CMG Voice of China:

You just mentioned that China Customs has compiled the Trade Index between China and BRI Partner Countries. Could you please introduce the index in detail? Thank you.

Lyu Daliang:

Thank you for your question. This year marks the 10th anniversary of the BRI put forward by President Xi Jinping. Over the past 10 years, economic and trade ties between China and its BRI partner countries have grown ever closer and more dynamic. The GAC recently compiled the Trade Index between China and BRI partner countries. This index comprehensively and systematically showcases the achievements of China's foreign trade with its BRI partner countries in four aspects: trade scale, trade structure, mutual benefits, and trade facilitation.

As I mentioned earlier, the general trade index between China and its BRI partner countries rose from 100 in 2013, the base period, to 165.4 in 2022. The primary characteristics are as follows:

First, the scale of trade has expanded rapidly. Over the past 10 years, the index of trade scale between China and its partner countries has risen significantly, reaching 161.3 in 2022. The import and export volume between China and these partner countries grew from 10.11 trillion yuan in 2013 to 18.95 trillion yuan in 2022, an increase of 87.4%. The average annual growth rate stands at 7%, 1.5 percentage points higher than the overall growth rate of China's foreign trade during the same period. The proportion relative to China's total import and export volume has increased from 39.2% to 45.4%.

Second, the structure of trade has continually been optimized. Over the past 10 years, the index of trade structure between China and its partner countries has consistently risen, reaching 118.9 in 2022. China's industrial structure has dovetailed with its partner countries, resulting in tighter industrial links and a robust foundation for trade cooperation.

Third, trade has increasingly delivered mutual benefits. Over the past 10 years, mutual benefits between China and its partner countries have surged, with the mutual benefit index reaching 164 in 2022. This indicates that the level of openness, cooperation, and shared benefits between China and its partner countries has increased. Currently, China ranks the largest trade partner for 68 of its BRI partners and among the top three for 114 of them. It is also the largest import source for 74 countries and the top export market for 35 of them.

Fourth, the promotional role of trade continues to grow. In the past decade, the index on trade facilitation between China and BRI partner countries has shown a significant increase overall and reached 217.3 in 2022. Almost nine tenths of China's exports with regard to foreign contracted projects are destined for BRI partner countries, and a series of co-constructed projects, including ports, railways, bridges, and overseas industrial parks, have been launched successively. At the same time, international logistics channels between China and BRI partner countries have constantly expanded, effectively promoting trade growth. Take the China-Europe Railway Express as an example: freight trains linking China and Europe operating in both directions increased to 16,000 in 2022 from 80 in 2013, now connecting more than 200 cities in 25 countries.

More information about the trade index between China and BRI partner countries will be released in the "Trade Indices" column on our portal website and updated annually. We welcome your attention and thank you.