Data released by the General Administration of Customs shows that in the first half of this year, China's total imports and exports of goods trade reached 21.17 trillion yuan, exceeding 21 trillion yuan for the first time in the same period in history and hitting a new record, with total imports and exports growing 6.1% year on year. Of this, exports reached 12.13 trillion yuan, up 6.9%, and imports reached 9.04 trillion yuan, up 5.2%.

　　Foreign trade is an important window through which to observe China's economy. Since the fourth quarter of last year, the growth rate of China's foreign trade imports and exports has accelerated quarter by quarter, tracing a clear upward curve. In the second quarter, foreign trade imports and exports grew 7.4% year on year, 2.5 percentage points and 5.7 percentage points higher than in the first quarter and the fourth quarter of last year respectively, further consolidating the positive momentum of foreign trade.

　　"Growth exceeded expectations" is how many international organizations have assessed China's import and export data for the first half of the year. Against the backdrop of weak momentum in world economic growth and increasing external uncertainties and destabilizing factors, China's foreign trade exports have improved in quality while holding steady in volume, and the scale of imports has steadily expanded, injecting confidence and impetus into the world economy. The International Monetary Fund (IMF) released its World Economic Outlook report on July 16 local time, raising its forecast for China's economic growth in 2024 to 5%. IMF Chief Economist Pierre-Olivier Gourinchas said that China's strong consumption data in the first quarter and its export performance were the main basis for the IMF's upward revision.

　　The fact that China's foreign trade "growth exceeded expectations" comes from the strong support of industrial transformation and upgrading and technological innovation and development.

　　China has persisted in comprehensively deepening reform, unswervingly advanced high-standard opening up, and successively introduced a series of policies and measures to promote scientific and technological innovation, industrial upgrading and stabilize foreign trade. New quality productive forces have been cultivated and grown at an accelerated pace, the competitiveness of high-tech manufacturing has continued to strengthen, and the export advantages of key products have been continuously consolidated.

　　On July 13, the China-Europe freight train (Yiwu), fully loaded with 110 TEUs of goods including machinery and equipment, home appliances, electronic products, and textiles and garments, sounded its whistle and departed from Yiwu West Railway Station under the supervision of Yiwu Customs, bound for Duisburg, Germany; on July 12, the "Minjiangkou", a 7,500-berth LNG dual-fuel new-type car carrier, docked on its maiden voyage at Haitong Terminal in the Waigaoqiao Port Area of Shanghai. Under the supervision and support of Shanghai Waigaoqiao Port Area Customs under Shanghai Customs, it was to load 4,853 vehicles of domestic brands such as SAIC Maxus, Changan and BYD for the Persian Gulf... "Made in China" sets sail overseas, injecting positive energy into the recovery and development of the global economy.

　　In the first half of the year, China exported 7.14 trillion yuan of mechanical and electrical products, up 8.2% year on year, accounting for nearly 60% of total export value. Among them, exports of automatic data processing equipment and parts, integrated circuits, and automobiles grew 10.3%, 25.6% and 22.2% respectively.

　　The fact that China's foreign trade "growth exceeded expectations" would not be possible without the proactive efforts of market entities.

　　Facing a complex and ever-changing overseas market, Chinese enterprises have adapted and sought change, innovated and explored new ground, and imports and exports by private enterprises, foreign-invested enterprises and state-owned enterprises all achieved growth. In the first half of the year, imports and exports by private enterprises reached 11.64 trillion yuan, up 11.2%, accounting for 55% of China's total foreign trade value, 2.5 percentage points higher than the same period last year, continuing to maintain their position as China's largest foreign trade entity.

　　Avonflow in Shangrao, Jiangxi, is a private enterprise specializing in the production of HVAC home products. Its products are sold to more than 60 countries and regions, with about 1.3 million sets exported to Europe each year, accounting for about 50% of the European market share. "In the first half of this year, Avonflow exported about 330 million yuan of products such as towel racks and valves, up more than 30% year on year," said Wang Yong, a relevant person in charge of Avonflow. "Only by mastering core technologies can a company maintain its competitive advantage. By the end of 2023, the company had obtained more than 700 state-authorized patents, including more than 70 invention patents."

　　The fact that China's foreign trade "growth exceeded expectations" benefits from the positive results of economic and trade cooperation.

　　Since the beginning of this year, the China-Ecuador Free Trade Agreement has officially entered into force, and the sixth round of negotiations on Version 3.0 of the China-ASEAN Free Trade Area has made progress. In June, the Regional Comprehensive Economic Partnership (RCEP) marked one full year since its full entry into force, and ASEAN's economic and trade ties with China have become even closer... China's economic and trade "circle of friends" is growing ever larger.

　　In the first half of the year, ASEAN was China's largest trading partner, with total trade between China and ASEAN reaching 3.36 trillion yuan, up 10.5% year on year, accounting for 15.9% of China's total foreign trade value; China's total imports and exports with Belt and Road partner countries reached 10.03 trillion yuan, up 7.2% year on year.

　　It must be noted that the rise of protectionism and unilateralism has led to a marked increase in global trade barriers. Affected by factors such as the uncertain economic trajectory of major trading partners and order diversion, China's foreign trade will still face pressure in the second half of the year. We must rise to the challenges, pursue innovative development, accelerate the cultivation of new drivers of foreign trade, further consolidate the positive momentum of foreign trade, and promote the stable operation of industrial and supply chains. Based on the strong resilience of the Chinese economy and the continued release of the vitality of foreign trade, China's foreign trade is expected to maintain steady growth in the second half of the year, and there is solid support for achieving the full-year development goal of "improving quality while keeping volume steady."