Fast, new, and excellent, with the fastest foreign trade growth rate in the same period of the past 5 years

In the first three quarters, China's import and export of goods reached 39.94 trillion yuan, a year-on-year increase of 18.8%. Among them, exports amounted to 23.2 trillion yuan, an increase of 16.4%; Imports amounted to 16.74 trillion yuan, an increase of 22.3%.

Since the beginning of this year, the high-quality development of foreign trade and the construction of a strong trading nation have continued to advance, with rapid growth in imports and exports and both quantity and quality. "At a press conference held by the State Council Information Office on October 14th, Wang Jun, spokesperson and deputy director of the General Administration of Customs, introduced that China's imports and exports have continued to grow rapidly, with growth rates of 15.3%, 18.3%, and 22.3% in the first, second, and third quarters, respectively. From a monthly perspective, it has maintained a double-digit growth rate for six consecutive months. In September, imports and exports reached 5.16 trillion yuan, breaking through 5 trillion yuan for the first time and increasing by 27.5%.

Quarterly and monthly foreign trade growth rates show an accelerating trend

Wang Jun summarized the characteristics of China's foreign trade development in the first three quarters of this year using the four words "fast, new, excellent, and good".

The growth rate is fast. The growth rate of foreign trade in the first three quarters was the fastest in the same period of the past five years, and the overall quarterly and monthly growth rates showed an accelerating trend.

New development momentum. In the first three quarters, the total import and export of industrial robots, electronic components, computer parts, electrical equipment and other products exceeded 10 trillion yuan, an increase of 58.9%, driving the overall import and export growth by 11.3 percentage points. The brand influence of "Made in China" continues to increase, with the export growth rate of independent brands reaching 26.7%, accounting for 24.8% of exports, an increase of two percentage points compared to the same period last year.

Excellent trade structure. Further optimization of cross-border logistics channel structure. In the first three quarters, the proportion of highway imports and exports increased by 3.4 percentage points; With the expansion of trade scale in high-tech products, high value-added products, and fresh agricultural and food products, air freight imports and exports increased by 37.2%.

Open and efficient. In the first three quarters, China achieved two-way growth in imports and exports to over 120 countries and regions. Economic and trade cooperation with countries jointly building the "the Belt and Road" has been deepening, with imports and exports to relevant countries reaching 20.37 trillion yuan, up 17.1%; Imports and exports to other APEC economies amounted to 2.407 trillion yuan, a year-on-year increase of 23.9%.

There are still many unpredictable factors in the current international environment. At the same time, the world economy is still resilient, and China has the advantages of a super large market and a complete industrial system to support it. The synergy of stock and incremental policies has shown significant effects. In the next stage, China's foreign trade still has the foundation and conditions for stable growth, "said Wang Jun.

Starting from March, the import growth rate has exceeded 20% for seven consecutive months

In the first three quarters, China's import growth rate was 5.9 percentage points higher than its export growth rate, with imports growing faster than exports to over 110 countries and regions. Since March, the import growth rate has exceeded 20% for seven consecutive months, and in September, the import scale exceeded 2 trillion yuan for the first time.

Wang Jun analyzed the reasons for the rapid growth of imports, mainly due to the stable operation of China's economy and the continuous release of super large scale market effects.

The advanced manufacturing industry continues to develop and grow, with a strong demand for various intermediate products such as key components. In the first three quarters, imported storage components increased by 1.5 times, integrated circuits increased by 56.6%, and aircraft components increased by 17.6%.

Consumer demand has shifted from "whether there is" to "whether it is good or not", and the import demand of Chinese residents for "good goods" from various countries has expanded. In the first three quarters, imports of Malaysian fresh durian increased by 3.3 times, Italian olive oil increased by 28.6%, and French perfume increased by 28.5%.

The improvement of production activities also provides stable support for upstream raw material imports. In the first three quarters, the import volume of metal ores such as iron, aluminum, and nickel exceeded 1.2 billion tons, and the import volume of oil and gas exceeded 400 million tons.

The continuous expansion of import scale is not only an objective reflection of domestic production and consumption demand, but also fully demonstrates the actual results of China's orderly expansion of independent and unilateral opening up. "Wang Jun said that on May 1st this year, China fully implemented zero tariff on 53 African countries that have established diplomatic relations, and the number of countries implementing zero tariffs has reached 63. In the first three quarters, China imported 867.53 billion yuan from the aforementioned countries, an increase of 15.3%.

Foreign funded enterprises are participants and beneficiaries of "China Opportunity 2.0". In the first three quarters, the import and export of foreign-funded enterprises reached 11.69 trillion yuan, a year-on-year increase of 19%, and the scale reached a new historical high for the same period.

China is not only the 'world factory', but also the 'world market', an open and shared market, "said Wang Jun.

The export scale exceeded 8 trillion yuan for the first time in the third quarter

In the first three quarters, the export of goods trade reached 23.2 trillion yuan, an increase of 16.4%. Among them, the export scale in the third quarter exceeded 8 trillion yuan for the first time, an increase of 22%.

The good growth trend of exports is mainly due to the complete industrial chain system in China, the continuous development and growth of advanced manufacturing industry, and the ability to accurately, quickly, and effectively respond to global production and consumption demand, "Wang Jun introduced.

On the production side, China's ship exports exceeded 350 billion yuan in the first three quarters, an increase of 24.6%, with 300000 ton oil tankers, large liquefied petroleum gas ships, and liquefied natural gas ships all achieving exponential growth; The industrial robot industry is accelerating its digital intelligence empowerment, with exports reaching nearly 10 billion yuan, an increase of 16.9%, helping trading partners transform and upgrade their manufacturing industries. On the consumer side, China's exports of digital cameras increased by 40.5% in the first three quarters.

The investment boom in artificial intelligence continues, leading to an increase in demand for computing power and electrical equipment. In terms of computing power, in the first three quarters, China's exports of integrated circuits increased by 99.1%, computer components increased by 2.1 times, and storage components such as solid-state drives increased by 1.3 times, ensuring a stable supply of intermediate products in the global computing power industry chain. In terms of electricity, China's exports of photovoltaic products, wind turbines and their components increased by 10.3% and 22.4% respectively, continuously filling the global gap in clean energy supply; The exports of wires and cables, as well as transformers, increased by 28.1% and 22.5% respectively; The export of various types of batteries increased by 34.8% and was exported to more than 200 countries and regions.

From high-speed optical communication modules to artificial intelligence computing power server cabinets, from wires to ultra-high voltage converter transformers, from power banks to industrial and commercial energy storage equipment, from single small batteries to containerized integrated energy storage systems, Chinese companies are providing Chinese products, experiences, and solutions for global computing power construction, stable power grid operation, and safe power supply, "said Wang Jun.