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China's Foreign Trade Hits Record High in First Half of 2024  On July 12, the General Administration of Customs of China released foreign trade data for the first half of the year 2024, showing that the scale of China's imports and exports reached a new high with continued positive momentum. In the first half of the year, the total value of China's trade imports and exports was 21.17 trillion yuan(USD 2.96 trillion), an increase of 6.1% year-on-year (the same below). Exports were 12.13 trillion yuan (USD 1.69 trillion), up 6.9%; imports were 9.04 trillion yuan(USD 1.26 trillion), up 5.2%; and the trade surplus was 3.09 trillion yuan (USD 0.43 trillion), an increase of 12%. In the first half of the year, ASEAN was China's largest trading partner, with the total trade value between China and ASEAN reaching 3.36 trillion yuan (USD 0.47 trillion), an increase of 10.5%, accounting for 15.9% of the total foreign trade value. The EU was China's second-largest trading partner, with the total trade value between China and the EU at 2.72 trillion yuan (USD 380.8 billion), a decrease of 0.7%, accounting for 12.8%. The United States was China's third-largest trading partner, with the total trade value between China and the United States at 2.29 trillion yuan(USD 320.6 billion), an increase of 2.9%, accounting for 10.8%. As the market grows, many opportunities await, such as the opportunity to become a Mail Boxes Etc. Master Franchisee in China, contact us to know more! #ChinaImportandExport  #InternationalLogistics  #ExportMarket  #Entrepreneurship #Peoplepossible

It's no secret that China's focus on exports is unsustainable, but how long can it last? With exports reaching a 17-month high, momentum is expected to remain strong over the next few months. Tariffs will have a limited impact as China seeks to re-route trade and take advantage of shifting exchange rates. However, it could become unbalanced if global growth slows. China's focus on exports may prevent them from developing a more proactive strategy, making it difficult to adapt when that happens. Improving your relationships with your suppliers will help minimise the disruption to your customers and provide some much-needed stability to the industry. #Geopolitics #Trade #TradeStrategy

China's foreign trade volume rises by 3.4% in January-September China is a leading global manufacturer, supplying a wide range of products to the international market BEIJING, October 14/ In the first nine months of 2024, China increased its trade turnover with other countries to $4.54 trillion, which is 3.4% more than in the same period last year, the General Administration of Customs of China reported. According to the report, China's exports grew by 4.3% to $2.61 trillion in the first three quarters, while imports increased by 2.2% to around $1.93 trillion. As a result, China's positive balance reached $680 bln, up 7.9% year-on-year. China is a leading global manufacturer, supplying a wide range of products to the international market. The country actively supports and constantly strengthens trade contacts with most countries. Moscow is Beijing's most important partner in energy supplies. In addition, Russia is increasing exports of high-quality food and agricultural products to China. In 2022, China's foreign trade turnover grew by 4.4% to a record $6.3 trillion. In 2023, it declined by 5% to $5.93 trillion. #business #finance #financialservices

#China posts biggest monthly trade surplus in at least 24 years, nearly $100B in June - Bloomberg China’s trade surplus soared to an all-time high in June, with a jump in exports overwhelming an unexpected decline in imports and raising the risk of greater trade tensions. Exports rose to $308 billion, expanding for a third straight month to the highest level in almost two years, the customs administration said Friday. Imports fell to $209 billion, leaving a record trade surplus of $99 billion for the month. The growing imbalance has spooked China’s trade partners, who have responded with more tariffs on Chinese imports including electric vehicles. This tension has worsened ties between the European Union and Beijing, which this week opened a tit-for-tat probe into the EU’s trade barriers in what could bring the economies closer to a trade war. The surplus “reflects the economic condition in China, with weak domestic demand and strong production capacity relying on exports,” said Zhiwei Zhang, president and chief economist of Pinpoint Asset Management. However, “the sustainability of strong exports is a major risk for China’s economy in the second half of the year. The economy in the US is weakening. Trade conflicts are getting worse.” Source: Bloomberg

China’s service trade continued to experience rapid growth in the first five months of 2024. According to the Ministry of Commerce, the total value of service imports and exports reached 3.02 trillion yuan ($415.6 billion), representing a year-on-year increase of 16%. The exports amounted to approximately 1.22 trillion yuan, up 11%, while imports stood at 1.8 trillion yuan, with a robust growth of 19.6%. This resulted in a service trade deficit of around 580 billion yuan. Read more: https://lnkd.in/drKk8RMH #China #Trade #Economy #Import #Export

China's trade turnover with other countries rises by 3.7% in January-August In 2022, China's foreign trade turnover grew by 4.4% and reached a record $6.3 trillion BEIJING, September 10/ China's trade turnover with other countries increased by 3.7% year-on-year to $4.02 trillion in January-August, according to the General Administration of Customs of China. The report noted that China's exports increased by 4.6% to $2.31 trillion during the period, while imports rose 2.5% to $1.71 trillion. China's positive balance for eight months is estimated at about $608.5 bln, which is 11.2% more than the same period in 2023. In 2022, China's foreign trade turnover grew by 4.4% and reached a record $6.3 trillion. In 2023, it fell by 5% and amounted to $5.93 trillion. #business #finance #financialservices

China's exports saw a significant surge in May, even amid ongoing trade tensions. However, import numbers fell short of expectations. Dive into the full analysis to understand the implications for global trade. https://lnkd.in/d4jGx956 #Trade #Economy #China #Exports #Imports

Made In Mexico! #Mexico surpasses #China as Top Exporter to #US economy. Will this preferential regional trade hub of USA relationships with its closest #USMCA neighbors (#Mexico and #Canada) and a #transAtlantic shift to #EU trading routes spell major long-term disruptions for China's much needed economic recovery? #regionaltradeagreements #bilateraltrade #eutrade #economicrecovery #economy2023 https://lnkd.in/eekNX28x.

But 🇨🇳China 🤔 Beating expectations For the Chinese government, the ever-widening trade surplus is good news. Consumers in distant markets are buying many of the goods that Chinese households no longer want or cannot afford. Exports help keep factories open in China, and provide the money for even more factories under construction as part of a national strategy to expand industrial output. But China’s soaring trade surpluses have prompted alarm in many foreign capitals. Officials around the world worry that exports from China will displace their own industrial output, forcing factories to close and hurting economic growth. In recent weeks, governments in the United States, the European Union, Brazil, India, Turkey and elsewhere have been raising tariffs or imposing new ones on manufactured goods from China. Free trade for everyone? Or Tariffs for some?

【NEWS UPDATE】📊 China's Exports Surge Amid Economic Challenges! 🇨🇳📈 https://lnkd.in/g5EN5dkQ In August, China's exports grew at their fastest pace in nearly a year and a half, rising 8.7% year-on-year. This surge comes as manufacturers rush to fulfill orders before potential tariffs are imposed by trading partners. However, imports lagged at just 0.5% growth, highlighting weak domestic demand. 🔍 Key Insights: Trade Surplus: China’s trade surplus with the U.S. expanded to $33.81 billion, raising concerns over trade imbalances. Geopolitical Pressures: Growing trade barriers, especially from Canada and Southeast Asia, threaten China’s price-driven export strategy. Economic Outlook: Despite current export strength, economists warn that relying heavily on exports may hinder Beijing's growth targets. 💡 Looking ahead, the weaker yuan may help exporters navigate tariffs, but challenges remain as domestic consumption struggles. As analysts point out, imports are crucial for maintaining robust exports, particularly in the electronics sector. Stay informed on the evolving landscape of global trade! 🌍 #ChinaExports #TradeSurplus #GlobalEconomy #EconomicGrowth #MarketInsights #TradePolicy #ImportExport #Geopolitics