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6月进出口规模居历史同期第二!“Labubu”全球出圈:潮玩出口额已破百亿元
证券时报·2025-07-14 07:20

Core Viewpoint - China's foreign trade showed resilience in the first half of the year, with a total import and export value of 21.79 trillion yuan, a year-on-year increase of 2.9%, despite facing challenges from global unilateralism and protectionism [1][3]. Group 1: Trade Performance - In the first half of the year, exports reached 13 trillion yuan, growing by 7.2%, while imports totaled 8.79 trillion yuan, declining by 2.7% [1]. - The trade scale in June reached 3.85 trillion yuan, marking a 5.2% increase, with exports at 2.34 trillion yuan (up 7.2%) and imports at 1.51 trillion yuan (up 2.3%) [1]. - China's total import and export value has remained above 10 trillion yuan for nine consecutive quarters, with an increase of over 600 billion yuan compared to the same period last year [2][3]. Group 2: Quality of Trade - The quality of foreign trade is improving, with a focus on high-quality green products and new market opportunities [4]. - Exports of lithium batteries and wind turbine generators grew by over 20%, while industrial robot exports surged by 61.5% [5]. Group 3: Import Dynamics - The negative growth in imports is primarily attributed to falling prices of bulk commodities, which account for about 30% of total imports [6][7]. - The average import prices of crude oil, iron ore, and soybeans fell by over 10%, contributing to a 2.7 percentage point decrease in overall import growth [8]. Group 4: Role of Private Enterprises - Private enterprises have led foreign trade, with their import and export scale surpassing 12 trillion yuan for the first time in history, growing at a rate 4.4 percentage points higher than the national average [9][10]. - Over 80% of specialized "little giant" enterprises in foreign trade are private, with high-tech product exports from these enterprises increasing by 12.5% [11][12]. Group 5: Foreign Investment - Foreign enterprises in China maintained a positive trend, with a total import and export value of 6.32 trillion yuan, a year-on-year increase of 2.4% [14]. - The number of foreign enterprises with import and export performance reached 75,000, the highest since 2021, indicating a stable investment environment in China [14]. Group 6: Sino-US Trade Relations - In the first half of the year, trade with the US saw a total value of 2.08 trillion yuan, a decline of 9.3%, with exports down by 9.9% and imports down by 7.7% [16]. - Recent trade talks have shown positive progress, with a recovery in trade values observed in June [16].