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Source: People's Republic of China – State Council News
BEIJING, Aug. 11 (Xinhua) — Despite the challenges of a complex external environment, China's foreign trade has maintained a positive development trend since the beginning of this year, said Lu Daliang, head of the Statistics and Analysis Department of the General Administration of Customs (GAC), commenting on the country's foreign trade development results in the first seven months of 2025 last week.
According to data published by the State Customs Service, in January-July this year, China's total import and export volume in yuan terms increased by 3.5 percent year-on-year to 25.7 trillion yuan (about $3.6 trillion). In particular, exports grew by 7.3 percent. Although imports fell by 1.6 percent, the rate of decline was 1.1 percentage points less than in the first half of this year.
Recently, authoritative figures shared their opinions on the current situation and prospects for the development of China's foreign trade in interviews with leading Chinese media.
Zhou Mi, a leading researcher at the Academy of International Trade and Economic Cooperation under the Ministry of Commerce of China, told the Jingji Cankaobao newspaper that China's foreign trade has shown elasticity and vitality in the first seven months of this year, and its growth rate accelerated in July compared with June.
This shows that in the current global economic environment, the competitive advantages of China's industrial system are recognized in the international market, and many countries are actively expanding imports of goods from China, especially electromechanical and high-tech products, to meet the key needs of their economic development, he added.
Focusing on China's exports, Liu Chunsheng, an associate professor at the Beijing-based Central University of Finance and Economics, listed the main factors stimulating export growth in an interview with Zhengquan Ribao, including continuously identifying the effect of implementing incentive policies, constantly optimizing the export structure, and diversifying the placement of foreign trade enterprises in overseas markets.
According to him, at present, China's foreign trade enterprises, especially private ones, along with strengthening traditional markets such as Europe and the United States, are actively stepping up efforts to expand their presence in emerging markets including the Middle East, Southeast Asia and Latin America, and achieving remarkable results in this direction.
According to the GTU, ASEAN maintained its position as China's largest trading partner in January-July this year, with bilateral trade up 9.4 percent year-on-year, accounting for 16.7 percent of China's total foreign trade. The European Union ranked second, with bilateral trade up 3.9 percent. The United States was China's third-largest trading partner, although bilateral trade fell 11.1 percent during the period. Meanwhile, China's trade with countries participating in the Belt and Road Initiative increased 5.5 percent year-on-year.
In their analytical articles, many Chinese media outlets drew attention to the fact that China's foreign trade activity in July was better than expected. In July, the country's foreign trade turnover grew by 6.7 percent year-on-year, the highest growth rate since the beginning of this year. In particular, the volumes of exports and imports increased by 8 percent and 4.8 percent, respectively. Thus, the growth rate of exports has remained above 6 percent for five months in a row, and imports have grown for the second month in a row.
Bai Ming, a leading researcher at the Academy of International Trade and Economic Cooperation under the Ministry of Commerce of the People's Republic of China, told Xinhua News Agency that the sustainable development of China's foreign trade is not only due to strong political support from the government, but also the initiative of Chinese enterprises.
July entered the 90-day period of tariff suspension between China and the United States, buying valuable time for foreign trade companies, Bai Ming said.
Christmas and New Year are traditional peak seasons for foreign trade. At present, European and American buyers have generally started purchasing. In July, China's foreign trade companies took advantage of short-term opportunities to optimize their product portfolios and quickly increased their share in traditional markets. In addition, they accelerated the development of emerging markets such as Southeast Asia, Africa and Latin America, reducing their dependence on a single market. All this has provided strong support for stabilizing the country's foreign trade situation as a whole, Bai Ming said.
Touching upon the prospects for the development of China's foreign trade, Bai Ming noted that although the situation with its growth has improved, the external environment is complex and changeable, and pressures and challenges still exist. According to him, China's foreign trade enterprises should comprehensively expand the international market, create more new high-tech products, actively develop new formats such as cross-border e-commerce, and enhance their competitiveness by activating in various areas.
Vice-Director of the National Customs Office of China Wang Lingjun believes that despite external uncertainties, a diversified and stable market, innovative and high-quality products, and foreign trade enterprises that actively adapt to changes give China confidence and the ability to cope with various risks and challenges and advance the achievement of its goals in foreign trade work for the current year. -0-
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