Read in Chinese
Speakers:
Mr. Wang Lingjun, vice minister of the General Administration of Customs of China (GACC)
Mr. Lyu Daliang, spokesperson of the GACC and director general of the Department of Statistics and Analysis of the GACC
Chairperson:
Ms. Shou Xiaoli, director general of the Press Bureau of the State Council Information Office (SCIO) and spokesperson of the SCIO
Date:
Oct. 14, 2024
Shou Xiaoli:
Ladies and gentlemen, good afternoon. Welcome to this press conference held by the State Council Information Office (SCIO). This is a regular briefing on China's economic data. Today, we have invited Mr. Wang Lingjun, vice minister of the General Administration of Customs of China (GACC), to brief you on China's import and export data for the first three quarters of 2024 and to take your questions. Also attending today's press conference is Mr. Lyu Daliang, spokesperson for the GACC and director general of the Department of Statistics and Analysis of the GACC.
Now, let's give the floor to Mr. Wang for his briefing.
Wang Lingjun:
Friends from the media, good afternoon. Welcome to this afternoon's press conference. First, I will brief you on the import and export situation for the first three quarters. Afterwards, my colleague Lyu Daliang and I will answer any questions you may have.
Since the beginning of this year, under the strong leadership of the Communist Party of China (CPC) Central Committee with Comrade Xi Jinping at its core, China has achieved overall economic stability while also ensuring steady progress. New quality productive forces have been rapidly forming, high-quality development has been deeply advanced and imports and exports with goods have been steadily increasing, thus continuing the foreign trade structure's optimization. It can be said that both quantity and quality have improved. According to customs statistics, in the first three quarters, China's imports and exports amounted to 32.33 trillion yuan, a year-on-year increase of 5.3%, including exports of 18.62 trillion yuan, up by 6.2%, and imports of 13.71 trillion yuan, up by 4.1%. The main characteristics are as follows:
First, the total value of imports and exports has reached a new high, with each quarter exceeding 10 trillion yuan. For the first time in history, the total for the first three quarters surpassed 32 trillion yuan, with imports and exports for each quarter amounting to 10.15 trillion, 11 trillion and 11.17 trillion yuan, respectively. Each quarter indeed exceeded 10 trillion yuan and the three quarters together surpassed 32 trillion yuan, marking a historic first for the same period.
Second, various types of business entities have remained active, with private enterprises achieving relatively rapid growth. In the first three quarters, China's private enterprises recorded imports and exports totaling 17.78 trillion yuan, an increase of 9.4% and accounting for 55% of the total foreign trade value, which was up by 2.1 percentage points. Foreign-invested enterprises saw imports and exports of 9.53 trillion yuan, growing by 1.1% and marking growth for two consecutive quarters. State-owned enterprises saw imports and exports of 4.9 trillion yuan, with a growth of 0.1%.
Third, market diversification has steadily progressed, and trade with more than 160 countries and regions around the world has achieved growth. Imports and exports with partner countries involved in the Belt and Road Initiative (BRI) totaled 15.21 trillion yuan, which was up by 6.3%, increasing their share to 47.1%. Trade with fellow Regional Comprehensive Economic Partnership (RCEP) member countries reached 9.63 trillion yuan, growing by 4.5% and including 5.09 trillion yuan in imports and exports with ASEAN, up by 9.4%. During the same period, imports and exports with the European Union and the United States amounted to 4.18 trillion yuan and 3.59 trillion yuan, respectively, increasing by 0.9% and 4.2%.
Fourth, the structure for exporting products has been optimized, with the exporting of high-end equipment increasing by more than 40%. In the first three quarters, China's exports of mechanical and electrical products amounted to 11.03 trillion yuan, an increase of 8%, and accounted for 59.3% of the total export value. Among these, high-end equipment exports grew by 43.4%, with integrated circuits, automobiles and household appliances experiencing export increases of 22%, 22.5% and 15.5%, respectively. Additionally, exports of traditional labor-intensive products totaled 3.13 trillion yuan, up by 2.8%.
Fifth, the abundance and variety of imported products have improved, with a stable rise in the volume of bulk commodity imports. In the first three quarters, China's import volume of bulk commodities increased by 5%. Among these, energy products such as crude oil, natural gas and coal totaled 901 million tons, up by 4.8%; metal ores such as iron and aluminum amounted to 1.138 billion tons, increasing by 4.9%. During the same period, the import values for integrated circuits and automobile parts grew by 13.5% and 4.6%, respectively. Imports of consumer goods exceeded 1.3 trillion yuan.
Overall, in the first three quarters, China's foreign trade operated generally stable, with both exports and imports achieving growth. The current domestic and international environments are increasingly complex and China's foreign trade development faces certain challenges. These primarily include intensified global trade protectionism, weak growth momentum in major markets, heavy debt burdens and an increase in uncertain and unstable factors. However, it is also important to recognize that China's economic fundamentals, along with its broad market, strong resilience and great potential, have remained unchanged. The continued implementation of existing policies and the introduction of incremental policies are gaining momentum, while the positive factors for foreign trade development are accumulating and increasing. Thus, there is a solid foundation and support for steady growth with imports and exports in the fourth quarter.
The GACC will adhere to the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, focusing on the decisions and arrangements made at the third plenary session of the 20th CPC Central Committee. With the aim to promote Smart Customs and thereby strengthen our country, we will further deepen comprehensive reforms in customs, continuously innovate the regulatory service system, optimize the business environment at ports and promote the facilitation of cross-border trade. In response to new situations and challenges in current foreign trade operations, we will follow the decisions and arrangements made at the meeting of the Political Bureau of the CPC Central Committee on Sept. 26, adhere to a problem-oriented approach, focus on key issues, take proactive initiatives, effectively implement existing policies, intensify the introduction of incremental policies, further enhance the pertinence and effectiveness of policy measures, stabilize the volume and improve the quality of foreign trade and contribute to completing the annual goals for socioeconomic development. Thank you.
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Shou Xiaoli:
Thank you, Mr. Wang, for your introduction. We will now open the floor for questions.
CCTV News:
According to recently released customs statistics, China's imports and exports maintained stable growth in the first three quarters of this year. What are the main factors driving this growth? Additionally, could you analyze and interpret the expected trends in China's foreign trade for the fourth quarter? Thank you.
Wang Lingjun:
Thank you for your question. Since the beginning of this year, China's imports and exports have maintained stable growth due to both supply and demand factors.
On the demand side, internationally, the World Trade Organization's latest report has raised its forecast for annual global merchandise trade volume growth. Institutions such as the World Bank and the Organization for Economic Cooperation and Development believe the global economy is stabilizing, and recovering external demand has created favorable conditions for China's exports. In the first three quarters, China's exports to traditional markets — Europe, the U.S. and Japan — grew by 4.2%, while exports to emerging markets like ASEAN and Latin America increased by 12.3% and 13.7%, respectively. Domestically, China's industrial production has grown steadily since the start of this year, driving increases in imports of coal (11.9%), natural gas (13%) and iron ore (4.9%) in the first three quarters. With the cyclical upturn in consumer electronics, imports of semiconductor manufacturing equipment, integrated circuits and flat-panel display modules all achieved double-digit growth. The consumer market has maintained steady growth, with imports of specialty fruits, wine and clothing rising by 7.1%, 28.9% and 6.1%, respectively, effectively meeting diverse domestic consumer demands.
On the supply side, China is accelerating the development of new quality productive forces, with manufacturing trending notably toward higher-end, smarter and greener production. Innovation has made Chinese manufacturing increasingly attractive globally. Regarding high-end development, Chinese manufacturing has demonstrated solid capabilities. For instance, we recently exported the world's largest floating oil-gas production, storage and offloading platform, priced above 10 billion yuan, with a displacement equivalent to five aircraft carriers — representing the pinnacle of global marine engineering. In terms of smart manufacturing, products like all-in-one robotic vacuum cleaners and automatic coffee machines capable of brewing more than a dozen flavors have gained popularity with overseas customers. Home appliance exports increased by 15.5% in the first three quarters. On the environmental front, China's new energy industry has effectively aligned with global green development trends, with exports of wind turbine generator systems and electric vehicles rising by 73.9% and 22%, respectively.
Regarding future trends, with three months remaining in the year, the external environment has grown increasingly complex and challenging. The latest International Monetary Fund report indicates that global economic growth rates have fallen below the average levels seen in the first two decades of this century. Major economies are struggling to maintain sustained growth momentum, with both the Federal Reserve and European Central Bank lowering their respective economic growth forecasts by 0.1 percentage point in September. Additionally, some countries have increasingly imposed trade restrictions on Chinese products. Recent fluctuations in key domestic economic indicators — including industrial output, investment and consumption — have added pressure to foreign trade development. However, the fundamentals of China's economic development remain solid, with favorable conditions such as vast market potential and strong economic resilience continuing unchanged. Moreover, you may have noticed that various departments and regions are actively implementing decisions and arrangements made at the CPC Central Committee Political Bureau meetings. They're introducing a new package of incremental policies to support the healthy development of the real economy and business entities. With these coordinated policy efforts, China's economy is expected to maintain its stable upward trajectory toward higher-quality growth. We have both the necessary conditions and confidence to achieve our annual objectives of steady trade volume growth and quality improvement. Thank you.
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21st Century Business Herald:
How has the recent weakening in international market demand affected China's exports? Could you share details about China's export performance in September? What are the GACC's expectations for export trends in the fourth quarter? Thank you.
Lyu Daliang:
Good afternoon. Thank you for those questions. First, let me brief you on our export performance for September.
In September, China's exports totaled 2.17 trillion yuan, a year-on-year increase of 1.6%. The growth rate has indeed slowed down, and preliminary analysis suggests this is mainly due to some short-term, sporadic factors. First, there's a connection to the extreme weather in September. Two typhoons made landfall in the Yangtze River Delta, and historical data shows that typhoons' impact on exports tends to last for a considerable time. After a typhoon, shipping schedules often get delayed, leading to a lag in exports. Second, recent issues like global shipping disruptions, a container shortage, and expectations regarding contract negotiations for dockworkers on the U.S. East Coast have caused companies to adjust their shipping and logistics rhythms. According to data, the peak season for export of certain products, which usually came in the third quarter in previous years, was more than a month earlier this year. Additionally, the export scale in September of last year was relatively high, the second highest of the year, only second to December. This high base also constrained the year-on-year growth rate for September this year. Overall, the September slowdown in export growth is considered a typical short-term data fluctuation.
Looking at the overall trend for the first three quarters, exports in September marked the sixth consecutive month of growth. Cumulative exports reached 18.62 trillion yuan, setting a historical high for the same period, with a year-on-year increase of 6.2%. This growth rate is 0.5 percentage point higher than the average for the same period over the past decade. Preliminary estimates based on the latest data published by various economies indicate that China's overall export share in the global market is steadily rising. Key export products, from furniture and home appliances to ships and containers, have all seen varying degrees of increased global market share, showcasing China's strong resilience in exports.
Currently, China is accelerating the construction of a modern industrial system and developing new quality productive forces tailored to local conditions. The country maintains a solid advantage with a strong manufacturing base, a complete range of industries, and a large-scale industrial system, which continues to consolidate its position in the global industrial and supply chain landscape. Recent surveys of over 800 major export enterprises across the country show that 69% of them anticipate stable or growing exports in the fourth quarter. Overall, we maintain a positive outlook for exports in the fourth quarter. Thank you.
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Kyodo News:
China shows a trend of excessive trade surplus again, raising concerns in some countries. What are the reasons for such excessive surpluses? Any comment on the concerns of these countries? Thank you.
Wang Lingjun:
Thank you for your questions. China never intentionally pursues a trade surplus. The recent growth in our goods trade surplus results from the improved competitiveness of Chinese industries, resilient exports, and lower import values due to declining global commodity prices. Our perspective on trade surpluses is as follows:
First, when evaluating a trade surplus, it's important to consider not only the absolute scale but also the relative proportion of the surplus to GDP. Vertically, our current ratio is below China's historical peak. Horizontally, it's also lower than that of some major global economies.
Second, evaluating a country's trade balance requires examining both the goods and services trade, as well as trade statistics and international balance of payments data. According to the latest balance of payments data from the State Administration of Foreign Exchange, our current account surplus is 1.1% of GDP, remaining within a reasonable and balanced range.
Additionally, I'd like to point out that it's perplexing how some countries criticize China's trade surplus while simultaneously imposing stricter regulatory measures to limit their exports to us. Thank you!
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National Business Daily:
This year, the BRICS cooperation mechanism expanded for the first time, with the number of BRICS member countries increasing to 10. Could you please introduce China's import and export situation with its BRICS partners and the main achievements of the BRICS cooperation mechanism? Thank you.
Wang Lingjun:
Thank you for your question. The BRICS cooperation mechanism is an important platform for emerging market countries and developing nations to strengthen solidarity and cooperation and safeguard common interests. On Jan. 1 this year, five new partners joined the BRICS family. Following this expansion, BRICS countries now account for over one-fifth of the global trade, significantly boosting their international influence. In the first three quarters of this year, China's imports and exports with other BRICS countries reached 4.62 trillion yuan, growing by 5.1%. Embracing the BRICS spirit of openness, inclusiveness and win-win cooperation, trade within the BRICS family continues to achieve new and positive outcomes.
In the industrial sector, China and other BRICS countries have fully leveraged their comparative advantages in intermediate goods, complementing each other in basic industries such as steel, chemicals and textiles. In the first three quarters, China's exports of steel products and textile materials to other BRICS countries increased by 8.6% and 13.4%, respectively. China's imports of metal ores and methanol from other BRICS countries rose by 14.4% and 34.3%, respectively. Simultaneously, China's robust manufacturing system and technological strengths have contributed to the development of emerging industries in other BRICS countries. During this period, China saw double-digit growths in exports of various intermediate goods to other BRICS members, such as integrated circuits, panel display modules, and aircraft components.
In agriculture, China and other BRICS countries have met each other's diverse needs with competitive products. BRICS nations supplied over 80% of China's imported poultry meat and frozen cod, as well as more than half of its imported crabs. Meanwhile, China's exports of garlic, tomatoes, citrus and other fruits and vegetables have been well received in BRICS markets, with their exports all growing by more than 20% in the first three quarters. China and other BRICS countries have also seen frequent trade in agricultural machinery and materials. In the first three quarters, China's exports of combine harvesters, insecticides and herbicides to other BRICS members all increased by over 20%, supporting local agricultural production and development. More than one-third of China's imported potassium chloride fertilizer came from other BRICS countries, playing a positive role in promoting domestic agricultural production.
Moreover, bilateral trade has served as a platform and conduit for cooperation and exchange in other sectors. China saw rapid growth in both its exports of traditional Chinese medicine to other BRICS countries and its imports of coffee and cocoa products from them in the first three quarters, helping to promote multicultural exchanges.
This year marks the first year of BRICS expansion, with the first post-expansion summit set to take place soon. Looking ahead, as the scope of greater BRICS cooperation broadens and deepens, China's economic and trade collaboration with other BRICS countries will continue to make steady and solid progress. Thank you.
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ThePaper.cn:
Data shows that China's import growth has slowed in recent months. Does this reflect weak domestic demand? Can you provide details on September's import performance? What are your expectations for import trends for the full year? Thank you.
Lyu Daliang:
Thank you for your questions. As Mr. Wang just mentioned, China's imports totaled 13.71 trillion yuan in the first three quarters, a 4.1% year-on-year increase, reaching a historic high for the same period. While the monthly year-on-year growth rates fluctuated this year, import volumes rose quarter by quarter, with each quarter showing positive year-on-year growth. Additionally, China's import sources have remained diverse and stable, with imports from over 140 countries and regions across six continents experiencing growth. Specifically, imports from Europe and the U.S. increased by 1.2% and 2.7%, respectively, while imports from ASEAN, Latin America and Africa grew by 5.4%, 5.3% and 10.3%, respectively.
As for imports in September, looking solely at the numbers, the year-on-year growth rate in yuan terms slowed, influenced by factors such as import prices and exchange rate fluctuations. However, in terms of scale, the volume of imports has expanded month on month since July, with September marking the highest point this year — a 2% increase from August. In terms of quantity, September imports grew by 0.7% year on year. Notably, coal, natural gas, and integrated circuits all saw double-digit growths, increasing by 13%, 19%, and 17%, respectively. This reflects a sustained recovery in domestic demand. Moreover, when measured in U.S. dollars, imports showed a slight uptick in September.
China has steadfastly advanced high-level opening up and proactively expanded imports. The third plenary session of the 20th CPC Central Committee emphasized that "we will seize the initiative by opening China's commodity, services, capital, and labor markets wider to the outside world in an orderly manner and unilaterally opening our doors wider to the world's least developed countries." At the 2024 Summit of the Forum on China-Africa Cooperation held in Beijing on Sept. 5, President Xi Jinping announced that China had decided to give all least developed countries (LDCs) with diplomatic ties to China zero-tariff treatment on all tariff lines, making China the first developing country and major economy in the world to implement this initiative. In the first three quarters of this year, China's imports from LDCs increased by 14%. As this decision is materialized, China's imports from these nations will continue to expand. Next month, the 7th China International Import Expo (CIIE) will be held in Shanghai. The growing success of the CIIE continues to demonstrate China's commitment to greater opening up while providing more countries with opportunities to benefit from China's vast market. Thank you.
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Bloomberg:
Two questions on tariffs. The first one is you've seen increased amounts of countries putting tariffs on the "new three," of solar panels, batteries and EVs — such as Türkiye's EV tariffs in June. What impacts are those measures having on those industries? And secondly, does China worry that increased steel exports will further inflame trade tensions? Thank you.
Lyu Daliang:
Thank you for your questions. You mentioned two topics: the "new trio" (electric vehicles, lithium-ion batteries and photovoltaic products) and steel. Let me first address your question about the "new trio." I will start by sharing some details about the export situation of the "new trio."
In the first three quarters, China exported 757.83 billion yuan worth of electric vehicles, lithium-ion batteries and photovoltaic products, accounting for 4.1% of China's total exports. The "new trio" are exported to more than 200 countries and regions, and are popular globally.
We believe that the global new energy industry is still currently in a phase of rapid development. China's exports of the "new trio" and other green, low-carbon products have not only enriched global supply and alleviated global inflationary pressures, but also made a significant contribution to addressing climate change and promoting green transformation worldwide. Indeed, some countries have imposed tariffs on China's "new trio," but we consider this to be an unfair and unreasonable form of trade protectionism that violates international trade rules, that will ultimately hinder the global green and low-carbon transformation. Some American scholars have even called the tariffs on China's green technology products a "foolish mistake." We hope that relevant countries will abandon these wrong practices, seek their own justified interests through common development, and open up new sources of growth for the global economy while jointly addressing the global challenge of climate change.
As for steel exports, I will also provide some data. In the first three quarters, China exported 441.94 billion yuan worth of steel, down by 3% year on year. I also want to clarify that most of the steel produced in China is for domestic consumption and use, including further processing, mainly to meet the demand of the domestic market.
Here, I'd like to share that although the steel industry is a traditional one, in the context of China's accelerated development of new quality productive forces, the steel industry is constantly innovating and upgrading. A few days ago, I visited a steel plant in Taiyuan where they developed stainless steel foil with a thickness of just 0.015 millimeters — about one-quarter the thickness of a sheet of A4 paper — also known as the hotly discussed "hand-torn steel" online. This type of steel is widely used in precision manufacturing industries, and the company reports good order volumes. There are many such steel enterprises in China, and I believe that such innovative steel products will have a broad market both domestically and internationally. Thank you.
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China News Service:
In August, the Political Bureau of the CPC Central Committee reviewed the "Policies and Measures to Open Up a New Vista in the Large-scale Development of China's Western Region." Could you please share the foreign trade situation in the western region during the first three quarters of this year? Thank you.
Lyu Daliang:
Thank you for your question. Under the promotion of the coordinated regional development strategy, the western region has adhered to the principle of promoting opening-up through greater openness, and its level of opening-up continues to improve. In the first three quarters of this year, the western region's imports and exports totaled 2.92 trillion yuan, up by 8.9% year on year, showing many positive changes.
First, the growth rate of imports and exports was the highest among all regions. Since the CPC Central Committee made arrangements in 2020 to open up a new vista in the large-scale development of China's western region in the new era, the western region's foreign trade volume has increased significantly, with the annual import and export value surpassing 3 trillion yuan and moving toward 4 trillion yuan, with an average annual growth rate of 8.5%. In the first three quarters of this year, the growth rate of the western region's foreign trade was 3.6 percentage points higher than the national average, and its share of the national import and export total increased to 9%.
Second, the foreign trade industry continued to improve in terms of quality and sophistication. In the first three quarters, the western region exported 1.18 trillion yuan worth of mechanical and electrical products, up by 13.3% year on year, and higher than the national growth rate for similar products. Among them, exports of computers and their components, as well as integrated circuits, grew by 6.7% and 27.2%, respectively, accounting for 30% and 22.7% of the national export value of these products. The western region's exports of the "new trio" grew by 7.9%, and exports of specialized high-tech equipment increased by 32.6%.
Third, business entities have shown strong vitality. In the first three quarters, 36,000 foreign trade enterprises in the western region registered concrete activities in import and export, an increase of 14.6%. Among them, private enterprises performed particularly well, with imports and exports reaching 1.61 trillion yuan, a growth of 12.8% and accounting for 55.4% of the total import and export value in the western region during the same period. Meanwhile, foreign-invested enterprises in the western region saw their imports and exports grow by 9%, a growth rate that also leads other regions.
Fourth, the construction of a new trade corridor is creating a high-speed route for foreign trade. The construction of the New International Land-Sea Trade Corridor has promoted the development and opening-up of regions along its route. In the first three quarters, the western region achieved 513.79 billion yuan in imports and exports through the new corridor, a growth of 15%. This new corridor that crosses mountains and seas is not only a convenient and efficient logistics artery, but also is a vibrant economic and trade corridor.
In August of this year, the Political Bureau of the Party Central Committee deliberated the Policy Measures to Further Open up a New Vista in the Large-scale Development of the Western Region, which has provided direction and set clear requirements for the next steps. The customs authorities will conscientiously implement relevant work arrangements of the Party Central Committee and the State Council, fully support the construction of the New International Land-Sea Trade Corridor, further promote the development of characteristic and advantageous industries in the western region and advance the construction of open platforms, continuously driving high-quality development and high-level opening-up of the western region. Thank you!
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Cover News:
In the recent two years, private enterprises in China have seen rapid growth with their imports and exports. Could you elaborate on the characteristics and highlights of private enterprises' imports and exports in the first three quarters of this year? How will customs help private enterprises with participating in international competition in the future? Thank you.
Wang Lingjun:
Thank you for your questions. The Party Central Committee always unswervingly consolidates and develops the public sector, and unswervingly encourages, supports and guides the development of the non-public sector. The Party Central Committee always maintains that the non-public sector's status and functions in the country's economic and social development have not changed, the principle and policies to unswervingly encourage, support and guide the development of the sector have not changed, and the principle and policies to provide a sound environment and more opportunities to the sector have not changed. These commitments have created a favorable environment for the development of private enterprises and promoted the sustainable and healthy development of the private economy. In the first three quarters, China's private enterprises achieved 17.78 trillion yuan in imports and exports, a growth of 9.4%, which is 4.1 percentage points higher than the national rate, contributing 93.8% to the overall growth of foreign trade. The flexible and adaptable operating characteristics of private enterprises, along with their growing strength in foreign trade, continue to inject new vitality into the development of foreign trade. Here, I would like to share three impressions of private enterprises:
First, they are bold and determined. Private enterprises are a strong force in expanding markets and securing orders, playing an important role in promoting market diversification. In the first three quarters, private enterprises' imports and exports to ASEAN, Africa and Latin America grew by 12%, 6.4% and 13.9%, respectively, with their shares in China's trade with these regions rising to 62%, 61.1% and 54.2%, respectively.
Second, they are innovative. Since the beginning of this year, private enterprises have accelerated equipment upgrades, constantly positioning themselves for innovation. In the first three quarters, private enterprises imported 203.82 billion yuan worth of various production equipment, a growth of 31%, accounting for 51.6% of China's imports for similar products. Among these, semiconductor manufacturing equipment and high-end machine tools accounted for 67.9% and 43.7% of China's imports of such products, respectively. This momentum of innovation has also translated into export power, with private enterprises' exports of high-tech products growing by 14% in the first three quarters, making up 52.7% of China's high-tech product exports, a 4.4 percentage point increase. Exports of ships and marine engineering equipment, aerospace equipment and electronic information products grew by 94%, 37.2% and 17.5%, respectively.
Third, they have always strived to do better. In recent years, private enterprises have gradually evolved from "producers" to "brand owners." In the first three quarters, private enterprises' exports of solar cells, lithium batteries and textile machinery consisted of 83.4%, 71.7% and 57.6% of their own brands, respectively. While focusing on brand building, private enterprises have also been committed to integrity. In the first three quarters, 2,411 private enterprises obtained AEO certification, the highest form of customs certification. With this "golden business card," private enterprises are set to reach even broader stages within foreign trade development.
The Party Central Committee and the State Council have always been committed to creating a favorable environment and providing more opportunities for the development of the private economy. Last week, a draft law on the promotion of the private economy was opened for public comment. We are closely monitoring changes in the situation, visiting enterprises to deliver policies, listening to feedbacks and solving problems. We are also studying and preparing a new round of practical and effective policy measures to be introduced at an appropriate time. Through improved regulatory efficiency and service standards, we will help enterprises stabilize expectations, expand markets and boost confidence. Thank you!
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China Financial and Economic News:
My question concerns the China International Import Expo (CIIE). We know that the 7th CIIE will be held in Shanghai from Nov. 5-10. Could you please explain what measures the GACC has implemented to ensure the expo's success? Thank you.
Lyu Daliang:
Thank you for your question. At this time each year, significant attention is focused on the CIIE. Three weeks ago, the first exhibit of this year's expo — an electric concept tricycle — successfully cleared customs at Shanghai port, marking customs' entry into the "final preparation phase." To date, customs offices nationwide have completed clearance procedures for 18 batches of exhibits, making the process more streamlined and efficient.
In fact, customs began its CIIE preparations as early as April this year. We have analyzed our experience from supporting previous expos and developed a more comprehensive work plan for the 7th CIIE. Building upon our existing 17 facilitation measures, we've introduced new initiatives. For animal- and plant-derived food products, we've waived the requirement for sanitary or animal and plant quarantine certificates, provided that animal and plant disease transmission risks have been eliminated. This change enables a broader range and greater variety of exhibits. We're also providing end-to-end guidance and customized services for participating enterprises, and we've enhanced our "Smart CIIE" system to create a more efficient, convenient and rapid supervision process for incoming exhibits.
The CIIE is held annually, yet this year's expo features an array of cutting-edge technologies and first-time exhibits that keep the event fresh. These include photocatalytic coatings representing the forefront of material science, smart road-marking paints, non-pneumatic tires for lunar rovers designed for extreme conditions, and direct air capture technology for green emission reductions. These innovations will further enhance the expo's reputation for product debuts. Moreover, the CIIE is not only a "feast for the eyes" but also a "golden gateway" to China's vast market. A standout exhibit, the 150-kilogram Maltese bluefin tuna, represents the first batch approved for import to China and will soon enter the Chinese market with customs support.
Next, customs will continue to align with the needs of the expo, maintaining a firm commitment to safety while ensuring high-level, high-standard, and high-quality support for all customs-related tasks. We aim to facilitate the participation of both new and returning friends from around the world in the CIIE, allowing them to share in the opportunities that China presents. Thank you!
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Nanfang Daily, Nafang Plus:
In recent years, ASEAN has consistently maintained its position as China's largest trading partner. Could you please share information about the trade performance between China and ASEAN since the beginning of this year? Thank you.
Wang Lingjun:
Thank you for your question. In the first three quarters of this year, China's trade with ASEAN reached 5.09 trillion yuan, growing by 9.4%, which is 4.1 percentage points higher than the national growth rate. Of this total, exports amounted to 3.02 trillion yuan, up 12.3%, while imports reached 2.07 trillion yuan, increasing by 5.4%. The continued positive development of China-ASEAN trade can be attributed to several key factors:
First, the large markets on both sides provide strong support for bilateral trade development. The practical cooperation between China and ASEAN continues to deepen, and they have been each other's largest trading partners for four consecutive years. Last week, at the 27th China-ASEAN Summit, Chinese Premier Li Qiang emphasized that "strengthening market connectivity is an important direction for further cooperation. "Looking ahead, the signing and implementation of the Version 3.0 China-ASEAN Free Trade Agreement will provide stronger momentum for jointly building an enormous market.
Second, multi-dimensional connectivity makes trade exchanges more convenient and efficient. Land ports are bustling with activity; in the first three quarters, imports and exports through Friendship Pass — the largest land port between China and Vietnam — reached 336.34 billion yuan, up 15.6%. As smart port construction advances between China and Vietnam, more digital and intelligent technologies will accelerate bilateral trade. Railway channels continue to show strong performance, with cargo volume through the China-Laos Railway reaching 3.766 million metric tons, a 15% increase, while the trade value grew by 50.7%. Waterway routes are expanding, with Beibu Gulf Port now operating 35 routes to ASEAN countries, with its ASEAN trade volume up 12.8%.
Furthermore, deepening cooperation within the industrial chain has led to rapid growth in the import and export of intermediate goods. China has established close cooperation with ASEAN countries in sectors such as electronics, automobile manufacturing, and textiles and apparel, leading to continuous expansion of intermediate goods trade. In the first three quarters, China's import and export of intermediate goods with ASEAN reached 3.23 trillion yuan, representing nearly 60% of the total trade volume of 5.09 trillion yuan, marking a 9% increase. Specifically, the import and export of electronic intermediate goods, such as computer peripherals, flat-panel display modules and integrated circuits grew by 63.9%, 22.2% and 13%, respectively.
Lastly, complementary advantages in consumer goods provide a wider choice of specialty agricultural products. In the first three quarters, China imported agricultural products worth 184.83 billion yuan from ASEAN, making it the second largest source of agricultural imports for China. Newly added items this year, such as fresh durians from Malaysia, aquatic products from Brunei and coconuts from Vietnam, further enriched domestic consumption choices. Meanwhile, ASEAN stands as the largest export market for Chinese agricultural products, with Chinese fruits like oranges and pears, as well as vegetables like garlic and onions, being well-received in ASEAN markets. China's exports of dried and fresh fruits and vegetables to ASEAN grew by 18.4% and 15.5% respectively in the first three quarters. Thank you.
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Shou Xiaoli:
Due to time constraints, we only have time for two final questions.
Haibao News:
Through your introduction just now, we learned that China's foreign trade with countries of the Belt and Road Initiative (BRI) in the first three quarters has maintained a positive momentum. What highlights have emerged during this period? And what efforts has China Customs made in promoting the BRI? Thank you.
Lyu Daliang:
Thank you for your questions. With the solid advancement of high-quality Belt and Road cooperation, China and its partner countries share opportunities and develop together. A series of landmark projects and "small yet exquisite" livelihood projects are contributing to the development of relevant countries, bringing convenience to local people. In the first three quarters of this year, China's imports and exports with BRI partner countries reached 15.21 trillion yuan, a year-on-year increase of 6.3%, with growth higher than the overall rate. Among them, exports reached 8.49 trillion yuan, up 7.1%; and imports reached 6.72 trillion yuan, up 5.3%.
In terms of exports, in the first three quarters of this year, China saw a 16.6% increase in the export of small generators to Latin American countries within the BRI. Exports of wind turbines to Africa grew by 130%, while road construction machinery such as bulldozers and road rollers increased by 44.8%. This all contributed to the improvement of infrastructure in partner countries. Furthermore, exports of MRI machines to Southeast Asian countries within the BRI surged by 44%, and vaccine exports to Africa by 30%, aiding in the improvement of public health standards. Exports of passenger cars and motorcycles to Eastern European countries within the BRI increased by 34.6% and 37.9%, respectively, facilitating local transportation and meeting people's demands for better lives.
In terms of imports, during the same period, China saw imports of central processing components from Southeast Asian countries within the BRI grow by over 80%, and imports of automotive parts from Eastern Europe rise by 48.2%. The bilateral industry chain cooperation has been enhanced. At the same time, specialty agricultural products from partner countries have rapidly entered the Chinese market. Imports of kiwis, apples and other dried and fresh fruits and nuts from countries in Oceania within the BRI surged by 28.4%, while imports of soybeans, barley, sorghum and other grains from Latin America increased by 32.5%. These developments not only benefit producers in various countries but also enrich domestic supplies.
Since the beginning of this year, the GACC has been actively implementing the eight major steps to support high-quality Belt and Road cooperation. These efforts have focused on three areas: First, we have intensified our efforts to ensure market access for agri-food products from Belt and Road partner countries, finalizing 66 protocols on agricultural products and food, as well as 11 technical cooperation agreements on animal and plant inspection and quarantine. Second, we have been working hard to facilitate trade and ensure security with Belt and Road partner countries. We have convened multi-level customs clearance coordination mechanism meetings with Vietnam, Russia and Kazakhstan. We have also adjusted and optimized port operating hours, improved border infrastructure, and accelerated construction of "green lanes" for fast customs clearance of agricultural products. These measures have significantly improved connectivity. Third, we have been working hard to promote pragmatic cooperation with relevant departments in Belt and Road partner countries. We signed authorized economic operator (AEO) mutual recognition agreements with Burundi, Morocco, Tanzania and the Democratic Republic of the Congo, and signed "single window" collaboration agreements with Malaysia and Russia. Moreover, we have also reached an agreement with Serbia on mutual administrative assistance in customs matters, which has boosted bilateral economic and trade growth. Thank you.
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Shou Xiaoli:
We will take one last question, please.
Jinan Times App:
Cross-border e-commerce has been a consistent focus of the government's work report for 11 consecutive years, driving significant growth in foreign trade. How has the import and export of cross-border e-commerce performed in the first three quarters of this year? What efforts has the GACC made to promote the healthy development of the cross-border e-commerce? Thank you.
Lyu Daliang:
Thank you for your questions. The import and export data of cross-border e-commerce has been a subject of great interest. According to China's cross-border e-commerce statistical survey system, statistical surveys for cross-border e-commerce sector are conducted twice a year, in the form of semi-annual and annual reports. The statistical survey for the first half of this year has just concluded. I would like to share the data for the first half of the year.
In the first half of the year, China's cross-border e-commerce trade reached 1.25 trillion yuan, an increase of 13% year on year, representing a record high compared with the same period in previous years. It made up 5.9% of China's total import and export value, up 0.4 percentage point from the first half of 2023. Exports increased by 18.7% to around 979.9 billion yuan, while imports dropped by 3.9% to 266.4 billion yuan. In terms of export destination and source of imports, exports to the United States accounted for 34.2%, followed by the United Kingdom at 8.1%, Germany at 6.2% and France at 4.5%. Exports to Asian markets such as Malaysia, Singapore, Thailand, Vietnam and Japan were also very vibrant. Imports from the United States accounted for 16.7%, followed by Australia at 11.3%, and Japan at 10.6%. Germany, France and New Zealand were also major sources of imports.
In terms of commodity structure, apparel, shoes and jewelry were the top export, making up 27.3% of the total. Exports of electronics like cellphones stood at 14.4%, and exports of products like home textiles was 12.4%. When it comes to imports, the share of beauty and personal care products was 28.8%, while fresh food accounted for 25.2%. Geographically speaking, top exporters were Guangdong, Zhejiang, Fujian and Jiangsu provinces, while major importers were Guangdong, Jiangsu, Zhejiang, Shanghai and Beijing.
To supplement the biannual statistical survey on cross-border e-commerce, we conduct preliminary estimates every month to track the latest trade developments. According to the latest preliminary estimates, China's cross-border e-commerce trade reached 1.88 trillion yuan in the first three quarters, representing an 11.5% increase year on year. Exports accounted for 1.48 trillion yuan, up 15.2%, while imports totaled 399.16 billion yuan, down 0.4%.
In recent years, the GACC has been at the forefront of supporting the development of cross-border e-commerce and other new business formats. In June, the GACC and relevant departments jointly released guidelines on expanding cross-border e-commerce exports and advancing the construction of overseas warehouses. Customs authorities nationwide have been committed to implementing relevant policies and measures. We have been promoting the practice of paperless customs declarations for overseas warehouses, strengthening intellectual property rights protection, and deepening the comprehensive reform of cross-border e-commerce. By doing all this, we aim to foster collaboration and joint governance between customs authorities and cross-border e-commerce platforms, so as to promote the high-quality development of cross-border e-commerce. Thank you.
Shou Xiaoli:
Thank you to our speakers, and thank you to all the reporters for your participation. That concludes today's press conference. Goodbye.
Translated and edited by Zhang Rui, Li Xiao, Wang Xingguang, Xu Xiaoxuan, Mi Xingang, Xiang Bin, Yang Chuanli, Chen Xinyan, Gong Yingchun, Liu Sitong, Wang Qian, Wang Wei, Wang Yiming, Yuan Fang, Huang Shan, Li Huiru, David Ball, Rochelle Beiersdorfer, and Jay Birbeck. In case of any discrepancy between the English and Chinese texts, the Chinese version is deemed to prevail.
