According to a report by China News Service, China's foreign trade "report card" for the first quarter was unveiled on April 14. Despite the shadow of global trade challenges, China's foreign trade continues to push forward steadily. Data released by the General Administration of Customs shows that the total import and export value of China's goods trade in the first quarter reached 10.3 trillion yuan (RMB, the same below), marking a year-on-year increase of 1.3%, a historical high for the same period, and exceeding 10 trillion yuan for eight consecutive quarters. Under external pressures such as rising trade protectionism and increased geopolitical risks, exports still demonstrate strong resilience.
In the first quarter, China's exports exceeded 6 trillion yuan, with a year-on-year increase of 6.9%, seeing growth in exports to over 170 countries and regions. Lu Daliang, spokesperson for the General Administration of Customs and director of the Department of Statistical Analysis, stated at a press conference that while China's exports face a complex and severe external situation, "the sky will not fall."
Lu indicated that, on one hand, market diversification is continuously advancing. In the first quarter, China's imports and exports with traditional markets like Germany, Spain, and the UK showed rapid growth. Trade with countries involved in the Belt and Road Initiative reached 5.26 trillion yuan, a year-on-year increase of 2.2%, setting a new historical high for the same period. Trade with ASEAN countries reached 1.71 trillion yuan, a year-on-year increase of 7.1%, raising the proportion of China's overall foreign trade to 16.6%.
Limited Impact from Individual Market Changes
The increasing diversity of trading partners means that China's ability to withstand external risks and uncertainties is strengthened, making the impact of changes in individual markets on China's foreign trade more limited.
On the other hand, the vitality of private enterprises is becoming more prominent. In the first quarter, the import and export of private enterprises in China grew by 5.8% year-on-year, accounting for 56.8% of the total, with growth in trade with nearly 180 countries and regions worldwide. The increasing activity of private enterprises indicates that the vitality and resilience of China's foreign trade are further improving.
Record-high Exports of High-Tech Products
Official data shows that in the first quarter, private enterprises' import and export of high-tech products reached a historical high of nearly 1 trillion yuan, maintaining their position as the largest import and export entity.
From the product perspective, the "new content" in foreign trade is increasingly high, injecting more developmental momentum. In the first quarter, the import and export of equipment manufacturing products grew by 7.6% year-on-year, accounting for a significant portion of foreign trade. The export scale of self-branded products continues to grow year by year, with their proportion rising further to 22.8% of total exports in the first quarter.
China's manufacturing is undergoing a strong transformation towards high-end, intelligent, and green development. For instance, the export of ships and marine engineering equipment has maintained growth for four consecutive years, with a further increase of 10.8% in the first quarter. Chinese new energy products continue to play an important role in the global green transition, with exports of wind turbines, lithium batteries, and electric vehicles increasing by 43.2%, 18.8%, and 8.2%, respectively.
China's Foreign Trade Expected to Remain Stable
Recently, U.S. tariff policies have impacted the global trade order, increasing external uncertainty. However, analysts believe that considering China's economic resilience and the continued strengthening of stable foreign trade policies, China's foreign trade is likely to remain stable in the future.
Zhou, a researcher at the Chinese Academy of International Trade and Economic Cooperation, analyzed that U.S. tariff policies may lead to fragmentation or disruption of global supply chains, but China has a relatively complete industrial and supply chain advantage, which can help more countries face rapidly changing external environments, further supporting China's foreign trade.
Lu stated that in recent years, China has actively built a diversified market and deepened cooperation in industrial and supply chains with various parties. This not only empowers the development of others but also enhances China's own resilience. At the same time, China has a vast domestic market, which is an important support. "We will steadfastly manage our own affairs, using our certainty to cope with external uncertainties."
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