BEIJING -- China's total import and export of goods expanded 5 percent year-on-year in yuan terms in the first quarter (Q1) of 2024, setting new records in both scale and growth rate, official data showed Friday.
From January to March, the country's foreign trade in goods stood at 10.17 trillion yuan (about $1.43 trillion), according to the General Administration of Customs (GAC).
Exports from the world's second-biggest economy were 4.9 percent higher year-on-year to reach 5.74 trillion yuan, while imports rose 5 percent to 4.43 trillion yuan, the data showed.
An aerial drone photo taken on March 12, 2024 shows vehicles for export parking at Jiangyin terminal of Fuzhou Port in Fuzhou, Southeast China's Fujian province. [Photo/Xinhua]
TRADE BOOM
Historically, for the first time, the country's foreign trade scale has exceeded 10 trillion yuan during the same period, while the growth rate has hit a six-quarter high, GAC deputy head Wang Lingjun told a press conference.
In the first quarter, China's trade with countries participating in the Belt and Road Initiative (BRI) and other BRICS nations has shown a growth rate that surpasses the overall growth rate.
Trade with BRI partner countries reached 4.82 trillion yuan, marking a 5.5 percent increase and accounting for 47.4 percent of China's total trade volume, the data showed. Trade with the European Union, the United States, the Republic of Korea, and Japan accounted for a combined share of 33.4 percent of the total.
Trade with Latin America and the five Central Asian countries has achieved double-digit growth. In the same period, the trade with traditional markets such as the United States and Japan has shown a positive recovery, with the decline in the first quarter imports and exports narrowing by 5.9 percentage points and 1.2 percentage points, respectively, compared to 2023.
Structurally, China's export portfolio has demonstrated strength in the machinery and electronics sector, as well as labor-intensive products, signaling the continued international competitiveness of these goods. Imports of bulk commodities and consumer goods have expanded steadily, indicating a healthy and growing domestic demand.
Wang said that Chinese products had garnered widespread acclaim globally, a testament to the country's focus on innovation and quality.
"The global popularity of Chinese engineering machinery is a direct result of their reliability, durability, and superior performance, along with comprehensive after-sales support," he said. "These machines are in high demand worldwide and are a common sight on major construction projects overseas."
Wang also underscored that China has consistently maintained its position as the world's second-largest import market for 15 consecutive years, with a cumulative import volume nearing 200 trillion yuan.
"In the first quarter of this year, we have seen a 'volume and price increase' in our imports, with import volume reaching a new high. This demonstrates that China's vast market presents significant opportunities for the world," Wang noted.
An aerial drone photo taken on Feb. 2, 2024 shows an international container terminal of Tianjin Port in North China's Tianjin. [Photo/Xinhua]
GROWTH TO STAY
Amid profound shifts in the international environment and numerous severe challenges facing global economic development, China's foreign trade sector is confronted with heightened tests, Wang said.
"However, amid these external pressures, the fundamental strength of China's economy remains on an upward trajectory, with a solid foundation underpinning the sustained improvement in its foreign trade," he noted.
It is expected that China's imports and exports will continue to show an upward trend in the second quarter of 2024, and the first half of the year is anticipated to register a growth trajectory, said Wang.
China has targeted its economic growth at around 5 percent for 2024, a goal that officials and experts believe is well within reach considering the country's sound economic fundamentals and supportive macroeconomic policy mix.
The latest trade figures have joined a series of positive economic data points emerging since March. The purchasing managers' index (PMI), a critical gauge of manufacturing and services sector health, has also reported improvements in March, with PMI for the manufacturing sector bouncing back to the expansion zone.
Looking ahead, Wang outlined customs initiatives, which include enhancing trade facilitation, improving port business environments, assisting enterprises with cost reduction and fee relief, and nurturing new drivers for foreign trade.
"We will introduce additional effective policy measures in a timely manner to fully support the qualitative and quantitative stability of China's foreign trade," he said.
周五官方数据显示，2024年第一季度中国货物进出口总额以人民币计算同比增长5%，规模和增速均创历史新高。
根据海关总署(GAC)的数据，1月至3月，中国货物贸易额为10.17万亿元人民币（约合1.43万亿美元）。数据显示，作为全球第二大经济体出口同比增长4.9%，达到5.74万亿元人民币；进口增长5%，达到4.43万亿元人民币。
贸易繁荣
海关总署副署长王令军在新闻发布会上表示，历史上同期我国对外贸易规模首次突破10万亿元人民币，增速创六个季度新高。今年的一季度，中国与“一带一路”沿线国家及金砖国家贸易增速均高于总体增速。数据显示，与“一带一路”沿线国家贸易额4.82万亿元，增长5.5%，占我国贸易总额的47.4%。与欧盟、美国、韩国、日本的贸易合计占总量的33.4%。与拉美、中亚五国贸易实现两位数增长。
同期，与美国、日本等传统市场贸易呈现积极复苏态势，一季度进出口降幅较2023年分别收窄5.9和1.2个百分点。我国出口机械电子产品和劳动密集型产品表现强劲，体现了这些产品持续的国际竞争力。大宗商品和消费品进口稳步增长，表明国内需求健康增长。王毅表示，中国产品在全球获得广泛赞誉，体现了中国对创新和质量的重视。他表示：“中国工程机械在全球的受欢迎，直接得益于其可靠性、耐用性、卓越的性能以及全面的售后支持。这些机器在全球范围内需求量很大，并且在海外大型建筑项目中十分常见。”
王毅还强调，中国连续15年保持世界第二大进口市场地位，累计进口额接近200万亿元人民币。 “今年一季度，我们的进口‘量价齐升’，进口量再创新高。这说明中国广阔的市场给世界带来了巨大机遇。”
保持增长
王毅表示，当前，国际环境发生深刻变化，世界经济发展面临诸多严峻挑战，中国外贸发展面临更加严峻的考验.“然而，在外部压力下，中国经济的基本面依然向好，外贸持续好转有坚实基础。”
预计2024年第二季度，我国进出口将继续呈现回升态势，上半年有望呈现增长态势。中国制定了2024年经济增长5%左右的目标，官员和专家认为，考虑到中国良好的经济基本面和支持性的宏观经济政策组合，这一目标完全可以实现。
最新的贸易数据是自三月份以来出现的一系列积极经济数据的一部分。采购经理人指数（PMI）是衡量制造业和服务业健康状况的重要指标，3月份也有所改善，制造业PMI反弹至扩张区域。
展望未来，王毅介绍了海关在提升贸易便利化、改善口岸营商环境、帮助企业降本减费、培育外贸新动能等方面的举措，王毅表示“我国将适时出台更多有效政策措施，全力支持我a国外贸质和量稳定。”
