Core Insights - In the first half of the year, China's total goods trade import and export value reached 21.79 trillion yuan, marking a historical high for the same period, with a year-on-year growth of 2.9% [1] - Exports amounted to 13 trillion yuan, a year-on-year increase of 7.2%, while imports were 8.79 trillion yuan, showing a decline of 2.7% [1] - The second quarter saw a 4.5% year-on-year growth in trade, accelerating by 3.2 percentage points compared to the first quarter, maintaining growth for seven consecutive quarters [1] Trade Performance - Exports of electromechanical products reached 7.8 trillion yuan, up 9.5% year-on-year, accounting for 60% of total exports [1] - High-end equipment related to new productive forces grew by over 20%, while "new three samples" products, representing green and low-carbon initiatives, increased by 12.7% [1] - The import growth was driven by domestic demand expansion, with significant increases in imports of petrochemical, textile, and machinery equipment, as well as key electronic components and important raw materials like crude oil and metal ores [1] Trade Entities and Partners - There were 628,000 foreign trade enterprises with import and export performance, surpassing 600,000 for the first time, an increase of 43,000 from the previous year [2] - Private enterprises accounted for 547,000, with a 7.3% growth in import and export, making up nearly 60% of the total trade value [2] - Trade with countries involved in the Belt and Road Initiative reached 11.29 trillion yuan, a growth of 4.7%, representing 51.8% of total trade value [2] Economic Outlook - The overall performance of China's foreign trade in the first half of the year was characterized by stable growth in scale and improved quality, despite challenges from global unilateralism and protectionism [2] - Recent trade talks in Geneva and London have shown positive progress, with a recovery in China-U.S. trade, as June's import and export value exceeded 350 billion yuan, significantly narrowing the year-on-year decline [2]

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].

7月14日，国新办就2025年上半年进出口情况举行新闻发布会。海关总署副署长王令浚介绍，面对单边 主义、保护主义，我们不断扩大"朋友圈"，拉紧经贸合作纽带，大力提振企业信心，共同应对外部环境 的急剧变化。上半年，我国对190多个国家和地区进出口实现增长，贸易规模超过500亿元的伙伴数量达 到61个，比去年同期增加了5个。在对欧盟、日本、英国等传统市场实现增长的同时，新兴市场贡献了 更多的增量，上半年对非洲进出口1.18万亿元，增长14.4%，对中亚进出口3572亿元，增长13.8%。"爬 坡过坎，关键是提振信心"。最新一期中国海关贸易景气调查结果显示，出口企业和进口企业信心都连 续两个月回升。 ...

Core Viewpoint - The Customs General Administration emphasizes that while China's foreign trade has shown stable growth in the first half of the year, significant efforts will be required to maintain this momentum in the second half due to increasing global unilateralism and protectionism [1] Group 1 - The Deputy Director of the Customs General Administration, Wang Lingjun, stated that China's foreign trade has achieved stable growth and improved quality in the first half of the year, which is a commendable achievement given the challenging circumstances [1] - The growth in foreign trade is attributed to the centralized and unified leadership of the Party, as well as the collaborative efforts of various local departments and foreign trade enterprises [1] - Despite the positive performance, the external environment remains complex and uncertain, necessitating continued hard work to sustain foreign trade growth in the latter half of the year [1]

Core Insights - The Chain Expo serves as a bridge connecting global industrial and supply chains amidst rising unilateralism in international trade [1][6] - China is accelerating the construction of a new development pattern that emphasizes domestic circulation while promoting international cooperation [2][4] - The expo showcases China's commitment to open cooperation and its role as a leader in global supply chain innovation [5][6] Group 1: Event Overview - The third Chain Expo will be held from July 16 to 20 in Beijing, featuring six major supply chains including advanced manufacturing, clean energy, and digital technology [1] - The expo aims to demonstrate the resilience of supply chains and the importance of multilateral cooperation in addressing global challenges [1][3] Group 2: Economic Implications - The Chain Expo enhances China's ability to allocate global resources and reflects global partners' confidence in the Chinese market [3][4] - It serves as a practical platform for the dual circulation strategy, facilitating online and offline integration to transform traditional foreign trade [3][4] Group 3: Strategic Importance - The expo is pivotal in optimizing domestic industrial layout and increasing international economic cooperation partners [4][5] - It promotes high-value industries such as smart manufacturing and green energy, helping domestic companies upgrade and adapt to international competition [5][6] Group 4: Global Cooperation - The Chain Expo aims to build a diversified international market network, reducing reliance on traditional markets and enhancing stability [5][6] - It sends a clear message that open and inclusive cooperation is essential for mutual benefit in the face of trade protectionism [6]

Group 1 - The current global economic environment is characterized by instability and uncertainty, with the US trade war significantly impacting the multilateral trade system and global supply chains [1][2] - China is committed to high-quality development, showcasing strong economic resilience and stable growth, with an expected increase of 35 trillion RMB in economic output over the past four years [2] - Technological innovation in China has led to advancements in high-performance chips, AI models, and robotics, contributing to a reduction of 11.6% in energy consumption per unit of GDP over the last four years [2] Group 2 - China has fully removed restrictions on foreign investment in the manufacturing sector, with cumulative foreign direct investment reaching 4.7 trillion RMB from 2021 to May this year, positioning China as a preferred investment destination [2] - The trade volume between China and the UK has consistently exceeded 110 billion GBP annually, with bilateral investment stock surpassing 130 billion GBP [2] - Green finance cooperation is advancing, highlighted by China's issuance of 6 billion RMB green sovereign bonds on the London Stock Exchange [2] Group 3 - The potential for cooperation in finance and education between China and the UK is significant, with China being the largest source of international students in the UK, totaling over 200,000 [2][3] - Both countries should focus on mutual respect and open collaboration to enhance cooperation across various sectors, creating a better environment for bilateral relations [3]

Group 1 - The European Union is strengthening trade cooperation in response to a new wave of protectionism [1] - The EU emphasizes the importance of a trade system that is rule-based, non-discriminatory, open, fair, inclusive, equal, and transparent, with the World Trade Organization at its core [1]

Group 1 - Wang Yi, the Foreign Minister of China, attended multiple East Asian cooperation meetings in Kuala Lumpur, including the China-ASEAN Foreign Ministers' Meeting and the ASEAN Plus Three Foreign Ministers' Meeting [1] - China views ASEAN as a priority in its foreign diplomacy and supports ASEAN's central role in regional architecture, aiming to enhance cooperation and security in the region [1][2] - The Chinese government is committed to signing the Southeast Asia Nuclear-Weapon-Free Zone Treaty Protocol and advancing the South China Sea Code of Conduct negotiations [1] Group 2 - Wang Yi emphasized the positive overall situation of East Asian cooperation, focusing on development and collaboration despite challenges from unilateralism and protectionism [2] - The Chinese government aims to enhance cooperation dynamics and resilience in development, promoting regional integration and a more interconnected East Asia [2] - China will continue to adhere to the principles of good-neighborliness and mutual benefit, injecting new momentum into regional development through its own stable growth [2]

Core Viewpoint - The overall situation of East Asian cooperation is positive, focusing on development and collaboration, despite facing challenges from unilateralism and protectionism [1] Group 1: Key Points on East Asian Cooperation - Wang Yi, the Chinese Foreign Minister, attended multiple foreign ministerial meetings, emphasizing the importance of regional cooperation [1] - China aims to inject new momentum and provide new opportunities for regional development through its own stable growth [1] - The principles of good-neighborliness, mutual benefit, and shared destiny are highlighted as guiding policies for China's engagement in the region [1]

Group 1 - The core viewpoint emphasizes the importance of the 10+3 cooperation mechanism in enhancing crisis response capabilities and promoting economic integration in East Asia, which is seen as a vital region for global development [1][2] - The current overall situation of East Asian cooperation is positive, focusing on development and collaboration, despite facing challenges such as unilateralism and protectionism [1][2] - China proposes four key suggestions for future cooperation, including building a more integrated East Asia, enhancing resilience, fostering innovation, and promoting cultural exchanges [2][3] Group 2 - The first suggestion is to build an integrated East Asia by leveraging the complementary advantages of ASEAN and China, Japan, and South Korea, and to oppose trade barriers that disrupt supply chains [2] - The second suggestion focuses on building a resilient East Asia through improved financial cooperation and the development of a regional currency bond market [2] - The third suggestion aims to foster innovation by seizing opportunities from the new technological and industrial revolutions, with plans for various cooperative initiatives in green technology and digital economy [2][3] - The fourth suggestion emphasizes cultural connectivity through student exchanges and talent development initiatives, which are crucial for strengthening public support for East Asian cooperation [3]