A steady start! China's import and export of goods in Q1 this year reached 10.3 trillion yuan, an increase of 1.3%.

At 10:00 AM on April 14, the State Council Information Office held a press conference to announce the import and export situation for Q1 this year. According to customs statistics, China's total import and export of goods in Q1 reached 10.3 trillion yuan, an increase of 1.3%. Among them, exports amounted to 6.13 trillion yuan, up 6.9%, while imports stood at 4.17 trillion yuan, down 6%. The growth rate of imports and exports rebounded month by month, with a decline of 2.2% in January, a basically flat performance in February, and a growth of 6% in March. Faced with increasing external challenges, various regions, departments, and foreign trade entities actively responded, driving a stable start to China's foreign trade in Q1.

On the export side, China's export scale exceeded 6 trillion yuan in Q1, achieving a rapid growth of 6.9%, demonstrating strong resilience under pressure. Exports to over 170 countries and regions saw growth. The transformation of Chinese manufacturing towards high-end, intelligent, and green development gained strong momentum. Exports of ships and marine engineering equipment, as well as specialized equipment, increased by 10.8% and 16.2%, respectively. New energy products continued to play a significant role in the global green transition, with exports of wind turbines, lithium batteries, and EVs growing by 43.2%, 18.8%, and 8.2%, respectively.

On the import side, rapid growth in domestic industrial production in Q1 drove an increase in imports of parts and equipment. Among them, imports of automatic data processing equipment parts and ships and marine engineering equipment rose by 95.6% and 52.5%, respectively. The consumer market remained stable and positive, with increased imports of some essential goods. Imports of edible oil grew by 12.1%, while imports of fresh and dried fruits increased by 8.3%.

In Q1, China's private enterprises achieved import and export volumes of 5.85 trillion yuan, up 5.8%, with their share rising to 56.8%. While foreign trade scale achieved rapid growth, development quality also continuously improved. Private enterprises saw growth in imports and exports with nearly 180 countries and regions worldwide. Imports and exports with emerging markets such as ASEAN, Africa, and Latin America increased by 7.4%, 9.6%, and 5.2%, respectively, while those with traditional markets like the EU and Japan grew by 7.1% and 4.8%, respectively. Imports and exports of high-tech products by private enterprises hit a record high for the same period, approaching 1 trillion yuan, maintaining their position as the largest import and export entity. Among them, exports of industrial robots increased by 67.4%, and high-end machine tools grew by 16.4%, while imports of high-end equipment rose by 25.6%, and surgical robots increased by 47.5%.

Data shows that over the past five years, foreign-invested enterprises accounted for about one-third of China's total foreign trade. In Q1, over 67,000 foreign-invested enterprises with actual import and export activities reached a three-year high for the same period, with import and export volumes of 2.99 trillion yuan, up 0.4%, marking four consecutive quarters of growth.

In Q1, China's imports and exports with the EU reached 1.3 trillion yuan, up 1.4%. The high complementarity and intertwined interests of the Chinese and European economies drove sustained positive development in bilateral trade. ASEAN remained China's largest trading partner, with import and export volumes of 1.71 trillion yuan, up 7.1%, accounting for 16.6% of China's total foreign trade. The economic and trade relations between China and ASEAN have become increasingly close, with trade complementarity continuously strengthening.

In Q1, China's imports and exports with countries participating in the "Belt and Road" initiative reached 5.26 trillion yuan, up 2.2%, setting a new record for the same period and accounting for 51.1% of China's total foreign trade.