China has kicked off 2024 with a robust start in foreign trade, marked by record-breaking car exports to Europe. On Thursday, nearly 4,000 cars departed from the Jiangyin port area of Fuzhou Port in east China’s Fujian Province, the largest single shipment of car exports from this port to date.
“The growing number of car exports reflects the increasing popularity of Chinese automobiles among overseas consumers,” said He Yonghui, head of the port’s ocean shipping agency business.
According to data from the China Association of Automobile Manufacturers (CAAM), China’s auto exports surged 30.5 percent year-on-year to 822,000 units in the first two months of this year. Experts from the CAAM attribute this growth to China’s strong competitiveness in the global market, driven by technological innovation, cost control, and mature industrial chains.
In the broader context of foreign trade, China reported a total trade in goods of 6.61 trillion yuan (about $930.96 billion) from January to February, an 8.7 percent increase year-on-year, according to the General Administration of Customs (GAC). Exports grew 10.3 percent to 3.75 trillion yuan, while imports rose 6.7 percent to 2.86 trillion yuan. Notably, exports of machinery and electronic products accounted for nearly 60 percent of the country’s total exports during this period.
Experts believe that this strong start indicates recovering demand in overseas markets and expect China’s exports to maintain moderate expansion throughout the year. The surge in car exports, in particular, signals growing confidence in the Chinese economy and highlights the global appeal of its automotive industry.
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Robust start of foreign trade signals confidence in China's economy
cgtn.com
