一边重启美国订单的生产，将此前受阻暂停的货物尽快发出；一边加码接单，抓紧完成交易和出货，成 为一些中小微外贸企业这两天的"日常"。 "昨天一下子好多美国单子过来，生产排单紧张起来了。" 5月14日中午，义乌市璟文进出口有限公司总经理吴庆芬在全天接待外国客商的密集安排中，得闲了半 小时。她告诉第一财经，自己这两天处于比较兴奋的状态，周边人也顾不上闲聊，"关税下降的消息一 出，朋友圈都炸掉了，都在说要开干了"。 13日一大早，一位美国老客户下单了30万双袜子。这对吴庆芬而言，是"久违"的来自美国的大订单。在 反复确认之后，她把这个订单转进公司群，开始了后续的工作安排。也就在昨天，他们通过发邮件或打 电话的形式与所有美国客户进行了沟通，"我们说可以重新开始了，客户也让我们加足马力，尽快发 货"。 5月12日，中美发表日内瓦经贸会谈联合声明。美方取消4月对中国商品加征的共计91%的关税，修改对 中国商品加征34%的"对等关税"，其中24%的关税暂停加征90天，保留剩余10%的关税。 抓住90天的窗口期，一边重启美国订单的生产，将此前受阻暂停的货物尽快发出，一边加码接单，抓紧 完成交易和出货，成为一些中小微外贸企业这两 ...

Core Insights - In the first four months of the year, Henan's foreign trade import and export reached 275.77 billion yuan, a year-on-year increase of 29.5%, significantly higher than the national growth rate of 2.4% by 27.1 percentage points, marking a record high for the same period [1] Trade Characteristics - Nearly 60% of the trade was conducted through processing trade and bonded logistics. General trade accounted for 119.29 billion yuan, growing by 19.1%. Processing trade reached 90.78 billion yuan, up 33.6%, while bonded logistics grew by 46.7% to 64.49 billion yuan. Together, these two methods accounted for 155.27 billion yuan, a growth of 38.7%, representing 56.3% of total trade, an increase of 3.7 percentage points [2] - The number of foreign trade enterprises with import and export performance exceeded 10,000, with foreign-invested enterprises showing the fastest growth rate. There were 10,400 foreign trade enterprises, an increase of 10.9% year-on-year, with 358 enterprises having import and export values exceeding 50 million yuan, accounting for 85.4% of the province's foreign trade [2] Market Performance - Henan's trade with ASEAN and the EU grew rapidly. Trade with ASEAN reached 35.25 billion yuan, up 11%, and with the EU at 32.97 billion yuan, up 19.2%. Trade with Japan surged by 166.8% to 19.96 billion yuan. Trade with Belt and Road countries totaled 131.54 billion yuan, a growth of 18.5%, accounting for 47.7% of total trade [3] Export and Import Products - Mechanical and electrical products accounted for over 60% of exports. Exports of mechanical and electrical products reached 121.68 billion yuan, growing by 68.6%, making up 64.7% of total exports. Labor-intensive products saw exports of 9.78 billion yuan, up 0.2%, while agricultural products reached 5.08 billion yuan, growing by 24.3% [3] - Imports of non-rolled copper and copper materials, agricultural products, and crude oil saw significant growth. Imports of mechanical and electrical products were 47.64 billion yuan, up 8.7%. Agricultural product imports reached 5.23 billion yuan, growing by 31.9%, while non-rolled copper and copper materials surged by 179.1% to 3.48 billion yuan, and crude oil imports increased by 38.7% to 3.24 billion yuan [3] Regional Growth - The growth momentum of Henan's foreign trade is strong, with 13 cities achieving positive growth. Zhengzhou's growth of 44.6% boosted the province's overall foreign trade growth by 26.9 percentage points [3]

进出口商品结构持续优化。出口方面，前4个月，纺织服装、鞋类等劳动密集型产品、机电产品分别出 口270.1亿元、110.9亿元，分别占泉州市外贸出口总值的47.7%、19.6%。其中，食品、花岗岩石材、陶 瓷、雨伞分别出口24.2亿元、18.4亿元、16.7亿元、7亿元，分别增长4.1%、6.2%、30.1%、8.5%。进口 方面，前4个月，原油进口165.9亿元，占泉州市外贸进口总值的71.9%。此外，进口消费品、食用水产 品分别为7.6亿元、3.2亿元，分别增长21%、64.2%。（泉州晚报融媒体记者刘文艳 通讯员胡林冀 黄忠 族） 在石湖港区，一艘外贸集装箱船舶到港（林劲峰 摄） 民营企业发挥"主力军"作用明显。前4个月，泉州市民营企业进出口499.6亿元，占62.7%；国有企业进 出口66.5亿元，增长9.1%，占8.4%。 对共建"一带一路"国家进出口占比超七成。前4个月，泉州市对东盟、欧盟、美国分别进出口189.7亿 元、78.3亿元、76.7亿元，合计占泉州市外贸总值的43.3%；对共建"一带一路"国家进出口566.6亿元， 占71.1%；此外，对沙特阿拉伯、伊拉克、越南、韩国进出口分别为124. ...

Group 1 - Yunnan Province is implementing a series of policies to enhance foreign trade, including 35 practical measures aimed at promoting sustained growth in import and export activities [1][3] - In the first four months of this year, Yunnan's foreign trade import and export reached 78.91 billion yuan, an increase of 2.1%, with trade relations established with 178 countries and regions, 17 more than the same period last year [3] - The policies focus on strengthening the border trade sector by innovating customs declaration methods, enhancing market participant training, and supporting local processing enterprises through various incentives [3][4] Group 2 - The customs authority is committed to supporting the development of open platforms and specialty industries, including establishing a "green channel" for the import of high-quality agricultural products from neighboring countries [4] - Efforts will be made to facilitate the entry of high-quality agricultural products from countries like Laos and Thailand, including the operation of cold chain special trains for fruit imports [4] - The customs will also work on optimizing the business environment at ports and promoting the convenience of cross-border trade [4]

以下文章来源于出海潜望 ，作者周月明 出海潜望 . 挖掘出海故事，助力企业全球化。来吧！一起去全世界逐浪 此次降关税对出口企业无疑是重大利好，但这种缓和能持续多久？双方表示将建立经贸磋商机制，由中国国务院副总理何立峰与美国财政部长贝森特 及贸易代表格里尔牵头，定期或不定期在中美两国或第三国举行磋商。这种制度化沟通机制是否意味着中美贸易关系正在寻求更加稳定的平衡点？在 全球供应链重组的大趋势下，这90天的"关税假期"能否成为确定性回归的信号？ 惊心四月 "布局美国的传统外贸公司，九成订单都停摆了。无论是大公司还是中小企业。"在美对华关税升至145%时，某资深业内人士曾向虎嗅透露。 回想起4月以来的日子，许多外贸老板仍然心惊。 "这一个多月我们已经丢了快十个柜了。"深圳贸易公司老板李清告诉虎嗅。 出品｜虎嗅商业消费组 作者｜周月明 编辑｜苗正卿 题图｜视觉中国 关税终于谈下来了。 5月12日，中美双方发布《中美日内瓦经贸会谈联合声明》，双方同意互相大幅降低关税水平，美国将把对中国商品的关税从145%暂时降低至30%， 中国将把对美国进口商品的关税从125%降低至10%。美国财政部长贝森特在记者会上表示，双方已就" ...

齐鲁晚报.齐鲁壹点李自强 前4个月，青岛进出口2911亿元，同比增长3.7%，占同期山东省进出口总值的25.8%。4月当月，青岛进出口799亿元，增长7.5%。前4个 月，民营企业进出口2048.4亿元，增长6.4%，占70.4%。以水路运输方式进出口2574.2亿元，增长6.8%，占88.4%；以航空运输方式进出 口126亿元，下降35.1%，占4.3%。 民营企业占比超七成，国有企业大幅增长。民营企业进出口2048.4亿元，增长6.4%，占70.4%；外商投资企业477.9亿元，下降15.2%，占 16.4%；国有企业382.6亿元，增长20.1%，占13.1%。 水路运输占比近九成。以水路运输方式进出口2574.2亿元，增长6.8%，占88.4%；以航空运输方式进出口126亿元，下降35.1%，占 4.3%。同期，以公路运输、铁路运输方式分别进出口78.4亿、47.8亿元，分别下降19.2%、增长15.2%。 对共建"一带一路"国家进出口占比近六成。对东盟、韩国、俄罗斯分别进出口462.7亿元、210.4亿元、187.9亿元，分别增长10.3%、 5.2%、36.4%。同期，对共建"一带一路"国家进出口 ...

Core Viewpoint - The 137th China Import and Export Fair (Canton Fair) successfully concluded, showcasing China's commitment to maintaining global trade order amidst U.S. tariff challenges, with over 280,000 foreign buyers attending, a 17.3% increase compared to the previous session [1][3]. Group 1: Event Overview - The Canton Fair lasted for 20 days and attracted over 280,000 foreign buyers from 219 countries and regions, marking a historical high in attendance [1]. - The fair featured approximately 31,000 participating enterprises, with nearly 900 more than the previous session, indicating sustained interest and participation [3]. - The total intended export transactions reached $25.44 billion, reflecting a 3% year-on-year increase, with 60% of buyers coming from Belt and Road Initiative countries [1]. Group 2: Economic Implications - The fair's success is seen as a positive indicator of global business confidence in China's economic prospects, providing a "strong boost" to China's foreign trade development [3]. - China's goods trade in the first quarter reached 10.3 trillion yuan, a 1.3% year-on-year increase, with a notable recovery in monthly growth rates [3]. - Experts suggest that the fair's growth in transaction volume indicates a shift towards emerging markets for Chinese exports, reducing reliance on the U.S. market [4]. Group 3: Regional Cooperation - The recent ASEAN+3 finance ministers' meeting highlighted the importance of regional financial cooperation to address global uncertainties, with China expressing willingness to deepen collaboration [4][7]. - The Chiang Mai Initiative Multilateralization mechanism, discussed at the meeting, has a currency swap capacity of $240 billion, aimed at providing support during financial crises and emergencies [7].

Economic Performance - Zhejiang Province reported a GDP growth rate of 6.0% in the first quarter, exceeding expectations and demonstrating resilience amid uncertainties from the "tariff war" with the U.S. [1] - The province's import and export volume increased by 7.3% year-on-year, contributing 66.4% to the national growth, with exports rising by 11.1% [1][2] Domestic Demand - Domestic demand is recovering, serving as a necessary counterbalance to external risks and aligning with the goal of building a "dual circulation" development pattern [2] - Consumer spending has shown signs of recovery, with per capita tourism spending during the Spring Festival reaching 1455 yuan, the highest in recent years [2] - The film box office and ticket sales during the Spring Festival increased by 45.3% and 40.5% year-on-year, indicating a resurgence in social consumption [2] - Project investment grew by 11.5% in the first quarter, with nearly 70% of new projects from the 1364 major projects initiated [2] Innovation and Technology - The potential for innovation is a key factor in economic resilience, with high-tech manufacturing investment growing by 12.1% in the first quarter [3] - Investment in manufacturing technology upgrades and equipment purchases increased by 15.9% and 9.2%, respectively [3] External Environment - The external economic environment remains complex, with the IMF projecting global economic growth at 2.8% and trade growth at 1.7% for 2025, both down from previous forecasts [3] - The "tariff war" is expected to persist, necessitating strategic responses to mitigate risks and stabilize economic growth [3] Policy Recommendations - Emphasis on stabilizing enterprises and exports through personalized support policies and increased financial assistance for foreign trade companies [4] - Encouragement of domestic consumption and investment in public services and employment to stimulate economic activity [4] - Focus on promoting new consumption trends and enhancing logistics infrastructure to support retail [4] Long-term Strategy - The strategy includes advancing technological innovation and fostering a self-reliant economy through initiatives like the "Artificial Intelligence+" action plan [5] - High-level openness is prioritized, with plans to leverage free trade zones and pilot cities to align with international trade standards [5]

证券研究报告·行业跟踪周报·商贸零售 商贸零售行业跟踪周报 4 月我国出口额超预期，关注非美出口核心 标的小商品城 增持（维持） [Table_Tag] [投资要点 Table_Summary] 2025 年 05 月 12 日 证券分析师 吴劲草 执业证书：S0600520090006 wujc@dwzq.com.cn 证券分析师 石旖瑄 执业证书：S0600522040001 shiyx@dwzq.com.cn 执业证书：S0600520120002 zhangjx@dwzq.com.cn 证券分析师 阳靖 执业证书：S0600523020005 yangjing@dwzq.com.cn 证券分析师 郗越 执业证书：S0600524080008 xiy@dwzq.com.cn 研究助理 王琳婧 执业证书：S0600123070017 wanglj@dwzq.com.cn 行业走势 -18% -12% -6% 0% 6% 12% 18% 24% 30% 36% 42% 5/13/2024 9/10/2024 1/8/2025 5/8/2025 商贸零售 沪深300 相关研究 《酒店集团业绩显著复苏，24 年 ...

近年来，我国积极构建多元化市场，深化与各方的产业链供应链合作。同时，中国内需市场广阔，是重 要的大后方。 作为自美国发起"对等关税"以来的首份中国外贸成绩单，4月份我国的进出口数据备受市场关注。 海关总署于5月9日发布的数据显示，2025年前4个月，我国货物贸易进出口总值14.14万亿元人民币，同 比（下同）增长2.4%。其中，出口8.39万亿元，增长7.5%；进口5.75万亿元，下降4.2%。 以美元计价，4月份我国货物贸易出口额同比增长8.1%。其中，4月对美出口下降21%，增速较上个月低 30.1个百分点。而与之对应的，对非美地区出口同比增长13%，其中，对东盟增长20.8%。 这份外贸成绩单，凸显出中国制造的韧性和趋势变化。东方金诚宏观研究发展部执行总监冯琳认为，4 月我国出口同比增速回落，主要缘于关税战冲击下，当月对美出口大幅下降。而上年同期高基数也有一 定下拉作用。不过，她表示，4月出口仍然保持较高正增长，超出市场预期。这主要归结于三个原因： 一是4月我国对美国之外的其他市场存在"抢出口"现象；二是外需仍有一定韧性；三是4月中美超高关税 主要在中下旬执行，且存在部分商品豁免，对整体出口的冲击作用受 ...