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E-mail China.org.cn, February 24, 2025
Xing Huina:
The floor is now open for questions. Please identify the media outlet you represent before asking your question.
China Media Group:
The year 2024 was crucial for China in achieving the goals and tasks outlined in the 14th Five-Year Plan (2021-2025). You mentioned earlier that China's foreign trade last year saw substantial growth in volume, rate and quality. Could you please elaborate on the features and achievements in the high-quality development of China's foreign trade? Thank you.
Wang Lingjun:
Thank you for your question. High quality requires both quantity and quality. First, let's begin with quantity. Our total import and export value, as I mentioned earlier, reached 43.85 trillion yuan last year, marking a 5% increase. This represents a remarkable expansion of 11.63 trillion yuan compared to 2020, the final year of the 13th Five-Year Plan (2016-2020). This increase surpasses the cumulative growth achieved during the entire 13th Five-Year Plan period by a factor of 1.5. According to the latest data from the World Trade Organization (WTO), China's share of the global export and import markets reached 14.5% and 10.5%, respectively, in the first three quarters of last year. This signifies year-on-year increases of 0.3 percentage point and 0.1 percentage point, respectively. These figures reinforce China's position as the world's largest goods trader.
Then, in terms of quality, China's foreign trade exhibits four key characteristics:
First, the structure has improved. The structure of China's export products continues to be optimized and upgraded. Last year, exports of mechanical and electrical products surged by 8.7%, increasing their share of total exports by 0.9 percentage point to 59.4%. Notably, high-end equipment exports within this sector demonstrated robust growth, exceeding 40%. Imported products have shown increased diversity and effectiveness. Imports of mechanical and electrical products rose by 7.3%, while bulk commodity imports increased by 5%. Notably, the proportion of energy and mineral products imported from Belt and Road partner countries increased by 0.3 percentage point.
Second, the "new" elements in foreign trade have become more prominent. In 2024, China witnessed a surge in the emergence of new products, new business formats and new brands. This substantially increased the presence of "new elements" in foreign trade. Increased exports of high-tech products, such as electric vehicles, 3D printers and industrial robots, demonstrated robust growth, achieving impressive year-on-year increases of 13.1%, 32.8% and 45.2%, respectively. The annual import and export value through new cross-border e-commerce business formats reached 2.63 trillion yuan, surpassing the 2020 figure by 1 trillion yuan. Independent brands have garnered significant global attention, with their share of China's total exports increasing by 0.8 percentage point year on year to 21.8%. Notably, domestic fashion brands have successfully cultivated a unique "Chinese style" that has resonated with global consumers.
Third, the role of business entities has been significantly strengthened. In 2024, nearly 700,000 business entities in China engaged in import and export activities, setting a new record. The GACC hosted the 6th World Customs Organization (WCO) Global Authorized Economic Operator (AEO) Conference in Shenzhen last year. This event catalyzed a surge in foreign trade companies seeking AEO certification, a globally recognized "major brand" of trade facilitation. By the end of 2024, the number of companies with AEO qualifications reached 6,338 in China, a substantial increase of 612 compared to the end of 2023.
Fourth, we have forged trade ties with a wider range of partners across the globe. In 2024, China engaged in trade with nearly all nations and regions listed on the U.N. statistical classification. Compared to 2023, we established trade ties with one new export partner and four new import partners, achieving significant growth in both imports and exports through trade with over 160 partners.
To sum up, China's foreign trade achieved significant progress in 2024, with both reasonable growth in quantity and a marked improvement in quality, truly representing high-quality development. Thank you.
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