China's Import And Export Value Exceeded 34 Trillion Yuan in The First October

On November 7, the General Administration of Customs released data showing that in the first 10 months of 2023, China's import and export value of 34.32 trillion yuan, the cumulative growth rate from the first three quarters of a slight decline of 0.2% to an increase of 0.03%, to achieve positive growth. Specifically, China's general trade import and export growth, the proportion increased. In the first 10 months, China's general trade imports and exports were 22.26 trillion yuan, an increase of 1.8%, accounting for 64.9% of the total foreign trade value, an increase of 1.1 percentage points over the same period in 2022. In the same period, the import and export of processing trade was 6.29 trillion yuan, down 10.3%. In addition, China's import and export by bonded logistics totaled 4.5 trillion yuan, an increase of 6.7%. In the first 10 months, ASEAN continued to be China's largest trading partner, with the total trade value between China and ASEAN reaching 5.23 trillion yuan, an increase of 0.9%, accounting for 15.2% of China's total foreign trade value. The European Union and the United States are the second and third largest trading partners, respectively. In addition, China's total imports and exports to countries jointly building the Belt and Road Initiative totaled 15.96 trillion yuan, an increase of 3.2 percent. Imports and exports of private enterprises maintained growth. In the first 10 months, the import and export of private enterprises reached 18.24 trillion yuan, an increase of 6.2%, accounting for 53.1% of China's total foreign trade value, an increase of 3.1 percentage points over the same period in 2022. Imports and exports of state-owned enterprises were 5.51 trillion yuan, down 0.2%, accounting for 16.1% of China's total foreign trade. In the same period, the import and export of foreign-invested enterprises was 10.48 trillion yuan, down 9.2%, accounting for 30.5% of China's total foreign trade.