CNBC:

I have two questions. Can you provide more details of European car exports, especially in the second quarter. The second question is about cross-border e-commerce: What is your analysis of the second-quarter data, especially that of June. 

Li Kuiwen:

I will first provide some data about trade between China and the European Union (EU). We are mutually main economic and trade partners with highly economic complementarity and huge potential for cooperation. Greater economic and trade cooperation between China and the EU will be beneficial to improving people's wellbeing, jointly addressing global challenges, and shoring up the recovery of the world economy. 

According to customs statistics, bilateral trade volume reached 2.52 trillion yuan in the first half of this year, a year-on-year increase of 26.7%, with exports hitting 1.51 trillion yuan, up 25.5%, and imports reaching 1.01 trillion yuan, up 28.5%. China-EU trade accounts for 13.9% of China's total foreign trade, making the EU China's second-largest trade partner after ASEAN. From April last year to June 2021, monthly bilateral trade maintained positive growth for 15 consecutive months, with almost eight months posting double-digit growth. In the first half of this year, 16.6% of our electromechanical products and 15.4% of labor-intensive products were exported to the EU, and 35.1% of our importing consumer goods, including cars, as you mentioned, were from the EU. The rapid growth of bilateral trade shows the vitality and resilience of China-EU trade cooperation.  

As for the cross-border e-commerce data, I have presented my findings during the general introduction just now. Thanks.