China's trade volume with fellow Shanghai Cooperation Organization (SCO) members hit a record high in the first nine months of this year, official data showed on Monday.
The latest data for the first three quarters showed that China's imports and exports with fellow SCO members reached 2.75 trillion yuan (about 385 billion U.S. dollars), a year-on-year increase of 2.4 percent.
Railway dominated the mode of transport for China's trade with fellow SCO countries, while two-way trade via road and air transport also saw significant growth, said Lyu Daliang, spokesman of the General Administration of Customs, at a press conference in Beijing.
"In the first three quarters, China's imports and exports with other SCO members via railway exceeded 360 billion yuan (about 50.4 billion U.S. dollars), accounting for 70 percent of China's total import and export value via railway transport. Our imports and exports [with other SCO members] via road and air transport also increased by 10.9 percent and 37 percent, respectively," said Lyu who is also the director general of the Department of Statistics and Analysis of the General Administration of Customs.
Lyu highlighted the diversified development of trade entities and products.
"In the same period, the number of Chinese enterprises with actual import and export records with other SCO members exceeded 190,000, an increase of approximately 8,500 compared to the same period of last year. China's imports of agricultural products from other SCO members reached 74.3 billion yuan (about 10.4 billion U.S. dollars), growing by 6.1 percent. Meanwhile, China's exports of agricultural machinery, pharmaceuticals, and medical devices to other SCO members increased by 51.9 percent, 14.7 percent, and 13.4 percent, respectively," Lyu added.
Since the inception of the SCO in mid-2021, China's import and export volume with other members had surged from approximately 100 billion yuan to 3.65 trillion yuan in 2024.
Trade between China, other SCO members hits record high in first 9 months: official
The "soft landing" of the China-EU electric vehicle case will greatly boost market confidence and inject new momentum into China-EU cooperation in automobile trade and investment, a spokeswoman of the Ministry of Commerce (MOC) said at a press briefing in Beijing on Thursday.
He Yongqian, the spokeswoman, made the remarks after China and the European Union (EU) agreed on the necessity of providing general guidance on price undertakings for Chinese companies exporting battery electric vehicle (BEV) passenger cars to the EU.
"China and the EU simultaneously announced on Monday that they had achieved positive outcomes following multiple rounds of consultations on the EV case, a development that has drawn wide attention at home and abroad. Industry players from both sides have 'highly welcomed and fully endorsed' the outcome, saying the 'soft landing' of the case is expected to greatly boost market confidence and inject new momentum into China-EU cooperation in automobile trade and investment. Some EU politicians have described it as a positive step toward building a sustainable China-EU trade relationship, and said it demonstrated that resolving trade differences through partnership remains feasible," she said.
"Against the current international backdrop, China and the EU, acting in a spirit of mutual respect and within the framework of WTO rules, have properly addressed the EV case, which is of significant positive importance. The outcome will not only contribute to the sound development of China-EU economic and trade ties and help safeguard the stability of the global automotive industrial and supply chains, but will also send a clear and strong signal that both sides are willing to uphold a rules-based international trading order, setting a good example for countries to resolve differences through dialogue and consultation and injecting greater certainty and positive energy into global economic growth," she said.
"China appreciates the spirit of dialogue showed by the EU side and stands ready to work with the EU, building on the current positive outcomes, to further implement the consensus reached by the leaders of the two sides, maintain dialogue and communication, and support stable industrial and supply chains on both sides, continue to deepen cooperation on the basis of market principles, and make active contributions to the global green transition," she added.
"Soft landing" of China-EU EV case to significantly boost market confidence: MOC spokeswoman
