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E-mail China.org.cn, February 24, 2025
China Financial and Economic News:
At the end of 2023, the Central Economic Work Conference called for an acceleration in the development of new drivers for foreign trade. How have these new drivers performed over the past year? Thank you.
Wang Lingjun:
That is a good question. Without new drivers, new development cannot occur. It can be said that last year, China's foreign trade reached two new trillion-yuan-level milestones, thanks in large part to the significant driving force of this new momentum. I'd like to invite Mr. Lyu to elaborate on this topic.
Lyu Daliang:
Thank you for your question. In 2024, the scale of our country's foreign trade, in terms of imports and exports, reached a new historical high. A continuous influx of new momentum has injected powerful energy into the development of China's foreign trade.
Our green trade leads the world. China's green products have not only boosted global supply but also made significant contributions to international efforts in combating climate change and facilitating the transition to a green, low-carbon economy. In the field of green energy, China's wind turbine exports surged by 71.9% in 2024. Photovoltaic product exports have exceeded 200 billion yuan for four consecutive years, while lithium battery exports reached a record high of 3.91 billion units. In the field of green transportation, China's export volume of electric locomotives has risen for five consecutive years. Electric motorcycles and bicycles have gained popularity in overseas markets, with export values surpassing 40 billion yuan for the first time. Additionally, the export volume of electric vehicles has exceeded 2 million units for the first time. As the saying goes, "All roads lead to Rome." If these cars were lined up end to end, they could stretch from Beijing to Rome.
Our digital trade is also booming. According to international classification, digital trade is categorized into digitally ordered trade and digitally delivered trade. Customs primarily regulate digitally ordered trade, commonly known as cross-border e-commerce. According to preliminary statistics, China's cross-border e-commerce imports and exports reached 2.63 trillion yuan in 2024, an increase of 10.8%. Cross-border e-commerce is further unlocking its potential in "selling globally," while also continuing to leverage its advantages in "buying globally."
In addition, a higher level of opening-up has played a significant role. Comprehensive bonded zones are special customs-supervised areas in China characterized by the highest level of openness, the most concentrated preferential policies, and the most comprehensive functions. Currently, there are 167 comprehensive bonded zones spread across 31 provinces, autonomous regions and municipalities in China. These zones play a crucial role in promoting institutional openness as well as facilitating industrial transformation and upgrading. In 2024, the total imports and exports of the comprehensive bonded zones reached 6.7 trillion yuan, marking an increase of 4.7%. In other words, each area, roughly the size of a soccer field, generated over 100 million yuan in imports and exports on average.
Pilot free trade zones have effectively served as a comprehensive experimental platform for reform and opening-up, achieving a total import and export value of 8.45 trillion yuan, an increase of 10.3%. The construction of Hainan Free Trade Port is progressing steadily, with total annual imports and exports reaching 277.65 billion yuan, marking an increase of 20%. Since the implementation of separate line management policies in the Guangdong-Macao In-Depth Cooperation Zone in Hengqin, the Hengqin Port at the "first line" has been bustling with activity, effectively facilitating Hengqin-Macao integration.
That's all I would like to say for now. Thank you.
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