下半年开门红，深圳进出口止跌

Core Insights - Shenzhen's import and export activities serve as a barometer for the national foreign trade situation, with the city being the largest in terms of import and export scale in mainland China for 2024 [2] Trade Performance - In the first seven months of this year, Shenzhen's total import and export value reached 2.58 trillion yuan, remaining flat compared to the same period last year, marking an end to six consecutive months of year-on-year decline [2] - Shenzhen's total import and export value for the entire year of last year was 4.5 trillion yuan, reflecting a growth of 16.4%, with exports at 2.81 trillion yuan, up 14.6% [2] - The overall trend for Shenzhen's import and export activities has shown gradual improvement month by month, despite challenges from trade wars and other adverse factors [2] Export and Import Breakdown - In the first seven months, Shenzhen's exports totaled 1.56 trillion yuan, a decrease of 5.4% year-on-year, while imports reached 1.02 trillion yuan, an increase of 9.4% [2] - The general trade method accounted for 54.9% of Shenzhen's total import and export value, with a total of 1.42 trillion yuan; bonded logistics contributed 27.1% with 699.28 billion yuan, and processing trade made up 17.5% with 451.19 billion yuan [2] Trade Entities - There were 49,000 foreign trade enterprises with import and export performance in Shenzhen in the first seven months, a historical high, with an increase of 2,300 compared to the previous year [3] - Private enterprises accounted for nearly 70% of the total import and export value, amounting to 1.8 trillion yuan, while foreign-invested enterprises saw an 11.3% growth in their import and export activities [3] Export Products - The traditional electronic information industry and strategic emerging industries maintained growth in exports, with mechanical and electrical products reaching 1.17 trillion yuan, a growth of 4.4%, accounting for 74.7% of total exports [3] - Specific product exports included computers and components at 179.51 billion yuan (growth of 10.8%), audio-visual equipment and parts at 50.27 billion yuan (growth of 5.5%), lithium batteries (growth of 37.9%), and pure electric passenger vehicles (growth of 21.7%) [3] - "New quality productivity" led Shenzhen's exports, with high-end equipment exports growing 19.8% over five consecutive quarters [3] Market Diversification - Shenzhen has actively expanded its export markets, with ASEAN countries maintaining the largest share of imports and exports, and trade with Central Asian countries growing by 18.8% [4] - Imports of electronic components and automatic data processing equipment increased by 18.2% and 9.7%, respectively, driven by the city's push to become a pioneer in artificial intelligence [4] - Consumer goods imports grew by 6.7%, with significant increases in edible aquatic products and cosmetics, both showing double-digit growth [4] National Context - Nationally, the total value of goods trade in the first seven months reached 25.7 trillion yuan, a growth of 3.5%, with exports at 15.31 trillion yuan (growth of 7.3%) and imports at 10.39 trillion yuan (a decrease of 1.6%) [4]