China's foreign trade achieved double-digit growth in the first half of the year despite uncertainties in international landscape, with the robust growth momentum characterized by a stabilized scale, new growth drivers, dynamic market entities, and deeper internal-external integration, said Wang Jun, deputy head of the General Administration of Customs (GAC), on Tuesday.
Speaking at a press conference in Beijing, Wang used four sets of keywords, namely stability, innovation, dynamism and integration, to describe the robust development momentum of China's foreign trade in the first six months, echoing Chinese Premier Li Qiang's characterization of the broader Chinese economy at the Summer Davos forum in late June.
First, China's foreign trade expanded steadily in scale from January to June, the official said.
"In the first half of the year, China's total import and export value surpassed 25 trillion yuan (nearly 3.7 trillion U.S. dollars) for the first time on an biannual basis, marking an increase of 3.68 trillion yuan (542.6 billion U.S. dollars) compared with the same period of last year. Computed on a monthly basis, the figure exceeded 4 trillion yuan (589.8 billion U.S. dollars) for four consecutive months. According to the latest international data, China firmly holds the position of the world's largest trading nation in goods," Wang said.
Second, technological innovation, particularly in artificial intelligence (AI), emerged as a powerful engine of China's foreign trade growth, according to Wang.
"In the first half of the year, imports and exports of computing hardware, such as electronic components and computer parts, reached 5.13 trillion yuan (756.4 billion U.S. dollars), surging 56.6 percent year on year. Smart consumer products such as AI-powered glasses, AI translators, and mechanical exoskeletons saw rapid iteration, with various innovative goods keeping emerging," the official said.
Third, Chinese foreign trade companies demonstrated remarkable adaptability and global outreach, expanding their business footprints to a greater number of other countries and regions, according to Wang.
"Compared with the same period of last year, some 267,000 foreign trade firms broke into new markets in the first half of the year, with their combined import and export value growing by 22.6 percent year on year. These companies accounted for nearly 70 percent of the country's total foreign trade value in the six-month period," he said.
And fourth, China continued to broaden its opening-up, having implemented zero-tariff policies for 63 other countries to foster shared development with trading partners, Wang said.
"In the first half of the year, China's imports from and exports to the signatories of 31 free trade agreements increased by 28.1 percent over the same period of last year, with these trading partners' share of China's total foreign trade rising to 46.5 percent. In the first six months, comprehensive bonded zones fully leveraged their unique functions and policy integration advantages in connecting domestic and international markets and resources, with their imports and exports reaching 4.34 trillion yuan (639.9 billion U.S. dollars), up 28.2 percent year on year," he said.
Despite the strong performance, Wang acknowledged that the external environment remains complex and volatile.
The official noted the World Bank has warned of multiple pressures facing the global economy, including rising energy prices, intensifying inflationary pressures, and anticipated monetary policy tightening. Global economic growth is projected to slow from 3.5 percent last year to 3 percent this year, while global trade in goods and services is expected to decelerate from 5 percent to 3.5 percent, according to International Monetary Fund forecasts.
Wang forecast certain pressures that could weigh on China's foreign trade in the second half of the year, while expressed confidence in the country's capability of sustaining the positive development momentum seen in the first six months, thanks to its strong innovation momentum, vibrant market entities, and a high level of openness.
Four sets of keywords capture strong performance of China's foreign trade in January-June: official
A book promotion event for the fifth volume of Chinese President Xi Jinping's book on the governance of China was held in Kyrgyzstan's capital, Bishkek, on Monday, ahead of a Shanghai Cooperation Organization (SCO) summit.
Participants said that as the event coincided with the 25th anniversary of the the establishment of the SCO as an intergovernmental organization, it was of great significance for representatives from all walks of life in both countries and from the SCO family to exchange views on the book.
The important work systematically expounds the theory and practice of Chinese modernization, vividly presents China's vision and program for building a community with a shared future for humanity, and serves as an authoritative work for understanding Chinese modernization and contemporary China.
It also provides important guidance for China and Kyrgyzstan to deepen exchanges of governance experience and strengthen the alignment of their development strategies.
"As an authoritative work for understanding Chinese modernization and gaining insight into contemporary China, it also serves as an important guide for China and Kyrgyzstan to deepen exchanges on governance and strengthen the alignment of their development strategies," said Mo Gaoyi, deputy director the Publicity Department of the Communist Party of China (CPC) Central Committee, in addressing the event.
Former Kyrgyz President Roza Otunbayeva pointed out that the vision of building a community with a shared future for humanity, proposed by Chinese President Xi Jinping, is an idea and proposition with global influence.
High-quality Belt and Road cooperation has brought new development opportunities and helped Kyrgyzstan gradually transform into an important hub on the Eurasian continent, she said, adding that an in-depth study on the internal logic, governance mechanism and long-term planning of China's development is of great practical value.
"Today, we are building new highways, railway corridors, and economic corridors. These are, of course, essential. But no less important is building roads of trust through books, education, culture, academic exchanges, and people-to-people ties," she said.
Also addressing the event, Kyrgyz State Secretary Arslan Koichiev said China has been successful in adapting Marxism to its national conditions and has accumulated rich experience in integrating Marxism with China's realities. To understand Marxism in the 21st century, one should carefully study the works of President Xi, he said.
Reading the book can help people think more deeply about Kyrgyzstan's relations with China and the rest of the world, and encourage practical cooperation to promote mutual learning among civilizations as well as development and prosperity, Koichiev said.
"China's policies are viewed and interpreted differently across Europe, the United States, and other regions. On these issues, President Xi Jinping's works provide a Chinese perspective and interpretation, calling on the world to pursue dialogue, peace, and security," he said.
SCO Deputy Secretary-General Piao Yangfan said China and Kyrgyzstan, as founding members of the SCO, have made unique contributions to the establishment and development of the "Shanghai Five" mechanism.
The book includes President Xi's important speeches on building a China-Central Asia community with a shared future and an SCO community with a shared future, providing guidance for strengthening solidarity and coordination among regional countries, consolidating a secure and stable environment, enhancing the alignment of development strategies, and promoting closer people-to-people bonds, Piao said.
During the event, the Chinese side presented Kyrgyz guests with copies of the Kyrgyz edition of the third volume and the Russian edition of the fifth volume of "Xi Jinping: The Governance of China." Representatives of Kyrgyz medical workers and journalists shared stories of cooperation between the two countries in practicing the philosophy of putting the people first.
Participating experts exchanged views on topics including Chinese modernization, building a community with a shared future for humanity, the Global Governance Initiative, Belt and Road cooperation, and mutual learning among civilizations.
The event was jointly organized by China's State Council Information Office, China International Communications Group and the Chinese Embassy in Kyrgyzstan. About 300 representatives from political parties, media organizations, think tanks and other sectors of the two countries attended the event.
Kyrgyzstan, one of the founding members of the Shanghai Cooperation Organization, holds the rotating SCO presidency this year.
Book promotion event for "Xi Jinping: The Governance of China" held in Kyrgyzstan
