China's international trade increases by 5% in 2024
China's foreign trade experiences a growth of 5% in 2024.
TroibNews 
China's total foreign trade saw a 5 percent year-on-year increase in 2024, achieving a record high of 43.85 trillion yuan, as reported by official data released on Monday.
Exports rose by 7.1 percent year-on-year, reaching 25.45 trillion yuan and surpassing the 25 trillion yuan threshold for the first time, marking eight consecutive years of growth. In contrast, imports experienced a more modest rise of 2.3 percent from the previous year, totaling 18.39 trillion yuan, according to data from the General Administration of Customs.
During a government press conference in Beijing on Monday, GAC deputy head Wang Lingjun stated that China's foreign trade growth in 2024 was relatively robust compared to other major global economies.
"China has become a major trading partner of more than 150 countries and regions, and the country's circle of friends in foreign trade is getting larger," Wang noted.
He also highlighted that the composition of imports and exports had been continually refined and upgraded over the past year, with significant growth in high-tech product categories and a notable rise in emerging trade formats like cross-border e-commerce.
Wang emphasized that the foreign trade accomplishments of the previous year were hard-won, attributing them to a series of timely incremental policies introduced by central authorities, along with measures aimed at stabilizing foreign trade.
He mentioned that customs authorities rolled out 16 initiatives to enhance the port business environment and streamline the customs clearance process for enterprises.
Furthermore, he indicated that targeted efforts to facilitate cross-border trade were implemented in 20 cities, aimed at establishing a market-oriented, law-based, and internationalized top-tier port business environment.
Sophie Wagner for TROIB News
Exports rose by 7.1 percent year-on-year, reaching 25.45 trillion yuan and surpassing the 25 trillion yuan threshold for the first time, marking eight consecutive years of growth. In contrast, imports experienced a more modest rise of 2.3 percent from the previous year, totaling 18.39 trillion yuan, according to data from the General Administration of Customs.
During a government press conference in Beijing on Monday, GAC deputy head Wang Lingjun stated that China's foreign trade growth in 2024 was relatively robust compared to other major global economies.
"China has become a major trading partner of more than 150 countries and regions, and the country's circle of friends in foreign trade is getting larger," Wang noted.
He also highlighted that the composition of imports and exports had been continually refined and upgraded over the past year, with significant growth in high-tech product categories and a notable rise in emerging trade formats like cross-border e-commerce.
Wang emphasized that the foreign trade accomplishments of the previous year were hard-won, attributing them to a series of timely incremental policies introduced by central authorities, along with measures aimed at stabilizing foreign trade.
He mentioned that customs authorities rolled out 16 initiatives to enhance the port business environment and streamline the customs clearance process for enterprises.
Furthermore, he indicated that targeted efforts to facilitate cross-border trade were implemented in 20 cities, aimed at establishing a market-oriented, law-based, and internationalized top-tier port business environment.
Sophie Wagner for TROIB News
