China Leads Global Trade for Seventh Consecutive Year, Fosters High-Quality Development
China has solidified its position as the world’s leading exporter, with its trade in goods ranking first globally for the seventh consecutive year. The nation has become a major trading partner with more than 150 countries and regions, according to the General Administration of Customs.
At a press conference on Tuesday, Zhao Zenglian, deputy chief of the General Administration of Customs, announced that China’s foreign trade in 2023 increased by over 17 trillion yuan (approximately $2.34 trillion) compared to 2012. This represents an average annual growth of 1.6 trillion yuan, and the number of foreign trade enterprises has nearly doubled during this period.
“The continuous expansion of China’s foreign trade not only underscores the resilience of our economy but also highlights our commitment to high-quality development,” Zhao stated.
The structural improvement in China’s foreign trade is evident, with exports of high-tech products increasing by six percent year-on-year in 2023. These products now account for 18.7 percent of the total export value, signaling a shift towards more advanced and value-added exports.
Industry analysts believe that China’s emphasis on innovation and technology is playing a crucial role in driving this growth. The increased export of high-tech goods reflects the country’s efforts to move up the global value chain and strengthen its position in the international market.
As China continues to deepen its trade ties and foster economic partnerships worldwide, the ongoing growth in foreign trade is expected to contribute significantly to global economic stability and development.
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China's foreign trade continues to serve high-quality development
cgtn.com
