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

Beijing Youth Daily:

I'd like to ask about China-EU relations. This year marks the 50th anniversary of China-EU diplomatic relations, and all parties are paying close attention to China-EU economic and trade relations. The data you mentioned earlier showed that China-EU trade achieved growth in the first half of the year. Can you provide a more detailed breakdown? Thank you.

Wang Lingjun:

Thank you. This year marks the 50th anniversary of the establishment of diplomatic relations between China and the European Union. Over the past half-century, the two sides have leveraged their economic complementarity in trade cooperation, with bilateral trade volume growing more than 300 folds. In the first half of this year, China-EU trade totaled 2.82 trillion yuan, up 3.5% year on year, with daily trade averaging more than 15 billion yuan, equal to the full-year trade volume at the time diplomatic relations were established. In the first half of the year, the EU accounted for 12.9% of China's total foreign trade value, remaining China's second-largest trading partner.

Specific trade data shows that economic and trade cooperation between China and the EU continues to deepen. On the one hand, production and supply chains are accelerating integration. For example, China and the EU complement each other in automotive technology, jointly promoting new and improved development in the industry. In the first half of the year, China's exports of auto parts to the EU rose 9.7%, while imports of large bus gearboxes and vehicle diesel engines from the EU increased 40.8% and 65.2%, respectively. On the other hand, both sides' consumer markets are deeply connected. China and the EU are both important global consumer markets and are each other's top source of imported consumer products. In the first half of the year, China's imports of medical and health products, bags, cases and jewelry from the EU accounted for more than 60% of China's total imports of these products. Meanwhile, China's exports of textiles, clothing, household appliances and laptops to the EU all achieved rapid growth.

At the same time, China and the EU have significant potential for cooperation in many fields. In terms of connectivity, as of June this year, the cumulative number of China-Europe Railway Express trains had exceeded 110,000, connecting 128 cities in China and 229 cities in Europe, thereby building a bridge for China-Europe economic and trade exchanges. In green development, cooperation between the two sides has deepened, with China's exports of wind turbines and high-voltage transformers to the EU maintaining strong growth momentum.

China has always adhered to high-quality development and high-level opening up. It is willing to work with the EU to expand mutual openness, jointly oppose unilateralism and protectionism, safeguard multilateralism and free trade, bring tangible benefits to enterprises and consumers on both sides, and inject greater stability and certainty into the global economy and trade.

Thank you.