National Business Daily: 

We've noted that the share of private enterprises in foreign trade surpassed 50% last year for the first time. Could you please provide a brief on that? Thank you. 

Lyu Daliang: 

Thank you for your question. The CPC Central Committee and the State Council have always attached great importance to private enterprises and the private sector. Last year, a package of policies and sustainable measures was issued to stabilize the economy, and then the vitality of various market entities, including private enterprises, was unlocked. According to customs statistics, the number of private enterprises recording import and export performance reached 510,000, with their foreign trade volume totaling 21.4 trillion yuan, up by 12.9%. There are several highlights, as follows: 

First, their proportion in foreign trade improved, and private enterprises played a remarkable role in stabilizing foreign trade. The principal position of private enterprises in foreign trade has been consolidated and they have continuously served as a stabilizer. In 2022, the share of private enterprises in the scale of imports and exports reached 50.9%, up by 2.3 percentage points year on year. It's the first time that their annual proportion exceeded 50%. The contribution rate of private enterprises to China's foreign trade growth reached 80.8%.

Second, ties with traditional partners maintained advantages, and emerging markets were vigorously explored. In 2022, the imports and exports of private enterprises to ASEAN, EU, and US, China's top three trade partners, all maintained doubt-digit growth rates, which were 27.6%, 12.6%, and 10.6%, respectively, accounting for 43.9% of private enterprises' total import and export volume. At the same time, the imports and exports of private enterprises to other BRICS countries, Latin America, and the five Central Asian countries grew by 22.1%, 14.5%, and 55.1%, respectively.

Third, the export of mechanical and electrical products and the import of agricultural products grew rapidly. As for exports, in 2022, the export volume of mechanical and electrical products by private enterprises totaled seven trillion yuan, up by 15.3% year on year. Among them, the growth rates of electronic components, electrical appliances, and auto parts reached 22%, 42.5%, and 19%, respectively. As for imports, in 2022, private enterprises imported agricultural products totaling 862.06 billion yuan, up by 14.9% year on year. The growth rates of imported bronze; medicines and medical and medicinal materials; and basic organic chemicals grew by 25.3%, 15.3%, and 8.7%, respectively.

Fourth, private enterprises in central and western regions became more vitalized. In 2022, the import and export of private enterprises in central and western regions grew by 21.5% and 21.2%, respectively, accounting for 20.1% of the total import and export volume of private enterprises, which was 1.4 percentage points higher than that of the previous year.