing research and development investment in the long term, promoting continuous breakthroughs in technologies such as integrated circuits, industrial robots, and 3D printing equipment. High value-added products are accelerating their entry into the international market, driving the rapid expansion of related industries' export scale. Secondly, the industrial chain and supply chain system are well-established, forming a strong capacity for large-scale production. Chinese manufacturing has formed a high degree of synergy in key components, complete machine manufacturing, and supporting services, which can achieve large-scale production and stable supply in a relatively short period of time, making wind power equipment, electronic technology products, etc. have significant cost and efficiency advantages. Finally, the global industrial transformation and upgrading have brought new external demand space. With the continuous deepening of digitalization and greening trends, the demand for new energy equipment, automation equipment, data storage equipment and other products is growing rapidly. Chinese enterprises have strong competitiveness in related fields, thus accelerating the formation of export scale.

In Fu Yifu's view, the new growth drivers of China's foreign trade in the future will exhibit three major characteristics: firstly, evolving from the "new three types" to emerging fields. The export momentum is shifting from new energy vehicles and lithium batteries to fields with higher technological barriers such as robots, artificial intelligence, and innovative drugs. The second is to upgrade from selling products to selling "solutions". Foreign trade enterprises no longer export goods alone, but go global with technical standards and green solutions, providing full lifecycle services from components to operation and maintenance, forming an output model of "product+technology+standard". The third is the dual wheel drive of digital trade and green trade. Relying on cross-border e-commerce and digital delivery, the scale of service trade will continue to expand. At the same time, the global energy transformation will increase the demand for new energy equipment and low-carbon services, which will force the green upgrading of domestic industries.

When it comes to how to continue injecting strong impetus into cultivating new momentum in foreign trade, Lv Yue suggests coordinating efforts from multiple aspects such as technological innovation, institutional environment, and market expansion. Firstly, strengthen the ability of technological innovation and industrial upgrading. By increasing research and development investment, promoting breakthroughs in key core technologies, supporting the development of high-end equipment, new energy, and digital industries, we aim to enhance product added value and international competitiveness. Secondly, optimize the trade system and business environment. Improve cross-border trade facilitation measures, promote the improvement of customs clearance efficiency and the alignment of trade rules, and provide more stable institutional guarantees for the export of new technology products and new business formats. Thirdly, expand diversified international markets. Relying on the joint construction of the "the Belt and Road" and regional cooperation mechanism, strengthen industrial and trade cooperation with emerging market countries, and create more space for high-end manufacturing and green product export.