CMG:

We are all aware that the first half of this year saw a complex and challenging international situation, placing significant pressure on economic and trade cooperation. Despite these circumstances, China's exports still maintained growth. Could you please provide more details? Thank you.

Lyu Daliang:

Thank you for your question. Since the beginning of this year, despite increasing external pressure and challenges, China's exports have maintained a steady growth momentum. In the first half of the year, China's exports exceeded 13 trillion yuan for the first time in the same period historically, up 7.2% year on year.

In terms of foreign trade entities, all three types of enterprise recorded export growth in the first six months. Specifically, private enterprises exported 8.52 trillion yuan, up 8.3%; foreign-funded enterprises exported 3.49 trillion yuan, up 5.4%; and state-owned enterprises exported 968.73 billion yuan, up 3.8%. The number of exporting enterprises in China has grown steadily in recent years, reaching over 300,000 in 2015, 400,000 in 2019, and 500,000 in 2023 — an average increase of 100,000 every four years. The upward trend continued with 8.5% growth in the first half of this year.

In terms of export markets, both traditional and emerging markets registered growth. In the first half of the year, China's exports to traditional markets such as the EU, Japan, and the U.K. grew steadily, while exports to emerging markets such as ASEAN, Central Asia and Africa achieved double-digit growth. China has supplied production equipment and technology to emerging markets, improving local production and employment. Exports of machine tools to ASEAN, agricultural machinery to Central Asia, and textile machinery to Africa all increased significantly.

In terms of main export products, innovation has become a more prominent defining feature. In the first half of the year, China's exports of high-tech products rose 9.2%, maintaining growth for nine consecutive months. Among them, exports of high-end machine tools, ships and marine engineering equipment all grew by more than 20%, while exports of instruments and meters rose 14.7%. We have also promoted greater self-reliance and strength in science and technology to develop more Chinese brands. As a result, Chinese brands accounted for 32.4% of total high-tech product exports, up 1.2 percentage points from the same period last year. Additionally, a growing number of enterprises are providing tailored, differentiated and customized products in response to changes in international market demand. For example, they have developed solar-powered mobiles for areas with limited power supply and launched sand-proof, high-temperature-resistant engines for areas with extensive desert terrain. All these efforts have received praise and positive feedback from overseas customers.

Overall, China's exports achieved steady growth in the first half of the year. Backed by a complete industrial system and powered by the deep integration of technological and industrial innovation, we have essentially continued to meet international market demand with high-quality supply. I believe that in the next stage, China's exports will continue to forge ahead despite any challenges. As we always say, after the storm comes the rainbow.

Thank you.