Core Viewpoint - The bonded maintenance import and export volume in Guangdong Province reached 21.77 billion yuan from January to May this year, marking an 8.01% increase compared to the same period last year, highlighting the rapid growth of bonded maintenance as a new foreign trade model and its role in promoting high-quality development of foreign trade [1][2]. Group 1: Industry Development - Bonded maintenance, also known as "global repair," allows companies to utilize customs bonded policies to import damaged goods for inspection and repair before re-exporting them, facilitating better resource allocation and promoting circular economy development [1]. - The Guangdong customs has actively promoted the development of bonded maintenance, enhancing inter-departmental regulatory collaboration and supporting leading enterprises in leveraging bonded maintenance to drive industry chain integration [2]. Group 2: Company Initiatives - VIVO, a well-known smartphone manufacturer, has expanded its overseas market and significantly reduced approval process times for bonded maintenance with the help of customs, enhancing cooperation with global customers and providing new growth opportunities [1]. - Dongguan Depute Electronics Co., a customs AEO-certified enterprise, has seen its bonded maintenance import and export value exceed 300 million USD in 2024, with recent successful exports of 435,000 mobile display modules [2]. Group 3: Future Plans - The Guangdong customs will continue to strengthen support for bonded maintenance, assist eligible enterprises in applying for relevant qualifications, and ensure facilitation of customs clearance, aiming to establish Guangdong as a "global repair center" and enhance its participation in international division of labor [3].

Core Insights - The import and export value of bonded maintenance in Guangdong Province reached 21.77 billion yuan from January to May this year, showing a year-on-year growth of 8.01% [1] - Bonded maintenance, also known as "global repair," is becoming a significant driver for the transformation and upgrading of bonded processing trade, contributing to high-quality foreign trade development [1][3] Group 1: Industry Growth and Trends - Bonded maintenance allows companies to import damaged goods for repair and then re-export them, optimizing global production resource allocation and promoting a circular economy [3] - Leading companies in Guangdong, such as VIVO, are leveraging bonded maintenance to enhance their international competitiveness and expand overseas markets [3] Group 2: Policy Support and Services - The Guangdong Customs system is enhancing cross-departmental collaboration and providing tailored customs facilitation plans to support the bonded maintenance industry [4] - The implementation of innovative customs processes, such as "pre-inspection before declaration," is expected to save companies significant logistics costs and ensure stable business development [4] Group 3: Future Outlook - The Guangdong Customs will continue to strengthen support for bonded maintenance, helping qualified enterprises apply for relevant qualifications and facilitating customs processes [5] - The goal is to establish Guangdong as a "global repair center" and enhance the international competitiveness of the maintenance industry [5]

Core Viewpoint - China's foreign trade shows steady growth in the first four months of the year, with a total import and export value of 14.14 trillion yuan, reflecting a year-on-year increase of 2.4% in yuan terms and 1.3% in dollar terms, indicating a recovery in the economy [1][2]. Trade Performance - In April, China's import and export value reached 3.84 trillion yuan, with a year-on-year growth of 5.6%. Exports saw a slight decline in growth rate to 9.3%, while imports turned from a decline to a growth of 0.8% [1][2]. - The export of mechanical and electrical products increased by 9.5%, accounting for over 60% of total exports. Key products such as automatic data processing equipment, integrated circuits, and automobiles saw growth rates of 5.6%, 14.7%, and 4% respectively [2]. - The import of crude oil increased by 0.5%, while imports of iron ore, coal, natural gas, soybeans, and refined oil saw a decrease, with overall prices (excluding refined oil) declining [2]. Trade Methods and Entities - General trade saw a year-on-year growth of 0.6%, making up 64% of total foreign trade. Processing trade and bonded logistics trade grew by 6.6% and 7% respectively [3]. - Private enterprises accounted for 8.05 trillion yuan in imports and exports, a year-on-year increase of 6.8%, representing 56.9% of total foreign trade, marking a 2.3 percentage point increase from the previous year [3]. - Foreign-invested enterprises experienced a year-on-year growth of 1.9%, accelerating by 1.5 percentage points compared to the first quarter [3]. Trade Partners - Trade with neighboring countries reached 5.1 trillion yuan, a year-on-year increase of 5.1%, with growth accelerating by 1.6 percentage points compared to the first quarter. Notably, trade with ASEAN and Central Asian countries grew by 9.2% and 9.9% respectively [3]. Industry Analysis - The proportion of high-tech industries in exports has increased, enhancing resilience against external pressures such as tariffs. The focus on market diversification and the development of new business models like cross-border e-commerce is crucial for maintaining market share [4]. - The resilience of Chinese exports is attributed to three factors: the increased share of high-tech industries, the dominant role of private enterprises in responding quickly to global market demands, and the proactive expansion into neighboring markets [4].