The economy has continued to recover and improve, and China’s goods trade has maintained strong resilience under external pressure.

A relevant official from the Ministry of Commerce recently pointed out when interpreting the economic and trade “report card” that since the beginning of this year, China’s foreign trade has steadily advanced in a complex environment. A large number of foreign trade enterprises have adapted to changes and sought innovation. Various policies to assist enterprises have been implemented effectively, and goods trade has achieved a “simultaneous increase in quantity and quality”, demonstrating the unique resilience and vitality of China’s foreign trade.

According to the data released by the General Administration of Customs, in the first five months of this year, the total value of China’s imports and exports of goods trade reached 17.94 trillion yuan, increasing by 2.5% year-on-year, continuing the growth trend. Among them, the import and export volume of private enterprises reached 10.25 trillion yuan, increasing by 7%, accounting for 57.1% of China’s total foreign trade value, an increase of 2.4 percentage points compared with the same period last year.

The Ministry of Commerce stated that in the next stage, in the face of a complex and volatile external environment, it will unswervingly expand high-level opening up and respond to the uncertainties of the external environment with the certainty of high-quality development. Meanwhile, China looks forward to working with more trading partners to jointly address risks and challenges and promote win-win cooperation.

The “novelty content” and “gold content” of foreign trade have been continuously increasing

At present, on the course of high-quality development, China’s foreign trade giant ship is continuing to forge ahead through the waves.

Since the beginning of this year, China has adhered to the general working principle of seeking progress while maintaining stability, fully, accurately and comprehensively implemented the new development philosophy, accelerated the formation of a new development pattern, and steadily promoted high-quality development. All existing and new policies have continued to exert force and take effect. The economic operation has started steadily, the development trend is new and positive, and foreign trade has advanced under pressure, achieving scale growth and quality improvement.

According to customs statistics, in the first five months of 2025, the total value of China’s goods trade imports and exports was 17.94 trillion yuan, increasing by 2.5% year-on-year. In May, the total value of China’s imports and exports of goods trade was 3.81 trillion yuan, increasing by 2.7%.

A relevant official from the Ministry of Commerce said at a regular press conference held recently that judging from the economic and trade “report card” of the first five months, the characteristics of China’s foreign trade are mainly reflected in three aspects: a more diverse “circle of friends”, the accelerated aggregation of “new driving forces”, and the vitality of foreign trade entities.

In the first five months, emerging markets contributed more increments. China’s combined imports and exports with the countries jointly building the Belt and Road Initiative increased by 4.2%. The market grew by 9.1% to ASEAN and 12.4% to Africa, and the diversified market pattern continued to expand.

From the perspective of trading partners, the scale of trade between China and Africa has reached a new high for the same period in history. In the first five months of this year, China’s imports and exports with African countries reached 963.21 billion yuan, accounting for 5.4% of China’s total import and export value.

It is understood that since the establishment of the Forum on China-Africa Cooperation in 2000, China-Africa relations have achieved leapfrog development. The economic and trade cooperation between the two sides has continuously expanded to a higher level, deeper depth and broader fields. China has remained Africa’s largest trading partner for 16 consecutive years, and the trade scale has repeatedly reached new highs. According to the China-Africa Trade Index compiled by the Chinese Customs, since the establishment of the Forum on China-Africa Cooperation in 2000, the index has rapidly risen from the base value of 100 points, breaking through 1,000 points in 2023 and reaching 1,056.53 points in 2024. The significant increase in figures is a vivid reflection of the vigorous development of China-Africa trade.

Meanwhile, the “novelty content” and “gold content” of China’s foreign trade have been continuously increasing, and the competitiveness of high-tech and high value-added products has been enhanced.

Customs data shows that in the first five months, China’s exports of mechanical and electrical products reached 6.4 trillion yuan, up 9.3% year-on-year, accounting for 60% of the country’s total export value. Among them, automatic data processing equipment and its components reached 575.23 billion yuan, increasing by 3.9%. Integrated circuits reached 526.4 billion yuan, increasing by 18.9%. Automobiles reached 351.37 billion yuan, increasing by 6.6%. General machinery increased by 9.5%, electric vehicles by 19%, and ships by 18.9%.

In addition, new forms of foreign trade such as bonded maintenance have given rise to new growth drivers. The Ministry of Commerce stated that it has worked with relevant departments to issue the first batch of bonded maintenance product directories for free trade zones. Regions that meet the conditions can carry out bonded maintenance business for high value-added products such as aircraft and ships. As of May, more than 280 bonded maintenance projects have been implemented across the country.

Continue to strengthen the main force of private foreign trade enterprises

It is worth noting that with the rapid development of China’s private economy and its growing influence globally, private enterprises have become an important force for Chinese enterprises to “go global”.

Customs data shows that in the first five months of this year, the imports and exports of private enterprises increased by 7%, accounting for 57.1% of the total imports and exports, up by 2.4 percentage points compared with the same period last year. Among them, exports reached 6.97 trillion yuan, increasing by 8%, accounting for 65.4% of China’s total export value. Imports reached 3.28 trillion yuan, increasing by 4.9%, accounting for 45.1% of China’s total imports.

The reporter of Changjiang Business Daily noticed that since 2019, private enterprises have surpassed foreign-funded enterprises to become the largest foreign trade business entity in China. The private economy has occupied half of the foreign trade exports and foreign investment for six consecutive years.

From the perspective of foreign trade exports, from 2012 to 2024, the average annual growth rate of the import and export volume of private enterprises in China was 11%, and their proportion in the national total import and export volume increased from around 30% to over 50%. In 2024, the total volume of China’s imports and exports of goods reached 43,846.8 billion yuan, increasing by 5.0% year-on-year. Among them, the import and export volume of private enterprises was 24,332.9 billion yuan, increasing by 8.8% year-on-year, accounting for 55.5% of the total import and export volume. In 2024, there will be nearly 700,000 enterprises with actual import and export performance across the country, setting a new record for the number. Among them, the number of private enterprises with actual import and export performance exceeded 600,000 for the first time, reaching 609,000.

While the scale of foreign trade has achieved relatively rapid growth, the development quality of private enterprises has also been continuously improving. In 2024, the technological content of products imported and exported by private enterprises continued to rise, making them the largest importers and exporters of high-tech products in China for the first time. The import and export of high-tech products increased by 12.6%, and their share of the total value of China’s imports and exports of similar products rose to 48.5%.

This year, in the face of a complex external environment, private enterprises have demonstrated strong adaptability and competitive advantages. They have responded to the “new”, moved towards the “new”, created new products and new advantages, developed new business forms and models, strived to explore new markets and new Spaces, and increased the “new content” of foreign trade.

This year’s Government Work Report emphasizes that efforts should be made to intensify policies to stabilize foreign trade, support enterprises in maintaining orders and expanding markets, optimize financial services such as financing, settlement and foreign exchange, expand the scale and coverage of export credit insurance coverage, and strengthen support for enterprises to participate in and hold exhibitions overseas. At the symposium for private enterprises held at the beginning of the year, high attention was also expressed to the issue of private enterprises going global. In addition, private enterprises have supported the steady progress and quality improvement of foreign trade, and fiscal support policies and funds have also played an irreplaceable and significant role in this process.

At the local level, support is being provided for the growth and expansion of private foreign trade enterprises, and various regions are also making continuous efforts. Recently, Sichuan has launched the “Hundred Leading Enterprises and Thousand Upgrading Enterprises” cultivation program for foreign trade enterprises in 2025, aiming to enhance their market expansion and risk resistance capabilities. Zhejiang has launched the “Global Trade Belt Export Plan” to help more foreign trade enterprises “brand export and global trade”. Shandong has launched the “10,000 Enterprises Going Global, Shandong Trade Globally” international market expansion plan, fully serving enterprises in expanding their markets, increasing orders and stabilizing their market shares.