粤开宏观：中国31省份对美进出口的基本格局与特征

Export Characteristics - China's exports to the US are highly concentrated in the eastern region, with Guangdong, Zhejiang, and Jiangsu provinces accounting for nearly 60% of total exports to the US[2] - In 2024, the total export value to the US reached $524.66 billion, with a trade surplus of $361.03 billion, representing 36.4% of China's overall trade surplus[8] - The top three export categories to the US are electromechanical equipment, textiles and apparel, and furniture and toys, which together account for 77.3% of total exports[14] Import Characteristics - Major import regions include Beijing, Shanghai, Guangdong, Jiangsu, Zhejiang, and Sichuan, each exceeding $10 billion in imports from the US, collectively accounting for over 70% of total imports[20] - In 2024, the total import value from the US was $163.62 billion, with electromechanical equipment, mineral products, and food and beverages being the top three categories[25] - Sichuan and Tianjin show high dependency on US imports, with import dependency rates of 18.5% and 14.9% respectively, primarily for advanced manufacturing components[24] Trade Balance - 27 provinces in China have a trade surplus with the US, with Guangdong, Zhejiang, and Jiangsu provinces contributing to 70.8% of the total trade surplus of $361.03 billion[32] - Guangdong leads with a surplus of $115.42 billion, followed by Zhejiang at $73.35 billion and Jiangsu at $66.81 billion[32]