China's imports and exports exceeded 5 trillion yuan in September, marking a significant year-on-year growth of 27.5%.
According to customs statistics, China's total goods trade imports and exports reached 39.94 trillion yuan in the first three quarters of this year, a year-on-year increase of 18.8%. Exports totaled 23.2 trillion yuan, up 16.4%, while imports reached 16.74 trillion yuan, up 22.3%.
Notably, China's monthly import and export growth rate has maintained double-digit growth for six consecutive months. In September alone, total imports and exports reached 5.16 trillion yuan, surpassing the 5 trillion yuan threshold for the first time, representing a year-on-year increase of 27.5%. Exports stood at 3.03 trillion yuan, up 29.6%, and imports at 2.13 trillion yuan, up 24.6%.
In the first three quarters, China's imports and exports demonstrated five key characteristics:
1. Sustained and Rapid Growth in Imports and Exports
On a quarterly basis, China's imports and exports grew by 15.3% in the first quarter, 18.3% in the second quarter, and further accelerated to 22.3% in the third quarter, reflecting a progressively strengthening trajectory.
2. Consolidation and Expansion of Market Diversification
In the first three quarters, China achieved trade growth with more than 180 countries and regions worldwide. Imports and exports with free trade partners reached 19.55 trillion yuan, up 30%, contributing more than 70% of the overall increase in foreign trade. Imports and exports with other APEC economies reached 24.07 trillion yuan, up 23.9%; with ASEAN, 6.84 trillion yuan, up 22.7%; with the European Union, 4.78 trillion yuan, up 8.4%; and trade with the United States continued to recover, with imports and exports reaching 3.18 trillion yuan, up 4.1%.
3. Export Momentum Continuing to Advance Toward Higher Value
In the first three quarters, China's equipment manufacturing sector played a leading role, contributing nearly 90% of the increase in exports. Intermediate goods accounted for more than half of total export value, effectively serving as a stabilizing anchor in global production and supply chains. Export products accelerated their upgrade toward intelligent and green directions: integrated circuit exports grew by 99.1%, while exports of electric vehicles, lithium batteries, and wind turbines and components - key green products - increased by 72.3%, 36.4%, and 22.4% respectively.
4. All Types of Business Entities Advancing in Tandem
In the first three quarters, imports and exports by China's private enterprises reached 22.73 trillion yuan, up 19.1%, accounting for 56.9% of total foreign trade value and maintaining their position as the leading force in foreign trade. Imports and exports by foreign-invested enterprises reached 11.69 trillion yuan, up 19.0%, while those by state-owned enterprises reached 5.46 trillion yuan, up 17.8%.
5. Foreign Trade Becoming More Balanced and Coordinated
In the first three quarters, China's import growth outpaced export growth by 5.9 percentage points. Driven by the development of China-Europe Railway Express services and the New International Land-Sea Trade Corridor in the western region, the pace of opening up in central and western China accelerated markedly: imports and exports in central China grew by 20.5%, while those in western China grew by 25.7%.
Overall, China's foreign trade in the first three quarters effectively withstood a range of external shocks and challenges, maintaining a sound development trajectory. Despite a complex and volatile international environment marked by mounting risks and challenges, the driving forces and vitality underpinning China's foreign trade development have continued to accumulate and strengthen, with resilience becoming increasingly evident.
