中国外贸“变量可控”：上半年出口增长7.2%，6月对美降幅明显收窄

Core Viewpoint - China's foreign trade demonstrates strong resilience amidst complex international conditions, with significant growth in exports and imports, reflecting a strategic expansion of trade partnerships and adaptability to global market changes [2][3][4]. Trade Performance - In the first half of 2025, China's total goods trade reached 21.79 trillion yuan, marking a 2.9% year-on-year increase, with exports growing by 7.2% and imports by 2.3% [2]. - June 2025 saw a total trade volume of 3.85 trillion yuan, a 5.2% increase year-on-year, with exports at 2.34 trillion yuan (up 7.2%) and imports at 1.51 trillion yuan (up 2.3%) [3]. Trade Partners and Markets - China expanded its trade relationships, achieving growth in exports and imports with over 190 countries and regions, including a notable 14.4% increase in trade with Africa [3]. - The number of trade partners with a trade volume exceeding 50 billion yuan increased to 61, up by five from the previous year [3]. Trade with the United States - Trade with the U.S. saw a decline in the second quarter, with a year-on-year drop of 20.8%, but there was a recovery in June, with trade values rising from under 300 billion yuan to over 350 billion yuan [4]. - For the first half of 2025, trade with the U.S. decreased by 9.3%, with exports down 9.9% and imports down 7.7% [4]. High-Technology Products and E-commerce - High-tech product exports grew by 9.2%, with significant increases in sectors like lithium batteries and industrial robots, which saw a 61.5% rise in exports [5]. - Cross-border e-commerce maintained growth, with total imports and exports reaching approximately 1.32 trillion yuan, a 5.7% increase year-on-year [6]. Business Confidence and Foreign Investment - Confidence among foreign trade enterprises is recovering, with a steady increase in the number of exporting companies, reaching over 50,000 in the first half of 2025 [8]. - Private enterprises led the growth in exports, with a 7.3% increase, accounting for 57.3% of total foreign trade [8][9]. - Foreign investment in China remains strong, with 7.5 million foreign enterprises engaged in trade, marking a new high since 2021 [10][11].