According to customs statistics, in the first two months of 2024, Chinas total value of goods trade imports and exports reached 6.61 trillion yuan (about 930.86 billion US dollars), a year - on - year increase of 8.7%. This growth data shows the recovery and growth of Chinas trade vitality, especially important during the global economic recovery process.

During this period, Chinas total export value was 3.75 trillion yuan (about 528.01 billion US dollars), a year - on - year increase of 10.3%, while the total import value was 2.86 trillion yuan (about 402.85 billion US dollars), a year - on - year increase of 6.7%. In addition, the trade surplus expanded to 890.87 billion yuan (about 125.16 billion US dollars), with an expansion rate of 23.6%.

It is noteworthy that Chinas general trade import and export continued to grow, and its share of Gross Foreign Trade increased. In the first two months, Chinas general trade import and export reached 4.34 trillion yuan, up 10 percent, representing 65.7 percent of Gross Foreign Trade, up 0.8 percentage points over the same period last year.

In terms of regional trade cooperation, ASEAN continues to remain China’s largest trading partner with a gross trade value of $9932,4 billion, an increase of 8.1 percent, while China’s imports and exports have also shown varying degrees of growth or decline for other major trading partners, including the United States, the EU and South Korea.

It is worth mentioning that both private and state-owned enterprises increased import and export during this period. The gross import and export value of private enterprises reached 3.61 trillion yuan, up 17.7%, representing 54.6% of the gross foreign trade value. The gross import and export value of state-owned enterprises was 1.06 trillion yuan, although the growth rate was low, only 1.7%, but still showed stable trade activity.

In terms of commodity types, mechanical and electrical products still dominate Chinas exports, with exports of $2.22 trillion in the first two months, rising by 11.8%, accounting for 59.1% of the total export value.In addition, exports of labor-intensive products such as clothing, textiles and plastic products also increased significantly.

In addition, China’s imports of commodities, including iron ore sand, crude oil, coal and natural gas, have also increased, reflecting the continued growth of China’s industrial production and energy demand.