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Foreign trade of China's Yangtze River Delta region hits new high in 2024

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Foreign trade of China's Yangtze River Delta region hits new high in 2024

2025-01-26 17:18 Last Updated At:01-27 00:27

The foreign trade of east China's affluent Yangtze River Delta hit a record high in total value in 2024, according to the customs administration of east China's financial hub of Shanghai.

The delta, encompassing the provinces of Jiangsu, Zhejiang, and Anhui, as well as the Shanghai Municipality, has been considered as one of China's most economically vibrant regions.

Data show that in 2024, the delta region's total goods imports and exports reached 16.01 trillion yuan (about 2.21 trillion U.S. dollars), up 5.6 percent year on year, accounting for 36.5 percent of the national total in the same year.

In particular, the region's exports grew 8.2 percent year on year to 9.95 trillion yuan (1.37 trillion U.S. dollars), while imports expanded 1.5 percent from one year earlier to 6.06 trillion yuan (836.4 billion U.S. dollars).

The region's foreign trade with nations involved in joint construction of the Belt and Road, other Regional Comprehensive Economic Partnership (RCEP) members, and other BRICS countries stood at 7.7 trillion yuan (1.06 trillion U.S. dollars), 4.9 trillion yuan (676.3 billion U.S. dollars) and 2.13 trillion yuan (294 billion U.S. dollars) respectively.

Also in the last year, mechanical and electrical products from the Yangtze River Delta region took a lion's share of its export, amounting to 5.96 trillion yuan (822.6 billion U.S. dollars).

Among them, integrated circuit, ship and vehicles were the highlights, with their exports hitting 455.35 billion yuan (62.85 billion U.S. dollars), 198.17 billion yuan (27.35 billion U.S. dollars) and 326.08 billion yuan (45 billion U.S. dollars) separately. The export performance of high-end equipment and new high-tech products was quite good as well, with their volume reaching 261.16 billion yuan (36 billion U.S. dollars) and 2.23 trillion yuan (307.8 billion U.S. dollars) respectively.

Foreign trade of China's Yangtze River Delta region hits new high in 2024

Foreign trade of China's Yangtze River Delta region hits new high in 2024

China's push toward a greener future is once again in the spotlight at this year's annual political "two sessions", as lawmakers are reviewing a draft ecological environment code, a significant step toward establishing a comprehensive legal framework for ecological protection.

The draft code was submitted on March 5 to the ongoing fourth session of the 14th National People's Congress (NPC), China's top legislature, for deliberation.

Once adopted, it will become China's second formal statutory code, after the Civil Code, which was adopted in 2020.

The rule of law has been continuously strengthened to support the country's green progress. China already has more than 30 laws related to environmental protection, along with over 100 sets of administrative regulations and more than 1,000 sets of local rules.

The latest legislative move comes amid China's historic gains in ecological conservation over the past decade or so. Championing green development, the country has recorded the world's fastest growth in forest resources and afforestation, led globally in renewable energy development, and achieved one of the fastest national reductions in energy intensity worldwide.

The 1,242-article draft has five chapters, covering areas including pollution control, ecological protection, and green and low-carbon development.

Scholars involved in drafting the legislation say the code goes beyond broad legal principles. It is also designed to address environmental issues that affect people's daily lives.

"Electric vehicles are becoming very common in China. My family has one. We all think it environment-friendly. But have you ever thought about this question: how do we deal with the first generation of EV batteries after they expire a few years later? The same goes for wind turbine blades and solar panels," said Ding Lin, assistant professor of the Renmin University of China.

China's environmental progress has drawn global attention in recent years, from improving air quality to expanding renewable energy. Yet amid geopolitical tensions and economic uncertainty, some observers have questioned whether the country will maintain the same pace of green transition.

"Last year during the COP30, even some friends who are very familiar with China asked me whether China will continue its green development path. I told them we have gradually worked out new policies. We have a very clear direction and goal. In a world full of uncertainties, we are providing the most certainty," said Wang Yi, an NPC deputy from east China's Zhejiang Province and professor of the Chinese Academy of Sciences.

In a country pursuing modernization, taking the time to codify environmental laws sends a clear message: economic growth and environmental protection are not a trade-off to be managed, but a commitment to be upheld. For China, a beautiful environment is not a luxury for the future, it is a right for the present, and a responsibility to the next generation.

"This code reflects China's vision of harmonious coexistence between humanity and nature. It shows how development and environmental protection can move forward together," said Lyu Zhongmei, vice chair of the NPC Environmental Protection and Resources Conservation Committee.

China will accelerate the green transition across the board and cut carbon dioxide emissions per unit of the GDP by a total of 17 percent in the 2026-2030 period, according to a draft outline of the 15th Five-Year Plan (2026-30) for national economic and social development submitted to the NPC for deliberation on March 5.

Chinese lawmakers review draft ecological environment code in major green legislative push

Chinese lawmakers review draft ecological environment code in major green legislative push

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