China’s foreign trade reached 32.33 trillion yuan ($4.57 trillion) in the first three quarters of 2024, reflecting a year-on-year increase of 5.3%, according to the General Administration of Customs (GAC).
Exports surged by 6.2% to 18.62 trillion yuan, while imports rose by 4.1% to 13.71 trillion yuan. Each quarter of 2024 saw trade values exceed 10 trillion yuan, marking a record high for the period.
Wang Lingjun, vice-minister of the GAC, reported that trade with over 160 countries and regions continued to expand. He highlighted improvements in the structure of exported products, noting that high-tech equipment exports jumped over 40% year-on-year from January to September.
Additionally, exports of electro-mechanical products increased by 8%, totaling 11.03 trillion yuan and comprising 59.3% of China’s total exports. This growth underscores the ongoing optimization of China’s export landscape as it continues to adapt to global market demands.