Skip to main content

China’s foreign trade sets new record in 2024

China's imports and exports grew by 5 percent year-on-year in 2024 to reach 43.85 trillion yuan ($5.98 trillion), with the total foreign trade volume setting a new record high, according to data released by the General Administration of Customs (GAC) on Monday.

In 2024, China's total exports grew by 7.1 percent year-on-year to reach 25.45 trillion yuan. Imports grew by 2.3 percent to hit 18.39 trillion yuan, the customs data showed.

China remains the world's largest trader in goods in 2024. China has become a major trading partner for over 150 economies, and its circle of foreign trade partners continues to expand, according to the GAC.

China's trade growth last year reached 2.1 trillion yuan, matching the annual trade volume of a medium-sized economy, Wang Lingjun, deputy head of the GAC, said at a press conference on Monday.

China's role as a major trading partner with global partners was highlighted. For example, China's trade volume with Belt and Road Initiative (BRI) partner countries grew by 6.4 percent year-on-year, accounting for more than 50 percent of the nation's total trade for the first time.

For more information visit Global Times, 2025, GAC, 2025

Comments

Post a Comment

Popular posts from this blog

Luggage Guidelines for Domestic Flights in China

It is essential to understand airline baggage regulations to ensure a smooth check-in and boarding experience when traveling on domestic flights within China. Most Chinese airlines enforce strict guidelines for both carry-on and checked baggage, including specific weight limits, size restrictions, and rules governing liquids and electronic devices.   Familiarizing yourself with these requirements in advance can help you avoid delays, additional fees, or the confiscation of prohibited items at security checkpoints. Passengers are strongly advised to consult the airline’s official website or other official online portals for the most up-to-date and airline-specific information prior to travel. The following provides a general overview and is intended for guidance only.   Checked Baggage Weight: 20 kg (Economy), 30 kg (Business), 40 kg (First Class) Size: ≤ 158 cm (L + W + H)   Carry-On Luggage Weight: 5–10 kg (strict on budget airlines) Size: ≤ 20×40×55 cm Personal Item: 1 ...
Post a Comment
Read more

Chinese Gift Giving Culture

Gift-giving plays a significant role in Chinese culture, symbolizing respect, goodwill, and relationship-building (Guanxi) in both personal and business contexts. It is deeply rooted in Confucian values emphasizing reciprocity and harmony. Gifts are commonly exchanged at every appropriate opportunity, including festivals such as Chinese New Year and the Mid-Autumn Festival, as well as during weddings and business meetings, to strengthen relationships and express appreciation.   When giving gifts in China, thoughtfulness and presentation matter more than the value of the gift. Avoid taboo items such as clocks, umbrellas, or sharp objects, as they carry negative connotations. Instead, choose items that symbolize prosperity and good fortune, like tea, fine wine, or specialty foods. Present gifts with both hands and expect modest refusal before acceptance as a sign of politeness.   In business, gift-giving helps build trust and long-term partnerships, but it’s important to be mind...
Post a Comment
Read more

Chinese New Year and Global Trade

The Chinese Spring Festival, also known as Chinese New Year, is the most important traditional festival in China, typically falling between late January and mid-February. It marks the beginning of the lunar new year and is celebrated with family gatherings, feasts, fireworks, and various cultural activities. It is a period where Chinese go home to reunite with family, exchange gifts, and wish each other prosperity for the coming year. This year is referred to as the year of the snake. China launched a month-long online shopping event to promote traditional Chinese culture, festive goods, boost e-commerce sales, among others. The event, initiated by the Ministry of Commerce and organized under the guidance of several government Departments and the China Consumers Association, is running from 7 January to 5 February 2025. E-commerce platforms and brick-and-mortar businesses launched a wide variety of shopping events where high-quality products, including imported goods, are put on ...
Post a Comment
Read more