Beijing's foreign trade witnessed a strong start in the first two months of this year, with trade volume reaching 579.44 billion yuan (US$80.54 billion), up 2% year on year and accounting for 8.8% of China's total, according to Beijing Customs.

From January to February, private companies in Beijing reportedly conducted 63.36 billion yuan in import and export, marking a 22% increase from last year and accounting for 10.9% of Beijing's total; foreign-invested enterprises posted a 10.3% growth with 92.16 billion yuan, representing 15.9% of the total. 

Additionally, innovative SMEs that use special and sophisticated technologies to produce novel and unique products recorded a 14.1% increase in trade, totaling 2.66 billion yuan. 

"These figures reflect the vitality of different business types and the effective impact of government policies aimed at stabilizing foreign trade," said Peng Bo, a researcher at the Chinese Academy of International Trade and Economic Cooperation.

Furthermore, Beijing's modern industrial system continues to grow, particularly in strategic emerging industries such as integrated circuits, biopharmaceuticals, and aerospace. This growth has contributed to a shift in structure and acceleration in growth of foreign trade. According to Beijing Customs, Beijing saw increases in imports of integrated circuits by 11.6%, human vaccines by 41.7%, semiconductor manufacturing equipment by 78.7%, and aircraft parts by 15.9% in the first two months.

Peng also highlighted the steady growth in external markets. According to Beijing Customs, Beijing's top five trading partners in the first two months were the EU, Switzerland, Brazil, the U.S., and ASEAN, with trades worth 55.13 billion yuan, 42.77 billion yuan, 41.58 billion yuan, 41.45 billion yuan, and 34.99 billion yuan, respectively.

Notably, trades with Switzerland and Brazil saw significant increases of 92.3% and 10.7%, respectively, compared to the same period last year.

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