知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 数据来源：中国海关，智研咨询整理 数据来源：中国海关，智研咨询整理 相关报告：智研咨询发布的《2025-2031年中国煤炭开采行业供需态势分析及市场运行潜力报告》 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 根据中国海关数据显示：2025年5月中国煤及褐煤进口数量为3604万吨，同比下降17.7%，进口金额为 25.9亿美元，同比下降38.6%，2025年5月中国煤及褐煤出口数量为41万吨，同比增长32.3%，出口金额 为0.65亿美元，同比增长7.6%。 ...

Core Insights - The article highlights a significant narrowing of the trade deficit between China and the U.S. following the Geneva high-level economic talks, with a notable increase in export growth rates and a slight uptick in import growth due to base effects [1][2][3]. Export Analysis - In June 2025, China's total exports reached $325.18 billion, marking a year-on-year increase of 5.8%, which is a 1.0 percentage point rise from the previous month [1][3]. - The decline in exports to the U.S. has significantly reduced, with a year-on-year decrease of 16.13%, an improvement of 18.39 percentage points compared to the previous month [4]. - Exports to ASEAN countries continued to grow rapidly, while traditional export categories saw declines, with integrated circuits and automobiles showing strong growth [5][6]. Import Analysis - China's total imports in June 2025 amounted to $210.41 billion, reflecting a year-on-year growth of 1.1%, reversing from negative growth due to base effects [2][6]. - Imports from the U.S. decreased by 15.5% year-on-year, but this decline was 2.6 percentage points less than the previous month [2][6]. - The import growth rates from Japan and ASEAN were positive, while imports from traditional bulk commodities continued to face challenges [7]. Future Outlook - The external environment for trade is expected to remain complex and volatile, with potential risks and opportunities for export growth in 2025 [8]. - Domestic economic policies aimed at stabilizing the economy are anticipated to support a gradual recovery in import growth, although challenges from the real estate market and global trade barriers may persist [8].

Core Insights - In the first half of the year, Shaanxi's total import and export value reached 244.51 billion yuan, marking a year-on-year increase of 7.5% [1] - Exports amounted to 170.53 billion yuan, up 10.6% year-on-year, while imports were 73.98 billion yuan, reflecting a 1.1% increase [1] - The growth rate of general trade imports and exports in Shaanxi exceeded the overall growth by 11.7 percentage points [1] Trade Composition - Processing trade accounted for 44.3% of the total import and export value, with a total of 108.43 billion yuan [1] - General trade reached 98.64 billion yuan, growing by 19.2% and representing 40.3% of the total [1] - Bonded logistics contributed 28.65 billion yuan, making up 11.7% of the total [1] Regional Trade Growth - Exports to ASEAN reached 40.07 billion yuan, increasing by 20.9% [1] - Exports to Taiwan surged by 73.8% to 30.35 billion yuan [1] - Exports to the EU grew by 36.4% to 30.13 billion yuan [1] - Trade with countries along the "Belt and Road" totaled 132.37 billion yuan [1] Enterprise Performance - Foreign-invested enterprises reported an import and export value of 141.83 billion yuan, up 13.3% [1] - State-owned enterprises saw a 21.1% increase in import and export value, totaling 16.91 billion yuan [1] - Private enterprises had an import and export value of 85.04 billion yuan [1] Product Export and Import Details - Mechanical and electrical products exports reached 146.51 billion yuan, accounting for 85.9% of total exports [2] - Integrated circuits exports were 61.23 billion yuan, up 8.7% [2] - Automotive exports increased by 51.7% to 31.22 billion yuan [2] - Major imports included integrated circuits at 32.18 billion yuan and semiconductor manufacturing equipment at 3.75 billion yuan, which saw a 125.2% increase [2] - Iron ore imports rose by 45% to 6.377 million tons, while coal imports increased by 58.4% to 3.93 million tons [2]

Core Insights - The General Administration of Customs reported that China's coal and lignite imports reached 221.702 million tons from January to June [1] Group 1 - The total import volume of coal and lignite indicates a significant demand for these energy resources in China [1]

Core Viewpoint - In June, China's coal and lignite imports totaled 33.037 million tons, a decrease from 36.04 million tons in May [1] Group 1 - China's coal and lignite imports in June were 33.037 million tons [1] - The imports in May were recorded at 36.04 million tons, indicating a decline [1]

Core Insights - In June, China's crude oil imports reached 4,988.8 million tons, with a cumulative import of 27,938.6 million tons from January to June, reflecting a year-on-year increase of 1.4% [1] - In June, refined oil exports totaled 533.5 million tons, while the cumulative refined oil exports from January to June were 2,718.6 million tons, showing a year-on-year decline of 9.7% [1] - In June, refined oil imports amounted to 338.2 million tons, with a cumulative import of 1,936.1 million tons from January to June, indicating a year-on-year decrease of 21.9% [1] - In June, coal and lignite imports were 3,303.7 million tons, with a cumulative import of 22,170.2 million tons from January to June, reflecting a year-on-year decline of 11.1% [1] - In June, natural gas imports reached 1,054.5 million tons, with a cumulative import of 5,955.0 million tons from January to June, showing a year-on-year decrease of 7.8% [1]

Core Insights - The Regional Comprehensive Economic Partnership (RCEP) has significantly boosted trade between Fujian Province and other member countries since its implementation in January 2022, with total trade value reaching 2 trillion yuan by the end of 2024 [1][2] Group 1: Trade Performance - From January 2022 to December 2024, Fujian's total import and export value with RCEP countries reached 2 trillion yuan, increasing from 635.73 billion yuan in 2021 to 700.68 billion yuan in 2024 [1] - In the first five months of this year, Fujian's trade volume with RCEP countries was 251.16 billion yuan, accounting for 33.3% of the province's total import and export value, with exports at 136.2 billion yuan and imports at 114.96 billion yuan [1] Group 2: Contribution of Enterprises - Private enterprises play a crucial role, accounting for 60% of Fujian's trade with RCEP countries, with a total import and export value of 152.25 billion yuan in the first five months of this year [1] - Foreign-invested enterprises contributed 48.41 billion yuan, showing a year-on-year growth of 3.9%, while state-owned enterprises accounted for 20% with 50.29 billion yuan [1] Group 3: Product Categories - Mechanical and labor-intensive products are the main exports from Fujian to RCEP countries, with mechanical products valued at 53.67 billion yuan, making up 39.4% of total exports [2] - Notable exports include ships and lithium-ion batteries, with exports of 2.42 billion yuan and 4.55 billion yuan respectively, representing year-on-year growth of 270% and 36.1% [2] Group 4: Import Dynamics - Imports are primarily driven by bulk commodities, with a total import value of 47.65 billion yuan from RCEP countries, accounting for 41.4% of total imports [2] - Key imports include iron ore and coal, valued at 20.71 billion yuan and 11.9 billion yuan respectively, together making up 28.4% of total imports [2]

从出口国别看，对美出口增速降幅连续扩大，对东盟、欧盟出口增速较快。分地区看，5月中国对美国 出口增速大幅下滑至-34.5%，降幅较上月大幅扩大13.5个百分点，美国在中国出口比重下滑至9.1%。 （原标题：袁海霞 ：出口韧性犹存 关税博弈下需多策并举稳外贸） 2025年5月中国进出口总金额5289.8亿美元，同比增长1.3%。其中，出口金额3161亿美元，同比增长 4.8%；进口金额2128.8亿美元，同比-3.4%；贸易顺差为1032.2亿美元，同比增长26.86%。1—5月，中 国进出口总额累计同比增长1.3%，其中，出口累计同比增长6%，进口累计同比下降4.9%。 中诚信国际研究院院长袁海霞表示，5月"抢出口"退坡，出口增速有所放缓但仍强于季节性，出口韧性 仍存。 5月中国出口金额3161亿元，同比增长4.8%，分别较上月和去年同期下降3.3和2.6个百分点。原因有 二：一是"抢转口"减弱，5月对东盟出口增速较上月下降近6个百分点，中美关税大幅下降下"抢转口"必 要性减弱；二是中美贸易谈判取得超预期进展，一定程度上稳定了市场预期，"抢出口"必要性下降。从 高频数据看，截至5月25日当周，中国监测港口集装 ...

Export Performance - In May 2025, China's total export value reached $316.1 billion, with a year-on-year growth of 4.8%, down 3.3 percentage points from the previous month[7] - Exports to the United States saw a significant decline, with a year-on-year drop of 30.7%, worsening by 11.5 percentage points compared to April[7] - High-tech products, including integrated circuits and automobiles, showed notable growth, with integrated circuit exports increasing by 33.4% year-on-year[19] Import Performance - In May 2025, China's total import value was $212.9 billion, reflecting a year-on-year decrease of 3.4%, a decline of 3.2 percentage points from the previous month[20] - Imports from the United States decreased by 18.13%, while imports from the European Union saw a marginal decline of 0.05%[20] - The demand for traditional bulk commodities continued to decline, with iron ore and crude oil imports showing negative growth rates of -5.2% and 0.3%, respectively[21] Trade Balance - The trade surplus for May 2025 was $103.2 billion, indicating a decrease from the previous month's surplus of $106.8 billion[7] - The overall trade volume in May 2025 was $528.98 billion, representing a year-on-year growth of 1.3%[7] Future Outlook - The external environment is expected to remain complex, with potential risks and opportunities for trade growth in 2025[23] - Domestic economic policies aimed at stabilizing growth may support a gradual recovery in import growth, despite ongoing challenges in the real estate market[23]

Core Insights - In May 2025, China's exports showed resilience with a year-on-year growth of 4.8% in USD terms, while imports declined by 3.4%, resulting in a trade surplus of $103.22 billion [1] - The trade dynamics indicate a shift towards emerging markets, with ASEAN and Latin America becoming key partners, while exports to the US saw a significant decline of 34.5% year-on-year in May [1][4] - The export structure is improving, with high-end manufacturing products gaining competitiveness, particularly in the semiconductor and transportation equipment sectors [5][6] Trade Performance - Exports to Europe and ASEAN markets were strong, with the EU seeing a 12.0% year-on-year increase and ASEAN exports growing by 14.8%, particularly to Vietnam and Thailand [1][4] - The shipbuilding industry experienced a notable growth of 43.7% in May 2025, supported by global demand and enhanced competitiveness [2] - Labor-intensive products faced pressure, with declines in categories such as bags, textiles, and toys due to the impact of US tariffs [2] Import Dynamics - Domestic manufacturing remains weak, with a marginal improvement in May 2025 due to US-China trade negotiations, but still below the growth line [3] - Imports of semiconductors and machinery increased by 6%, with significant growth in integrated circuits (33.4%) and data processing equipment [3] - Major bulk commodity imports like soybeans increased by 22.5%, while others like iron ore and crude oil saw declines exceeding 10% [3] Trade Diversification - The share of emerging markets in China's exports is rising, with the US share dropping from 14.7% in 2024 to 12% in the first five months of 2025, while ASEAN's share increased to 17.8% [4] - China's trade relationships with ASEAN are strengthening, supported by initiatives like the Belt and Road Initiative and RCEP [4] Future Outlook - The overall export resilience is expected to be supported by emerging market demand and stable relations with the EU, despite ongoing uncertainties from US tariff policies [6] - The high-end manufacturing sector's transformation is anticipated to enhance international competitiveness, with an expected export growth rate of 2% to 3% for the year [6]