Beijing, August 23: This year, China’s foreign trade has maintained a balance between supply and demand. For five consecutive months, import growth has outpaced export growth. China stands as a major seller in global supply and a key buyer in global demand.
In the first seven months of this year, China’s imports surged by 22% compared to last year, marking the fifth month in a row where import growth exceeded export growth. In the first half of this year, imports reached 10.74 trillion yuan, surpassing 10 trillion yuan for the first time in history for this period. China has implemented zero tariffs on 63 countries, reducing the overall tariff rate to 7.3%.
China is a primary export destination for nearly 80 countries and regions and has been the world’s second-largest import market for 17 consecutive years, with an average annual growth rate of 5.1%.
China’s foreign trade is achieving bilateral balance through active expansion in imports. Several international organizations have noted that the continuous increase in imports from China’s vast market is providing strong momentum for the stable operation of global supply chains and the growth of world trade.
The results of China’s proactive policies to boost imports are becoming evident, with positive growth recorded from over 150 trading partners.
The expanding Chinese market is becoming a crucial hub for global goods, resources, technology, and equipment. The Chinese market is not only the final destination for goods but also a significant platform for sharing opportunities within the global industrial chain.
(Source: China Media Group, Beijing)
Leave a Comment