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E-mail China.org.cn, February 24, 2025
Xing Huina:
We will have one last question.
Red Star News:
As mentioned earlier, last year, China's foreign trade experienced a rise in quality while maintaining stability in quantity. What factors are supporting the high-quality growth of the country's foreign trade? What is your forecast for the foreign trade trend in 2025? Thank you.
Wang Lingjun:
Thank you. This is a transitional question that connects the past with the future. In 2024, China navigated a complex and challenging external environment; nonetheless, its foreign trade achieved high-quality growth throughout the year, a feat that was not easily accomplished. This can be attributed to three factors.
First, policy coordination provided timely support for the development of high-quality foreign trade. In recent years, China has made continuous efforts to expand high-level openness, which has facilitated stable growth in foreign trade. While continuing to implement existing policies, last year, the Political Bureau of the CPC Central Committee decisively deployed a package of incremental policies and swiftly introduced a new round of measures to boost stable foreign trade growth. These measures significantly contributed to the foreign trade increase in the fourth quarter, reaching a record high of 11.51 trillion yuan, representing a 0.4 percentage point increase from the third quarter. Especially in December, the scale of imports and exports surpassed 4 trillion yuan for the first time, setting a new monthly record with the growth rate rising to 6.8%. This marked a successful conclusion to the year's foreign trade.
The upgraded version of "Made in China" and the expansive Chinese market are the driving forces behind the high-quality development of foreign trade. We have a complete industrial system, with scientific and technological innovations driving the continuous development of new quality productive forces. The iterative upgrading of Chinese manufacturing is providing our trade partners with more high-end, green and intelligent products. For example, our washing machines, equipped with the AI-powered "smart wash" function, can automatically detect the weight and fabric of the clothes to select the optimal washing mode. We also offer a smart cooking machine with a variety of built-in menus, enabling users to enjoy dishes that strike a perfect balance of color, aroma, taste and presentation within minutes of adding the ingredients and pressing a button. With this technology, anyone can cook like a star chef. How could smart home appliances like these not be popular? Smart home devices have revitalized the traditional home appliance industry, contributing to a 15.4% increase in China's home appliance exports compared to the previous year.
China continues to be the world's most promising market. Last year, China imported nearly 3 billion tons of bulk commodities, mechanical and electrical products worth over 7 trillion yuan, and consumer goods valued at nearly 1.8 trillion yuan, effectively meeting diverse production and consumption demands. At the same time, the doors of the Chinese market are opening wider, with an increasing number of cross-border personnel gaining easier access to enter and exit the country. This not only boosts consumption but also deepens international exchanges and cooperation, infusing vitality into international trade.
Business entities moving forward with determination have injected sustained momentum into the high-quality development of foreign trade. Just at the beginning, we noted that the last customs declaration form was submitted just before midnight on Dec. 31, 2024. This was one of more than 88 million forms submitted, each reflecting the efforts of foreign trade enterprises to overcome challenges and their dedication to hard work. It is the relentless efforts, innovative spirit, and diligent management of these enterprises that have solidified the foundation of foreign trade and further invigorated its development.
Currently, the external environment is becoming increasingly complex, characterized by growing uncertainties and instabilities. Geopolitical factors, unilateralism and protectionism pose significant challenges to the stable growth of foreign trade. At the same time, major international economic organizations predict that global goods trade will continue to grow this year. The fundamentals of China's economy — stable foundation, numerous advantages, strong resilience and significant potential — remain unchanged, and the supporting factors for promoting high-quality development in foreign trade continue to be solid. Looking ahead, customs will follow the directives of the Central Economic Work Conference, continuously improving regulatory efficiency and service levels to further promote the stable and long-term development of China's foreign trade. We will also regularly update the media on the latest developments. Thank you.
Xing Huina:
Today's press conference is hereby concluded. Please get in touch with us if you have any further questions. Thank you to Mr. Wang and the two speakers, and thank you to the media for your attention. Goodbye, everyone!
Translated and edited by Xu Xiaoxuan, Gong Yingchun, Liu Jianing, Liao Jiaxin, Mi Xingang, Xu Kailin, Wang Yiming, Wang Xingguang, Zhu Bochen, Zhang Tingting, Wang Wei, Wang Qian, Li Huiru, Zhang Rui, Li Xiao, Liu Sitong, Wang Yanfang, Jay Birbeck and David Ball. In case of any discrepancy between the English and Chinese texts, the Chinese version is deemed to prevail.
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