Shou Xiaoli:

Ladies and gentlemen, good morning. Welcome to this press conference held by the State Council Information Office (SCIO). Today, we will have our routine release of economic data, and we are very pleased to invite Mr. Lyu Daliang, the spokesperson for the General Administration of Customs (GAC) and director general of the Department of Statistics & Analysis of the GAC, to introduce China's import and export situation for the first three quarters of 2023, and to answer your questions.

Now, I'll give the floor to Mr. Lyu.

Lyu Daliang:

Ladies and gentlemen, friends from the media, good morning and welcome to today's press conference. I'm delighted to see you all again. First, I would like to provide you an overview of China's import and export situation for the first three quarters of this year. Afterward, I'll be happy to answer any questions you might have.

In the first three quarters of this year, faced with a complex and severe external environment as well as multiple domestic challenges and difficulties, China, under the strong leadership of the Central Committee of the Communist Party of China (CPC) with Comrade Xi Jinping at its core, adhered to the general principle of seekingprogress while maintaining stability. The economy overall demonstrated signs of recovery and improvement, high-quality development was solidly advanced, and the import and export of goods trade proceeded smoothly with positive momentum. According to customs statistics, the total value of imports and exports in the first three quarters amounted to 30.8 trillion yuan, marking a slight decrease of 0.2% year-on-year. Of this, exports accounted for 17.6 trillion yuan, representing an increase of 0.6% year on year; while imports totaled 13.2 trillion yuan, reflecting a decline of 1.2% year on year. Upon detailed analysis, this performance showcases five main characteristics:

First, the scale of foreign trade has been stable with signs of growth, setting a new monthly high in September.When examined on a quarterly basis, imports and exports have risen incrementally: the first, second and third quarters recorded imports and exports of 9.72 trillion yuan, 10.29 trillion yuan and 10.79 trillion yuan,respectively. On a monthly basis, imports and exports for September alone reached 3.74 trillion yuan, marking consecutivegrowth for the previous two months and setting a new monthly high for the year.

Second, private enterprises have experienced relatively rapid growth in imports and exports. In the first three quarters, China's private enterprises recorded an import and export value of 16.34 trillion yuan, an increase of 6.1% year on year, accounting for 53.1% of China's total import and export value. During the same period, foreign-invested enterprises had an import and export value of 9.42 trillion yuan, while state-owned enterprises reported 4.95 trillion yuan, accounting for 30.6% and 16.1%, respectively.

Third, imports and exports with Belt and Road Initiative (BRI) partner countries have outperformed the overall figures. In the first three quarters, China's imports and exports with BRI partner countries reached 14.32 trillion yuan, representing a year-on-year increase of 3.1% and accounting for 46.5% of the total import and export value. This year marks the 10th anniversary of the BRI's proposal. To fully showcase the trade development achievements between China and BRI partner countries over the past decade, we recently compiled a specific trade index for China and BRI partner countries. This index rose from a base of 100 in 2013 to 165.4 in 2022, underlining the continuously strengthening role of the BRI in promoting trade.

Fourth, the proportion of exported electromechanical products has increased. In the first three quarters, China's exports of electromechanical products reached 10.26 trillion yuan, a year-on-year increase of 3.3%, accounting for 58.3% of the total export value, and an increase of 1.5 percentage points compared to the same period last year. Among them, automobiles and their parts, ships and electrical equipment grew by 48.2%, 26.8% and 16.2%, respectively. During the same period, the export of labor-intensive products amounted to 3.07 trillion yuan, accounting for 17.5%.

Fifth, the import of bulk commodities and consumer goods has expanded. In the first three quarters, China's imports of bulk commodities such as energy, metal ore and grain increased by 16.5% year on year. Among these, energy products such as crude oil, natural gas and coal amounted to 860 million metric tons, marking an increase of 31.8%; and metals such as iron and aluminum totaled 1.086 billion tons, reflecting a growth of 7.8%. During the same period, the import of consumer goods reached 1.46 trillion yuan, registering a growth of 3.1%. Notably, dried and fresh fruits and nuts, as well as healthcare products, witnessed growth rates of 22.8% and 18.5%, respectively.

In conclusion, amid the unstable global economic recovery, China's foreign trade has withstood the pressure, continued to stabilize its scale and promote structural optimization, and achieved many positives. It is believed that, with the continued improvement in China's economic performance and the growing internal driving forces, the practical measures taken to stabilize foreign trade will continue to yield results. Import and export operation will be more stable, and quality and efficiency will be further improved. Therefore, the goals of promoting stability and improving quality will certainly be achieved.

The GAC has undertaken the duty and mission of safeguarding the country's borders and promoting development. This year marks the 20th anniversary of the implementation of the customs rank system in China. Recently, General Secretary Xi Jinping wrote a letter in response to the customs officers of the Khunjerab Pass, expressing his earnest expectations for the customs system to better fulfill its responsibilities and mission. This indicates the direction and fundamental principles for us to carry out the customs work in the new era and on the new journey. The GAC will thoroughly study and implement the important instructions and important replies of General Secretary Xi Jinping regarding customs work in the new era. We should accelerate the construction of smart customs and the action of "smart ports strengthening the nation," strengthen security at the borders and promote high-quality development and high-level opening-up. We will also fulfill our role as guardian to reassure the Party and satisfy the people, and actively contribute to the construction of a strong country and national rejuvenation. Thank you.

Shou Xiaoli:

Thank you for your introduction, Mr. Lyu. The floor is now open for questions. Please identify the media outlet you represent before asking your questions.