4月份外贸数据“超预期”并不意外

Core Viewpoint - China's foreign trade data for April exceeded expectations, with total imports and exports reaching 3.84 trillion yuan, a year-on-year increase of 5.6%, marking the second-highest monthly trade volume in history [1] Group 1: Export Performance - Exports in April amounted to 2.27 trillion yuan, growing by 9.3%, while imports were 1.57 trillion yuan, increasing by 0.8% [1] - In the first four months, exports of electromechanical products reached 5.04 trillion yuan, up 9.5%, accounting for 60.1% of total exports [2] - High-tech product exports totaled 1.52 trillion yuan, growing by 7.4%, representing 18.1% of total exports, with significant increases in sectors like industrial robots (58.3%) and wind power generators (45.5%) [2] Group 2: Market Diversification - China's trade with neighboring countries grew by 5.1% in the first four months, with notable increases in trade with ASEAN (9.2%) and Central Asian countries (9.9%) [3] - Trade with Belt and Road Initiative countries reached 7.25 trillion yuan, a growth of 3.9% [3] - China has established itself as a major trading partner with over 150 countries and regions, signing 23 free trade agreements with 30 countries, enhancing its global trade network [3] Group 3: Role of Private Enterprises - Private enterprises, as the largest foreign trade operators, contributed over 50% of China's total foreign trade, with imports and exports reaching 8.05 trillion yuan, a year-on-year increase of 6.8% [4] - The share of private enterprises in total foreign trade rose to 56.9%, up 2.3 percentage points from the previous year, highlighting their crucial role in stabilizing trade growth [4] - The strong performance of private enterprises reflects the optimization of China's economic structure and market strategies, despite facing complex external challenges [4]