Core Insights - The issuance of certificates of origin is a key indicator of foreign trade, with a significant increase in the number of certificates issued in July 2025, reflecting a strong recovery in China's foreign trade [1][2] Group 1: Certificate Issuance Data - In July 2025, the total number of various certificates issued by the national trade promotion system reached 741,700, a year-on-year increase of 10.82% [1] - The non-preferential certificates of origin had a total value of $30.953 billion, with 398,100 certificates issued, marking a 5.13% increase year-on-year [1] - The preferential certificates of origin saw a total value of $8.756 billion, with 276,300 certificates issued, reflecting a substantial year-on-year growth of 39.66% in value and 49.42% in quantity [1] Group 2: Factors Driving Growth - The rapid growth in the issuance of preferential certificates is attributed to companies' efforts to control costs and expand markets, seeking tariff reductions to enhance competitiveness [2] - The favorable policy environment, including the expansion of free trade zones and reduced tariffs with various countries, has also contributed to the increase in the use of preferential certificates [2] - The digitalization and convenience of the online certificate issuance process have further encouraged companies to apply for these certificates [2] Group 3: RCEP Impact - In July, the issuance of RCEP certificates of origin amounted to $747 million, with a year-on-year increase of 26.90%, and the number of certificates issued was 27,065, up 29.73% [3] - The growth in RCEP certificate issuance indicates that trade benefits from RCEP are being realized, providing tangible advantages to foreign trade enterprises [3] - Companies are encouraged to enhance cooperation within the RCEP region, participate in training, and adapt strategies to leverage RCEP policy benefits [3]

Core Insights - China's goods trade maintained a positive momentum in the first seven months of the year, with a total import and export value of 25.7 trillion yuan, a year-on-year increase of 3.5% [1] - In July alone, the import and export value reached 3.91 trillion yuan, growing by 6.7%, marking the highest growth rate of the year [1] - The increase in imports of key raw materials such as metal ores and crude oil indicates robust domestic production activity and rising demand [1] Trade Performance - General trade accounted for 64% of China's total foreign trade, with a value of 16.44 trillion yuan, growing by 2.1% [2] - Trade with ASEAN countries reached 4.29 trillion yuan, a growth of 9.4%, making ASEAN China's largest trading partner [2] - Trade with countries involved in the Belt and Road Initiative totaled 13.29 trillion yuan, increasing by 5.5%, showcasing a diversified trade partnership [2] Company and Sector Contributions - Private enterprises contributed 14.68 trillion yuan to imports and exports, a growth of 7.4%, representing 57.1% of the total [3] - Foreign-invested enterprises had a total trade value of 7.46 trillion yuan, growing by 2.6%, accounting for 29% of foreign trade [3] Structural Optimization - The export of mechanical and electrical products reached 9.18 trillion yuan, growing by 9.3%, and accounted for 60% of total exports [4] - High-tech product exports exceeded 5 trillion yuan, with significant growth in sectors such as high-end machine tools (23.4%) and industrial robots (62.2%) [4] - Labor-intensive product exports decreased by 0.8%, indicating a shift towards high-value and high-tech industries [5] Future Outlook - The expansion of domestic demand is expected to drive import growth, supported by ongoing economic stabilization policies [5] - Despite uncertainties in the external environment, closer economic ties with Belt and Road countries provide strategic depth for stabilizing external demand [5]