SCIO briefing on China's import and export performance in H1 2023
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E-mail China.org.cn, July 26, 2023
Speaker:
Lyu Daliang, spokesperson of the General Administration of Customs of China (GACC) and director general of the Department of Statistics and Analysis of the GACC
Chairperson:
Xie Yingjun, deputy director general of the Press Bureau of the State Council Information Office (SCIO) and spokesperson of the SCIO
Date:
July 13, 2023
Xie Yingjun:
Ladies and gentlemen, good morning. Welcome to this press conference held by the State Council Information Office (SCIO). Today, we are joined by Mr. Lyu Daliang, spokesperson of the General Administration of Customs of China (GACC) and director general of the Department of Statistics and Analysis of the GACC, who will brief you on China's import and export performance in the first half of 2023 and answer your questions.
Now, I'll give the floor to Mr. Lyu for a brief introduction.
Lyu Daliang:
Ladies and gentlemen, friends from the media, good morning. Thank you for attending today's press conference despite the rain. It's a great pleasure to meet you again. I will begin by introducing China's import and export performance in the first half of this year and then answer your questions.
In the first half of this year, in the face of a complex and severe external environment, under the strong leadership of the CPC Central Committee with Comrade Xi Jinping at its core, China adhered to the general principle of pursuing progress while ensuring stability and pursued high-quality development. The overall economic performance is witnessing a recovery and improvement, and the quality of foreign trade is steadily improving in line with our expectations. According to statistics from the GACC, China's total goods imports and exports expanded 2.1% year on year to 20.1 trillion yuan (about $2.81 trillion). Exports accounted for 11.46 trillion yuan, showing a 3.7% year-on-year growth, while imports totaled 8.64 trillion yuan, indicating a decrease of 0.1% year on year. Specifically, there were five main features which I will now outline.
First, the scale of foreign trade has grown steadily. China's goods imports and exports exceeded 20 trillion yuan in the January-June period for the first time. The goods imports and exports in the first and second quarters reached 9.76 trillion yuan and 10.34 trillion yuan, respectively, with both registering year-on-year growth. Imports and exports recorded in the second quarter were 6% higher than that of the first quarter. Both May and June registered 1.2% month-on-month increases.
Second, the import and export scale of private enterprises continued to expand. In the first half of the year, China's private enterprises recorded imports and exports worth 10.59 trillion yuan, representing 8.9% year-on-year growth. This accounted for 52.7% of the country's total, marking a 3.3 percentage point rise over the previous year. During the same period, foreign-invested enterprises conducted imports and exports worth 6.16 trillion yuan, while state-owned enterprises engaged in imports and exports worth 3.29 trillion yuan, accounting for 30.7% and 16.4% of the country's total, respectively.
Third, the growth rate of imports and exports related to the Belt and Road Initiative (BRI) exceeded that of overall trade. In the first half of this year, the total value of China's imports and exports with the Association of Southeast Asian Nations (ASEAN), the country's largest trading partner, reached 3.08 trillion yuan, marking a 5.4% year-on-year increase and accounting for 15.3% of the total. Imports and exports with the European Union amounted to 2.75 trillion yuan, reflecting a 1.9% increase and accounting for 13.7% of the total. The country's trade in goods with the United States declined 8.4% year on year to 2.25 trillion yuan, accounting for 11.2% of China's total. Meanwhile, during the same period, China's trade in goods with countries along the Belt and Road jumped 9.8% year on year in the first half of the year, 7.7 percentage points higher than the country's overall trade growth and accounting for 34.3% of the total, achieving a year-on-year increase of 2.4 percentage points. Additionally, the value of China's trade in goods with other members of the Regional Comprehensive Economic Partnership (RCEP) rose 1.5% year on year.
Fourth, there has been a notable rise in the proportion of exports in the mechanical and electrical products sector. In the first half of this year, China's exports of mechanical and electrical products reached 6.66 trillion yuan, representing a 6.3% year-on-year increase and accounting for 58.2% of the total export value, a 1.4 percentage point increase compared to the previous year. Among these, the exports of electrical equipment, automobiles and their spare parts, and general mechanical equipment amounted to 636.06 billion yuan, 621.19 billion yuan and 200.44 billion yuan, respectively, marking increases of 27.7%, 58.5% and 12.2%, respectively. Concurrently, the export of labor-intensive products reached 1.97 trillion yuan, indicating an increase of 0.04%. Notably, the exports of clothing and clothing accessories, plastic products, and shoes and boots amounted to 516.94 billion yuan, 343.42 billion yuan and 172.93 billion yuan, respectively, reflecting increases of 0.7%, 3.2% and 0.4%, respectively.
Fifth, there has been rapid growth in the import of bulk commodities and consumer goods. In the first half of this year, China's imports of bulk commodities such as energy, mineral ores and grain witnessed a significant increase of 17.1% year on year. Specifically, imports of energy products, including crude oil, natural gas and coal, reached 561 million metric tons, marking an increase of 33.2%. Additionally, imports of iron, aluminum and other metal ores amounted to 710 million metric tons, reflecting an 8.3% increase. During the same period, imported consumer goods amounted to 974.84 billion yuan, demonstrating a growth rate of 6.6%. Notably, the imports of meat and edible aquatic products experienced increases of 9.5% and 30%, respectively.
Overall, in the first half of the year, China's foreign trade achieved new breakthroughs in terms of scale, while the structure was newly optimized, showcasing strong resilience. At present, the global economy's recovery is sluggish, with global trade and investment experiencing deceleration. Risks such as unilateralism, protectionism and geopolitics are on the rise, and the direct impact of weakened foreign demand on China's foreign trade continues to persist. However, it is crucial to recognize that China's economy has strong resilience and huge potential, and its long-term sound fundamentals remain unchanged. With the ongoing enhancement of China's economic performance, the implementation of pragmatic and effective measures, and the reinforcement of the vigor of foreign trade operators, we believe that we can achieve the goal of steadily improving the scale and quality of foreign trade.
Next, following the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, the GACC will comprehensively study, understand and implement the guiding principles of the 20th CPC National Congress and resolutely implement the decisions and plans of the CPC Central Committee and the State Council. Adhering to the general principle of pursuing progress while ensuring stability, we will fully and faithfully apply the new development philosophy on all fronts and effectively carry out themed activities. By speeding up the construction of smart customs, we will strive to contribute to the great cause of building China into a great country. We will also continue to implement all work to steadily improve the scale and structure of foreign trade, make efforts to safeguard borders and advance development, and contribute to fostering a new development pattern, promoting high-quality development, and comprehensively advancing Chinese modernization.
Next, I would like to answer the questions that concern you. Thank you.
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