天量配资 Data in China | Up 15% in Q1! China's foreign trade got off to a strong start

According to data released by the General Administration of Customs of China, the country's total goods imports and exports reached 11.84 trillion yuan in the first quarter of this year, increasing by 15 percent year on year. Exports rose by 11.9 percent to 6.85 trillion yuan, while imports increased by 19.6 percent to 4.99 trillion yuan.

"The relatively fast growth in foreign trade in the first quarter was underpinned by China's solid fundamentals, strong vitality and robust momentum," Wang Jun, Vice Minister of the General Administration of Customs, said at a press conference held by the State Council Information Office. He noted that first-quarter trade exceeded 11 trillion yuan for the first time on record for the same period, while the quarterly growth rate reached its highest level in nearly five years.

On the export side, China's exports totalled 6.85 trillion yuan in the first quarter, up by 11.9 percent year on year. Exports to the Association of Southeast Asian Nations grew by 17.5 percent, while exports to the European Union and the United Kingdom increased by 18 percent and by 15.3 percent, respectively. In addition, the rapid growth of the global artificial intelligence sector and green, low-carbon industries has driven a notable increase in demand for smart and green products.

Mechanical and electrical products as well as high-tech products continued to serve as the mainstay of exports. In the first quarter, China's exports of mechanical and electrical products reached 4.34 trillion yuan, increasing by 18.3 percent year on year and accounting for 63.4 percent of the country's total exports, up by 3.5 percentage points from the same period last year.

Among them, exports of electric vehicles surged by 77.5 percent, lithium batteries rose by 50.4 percent, and exports of green products such as wind turbines and related components increased by 45.2 percent.

"With a complete industrial support system, China continues to provide stable and reliable production supplies for industrial development across the world, while offering local consumers a rich variety of choices," Wang said. In the first quarter, exports of equipment manufacturing products reached 4.25 trillion yuan, rising by 19.2 percent year on year and accounting for more than 60 percent of total exports. Exports of products from the computer, communications and other electronic equipment manufacturing sector, as well as transport equipment such as railway and shipping equipment, both grew by more than 20 percent.

In addition, the deep integration of technological innovation and industrial innovation has brought an increasing number of innovative products to market, creating new demand. For example, in the first quarter, China's exports of 3D printers jumped by 119 percent year on year, while exports of digital cameras rose by 32.7 percent.

Overall, Wang said that the growth in China's exports reflects a combination of factors, including recovering external demand, a well-developed domestic industrial support system, and the release of innovation-driven momentum among business entities. With continuous improvements in quality, efficiency and services, "Made in China" will continue to meet production and consumption needs across different sectors and market segments worldwide.

Text by Li Ruoyi, Ma Ziqian/China Youth Daily

Graphics by Li Ruoyi/China Youth Daily