​SCIO briefing on China's imports, exports in H1 2025

Nanfang Daily, Nanfang Plus:

You just introduced an overview of China's imports and exports in the first half of the year. How would you evaluate this performance? What specific highlights and positive developments can you share? What are your expectations for the trajectory of foreign trade in the second half of the year? Thank you.

Wang Lingjun:

Thank you. Since the beginning of this year, in the face of a complex and challenging international environment, China's foreign trade has demonstrated strong resilience, achieving growth in total volume, improvement in quality, and control of key variables.

First, there has been growth in total volume. China's imports and exports have remained above 10 trillion yuan for nine consecutive quarters. In the first half of this year, the total value of imports and exports rose by more than 600 billion yuan compared with the same period last year. In June, imports, exports and total trade all registered year-on-year growth, with growth rates rebounding. Specifically, the total value of imports and exports in June reached 3.85 trillion yuan, up 5.2% from a year earlier. This was the second-highest monthly trade volume on record. Exports reached 2.34 trillion yuan, up 7.2%, with relatively fast growth in products such as electronic components and ships. Meanwhile, imports reached 1.51 trillion yuan, up 2.3%, with notable increases in parts for automatic data processing equipment and fresh and dried fruit.

Second, there has been an improvement in quality. Chinese foreign trade enterprises have seized the opportunity presented by the global energy transition, steadily increasing the supply of high-quality green products while accelerating the development of new sectors and growth drivers. In the first half of the year, exports of lithium batteries and wind turbines each grew by more than 20%. Recently, robot football matches, known in China as "Jichao," have attracted wide attention. From dancing and marathon running to playing football, robots are growing increasingly versatile, demonstrating the innovative strength of China's robotics industry. Last year, China became the world's second-largest exporter of industrial robots. In the first half of this year, exports grew 61.5%. Robots used for cooking, cleaning, food delivery and entertainment are becoming increasingly intelligent, bringing greater convenience to consumers worldwide.

Lastly, key variables have remained under control. In the face of unilateralism and protectionism, we have continued expanding our network of partners, strengthened economic and trade cooperation, and worked to boost business confidence, joining together to address rapid changes in the global environment. In the first half of the year, China's imports and exports with more than 190 countries and regions registered growth. The number of trading partners with a trade volume exceeding 50 billion yuan reached 61, an increase of five from the same period last year. While traditional markets such as the EU, Japan and the United Kingdom saw growth, emerging markets contributed more significantly to the overall increase. In the first half of the year, China's imports and exports with Africa reached 1.18 trillion yuan, rising 14.4%, while trade with Central Asia hit 357.2 billion yuan, up 13.8%. Overcoming challenges depends crucially on boosting confidence. The latest China Customs Trade Climate Survey shows that confidence among both export and import enterprises has risen for two consecutive months.

At present, certain countries are arbitrarily imposing tariffs in violation of international trade rules, creating serious challenges for global economic development. Recently, several international organizations have lowered their forecasts for global trade growth this year. Despite external uncertainties, China possesses key strengths in its foreign trade sector: a diversified and stable market, innovative high-quality products, and adaptive, forward-looking business entities. These advantages give us the confidence, resilience and ability to manage various risks and challenges.

Thank you.