【Brief description】BEIJING, Nov. 7 (Xinhua) -- China's trade in goods logged steady expansion in the first 10 months of this year as supportive policies, and enterprising trade firms contributed to the market's resilience.
This photo taken on July 11, 2022 shows a scene from the welcome ceremony for the 10,000th trip made by China-Europe freight trains operated by the China-Europe Railway Express (Chongqing) in Duisburg, Germany. (Xinhua/Ren Pengfei)
BEIJING, Nov. 7 (Xinhua) -- China's trade in goods logged steady expansion in the first 10 months of this year as supportive policies, and enterprising trade firms contributed to the market's resilience.
The country's foreign trade of goods climbed 9.5 percent year on year to 34.62 trillion yuan (about 4.79 trillion U.S. dollars) during the Jan.-Oct. period, data from the General Administration of Customs showed Monday.
Exports rose 13 percent year on year to 19.71 trillion yuan, while imports increased 5.2 percent from a year ago to 14.91 trillion yuan.
In October, the country's trade in goods totaled 3.55 trillion yuan, up 6.9 percent over one year ago. Exports and imports rose 7 percent and 6.8 percent, respectively.
In the first 10 months of 2022, ASEAN was China's largest trading partner, whose trade volume with China accounted for 15.2 percent of the country's total foreign trade.
The European Union and the United States were China's second-largest and third-largest trading partners during the period, respectively.
China's trade with countries and regions participating in the Belt and Road Initiative posted robust year-on-year growth, with both exports and imports jumping over 20 percent.
In terms of specific trade goods, mechanical and electrical products, and labor-intensive products, continued to be popular exports, with the former making up 57.1 percent of the total exports value.
China's exports of automobiles surged 72 percent year on year, while exports of cellphones ticked up 8.7 percent over one year ago.
During the first 10 months, the country's imports of iron ore, crude oil, coal, natural gas, and soybeans shrank.
China's foreign trade companies expressed stronger confidence and maintained higher expectations regarding trade prospects for the entire year during the third quarter, revealed a survey conducted by the China Council for the Promotion of International Trade (CCPIT).
Some 30.31 percent of the surveyed firms said they expect to achieve year-on-year growth in annual trade volumes, up 4.09 percentage points from the second quarter.
Many surveyed firms voiced their appreciation of the country's string of trade-facilitating steps, such as tax and fee cuts, export tax rebates, and cross-border RMB transactions.
The Chinese vast community of private firms registered rapid trade growth during the Jan.-Oct. period. Their trade volume expanded 14.4 percent to reach 17.44 trillion yuan, accounting for 50.4 percent of China's total foreign trade, 2.2 percentage points higher than the same period last year.
To further boost imports, China announced last week that 29 more national demonstration zones for import promotion and innovation will be set up, bringing the total number of such demonstration zones to 43 across the country.
China's foreign trade has displayed strong resilience despite global headwinds, said Zhou Jinzhu, an associate researcher with the Academy of China Council for the Promotion of International Trade, a think tank.
With supportive policies continuing to play their roles in the fourth quarter, China's trade is expected to nail positive growth for 2022, Zhou estimated.
BYD held a passenger vehicle brand launch event at the National Monument Park in Jakarta, unveiling three all-electric models: BYD ATTO 3, BYD DOLPHIN, and BYD SEAL (domestically named Yuan PLUS, Dolphin, and Seal).MORE +
the Great Wall Motors' Hi4-T achieved the honor of being recognized as one of the World's Top Ten Hybrid Systems by the Automotive Evaluation Research Institute. Following the accolade received by the Hi4 as one of the "China's Heart" Top Ten Engines and Hybrid Systems, the Hi4 technology system adds another award, showcasing its innovative breakthrough in autonomous hybrid technology and contributing to the continued success of Great Wall Motors in the field of new energy vehicles. As a unique and pioneering power evaluation event, the second edition of the World's Top Ten Hybrid Systems, organized by the Automotive Evaluation Research Institute, focuses on exploring the characteristics and market prospects of hybrid transmission technology.MORE +
BYD's Mexico subsidiary delivered the first batch of 20 electric buses to the Mexico City transportation authorities, which have been put into operation. This collaboration involves a total of 55 all-electric buses, marking the largest single delivery of electric buses in Mexico to date. The delivery ceremony was attended by Martí Batres Guadarrama, Mayor of Mexico City, Andrés Lajous Loeza, Secretary of the Mexico City Transportation Department, Rosario Castro Escorcia, General Manager of Mexico City's Metrobús public transit system, Alberto Adib Carrera, Promotion Director of Mexico's National Financial Institution, Adrián Escamilla, Executive Director of the Mexico Airport Corridor Center, Rafael Burgos, Director of Enel X, and Zou Zhou, National Manager of BYD's Mexico subsidiary.MORE +