China’s foreign trade roared ahead in 2024, with a 5.3% year-on-year increase from January to September, hitting a record 32.33 trillion yuan ($4.44 trillion) . Exports jumped 6.2% to 18.62 trillion yuan, while imports rose 4.1% to 13.71 trillion yuan, powered by rebounding global demand and a resilient domestic economy.
Private companies stole the spotlight , driving 55% of total trade—up 2.1% from 2023—by exporting and importing goods worth 17.78 trillion yuan. The growth confirms China’s role as a global trade powerhouse, even as markets evolve.
Why it matters: Exports to traditional partners (Europe, U.S., Japan) grew 4.2%, while emerging markets like ASEAN (+12.3%) and Latin America (+13.7%) skyrocketed. China traded with over 160 countries and regions, showcasing its expanding influence.
Imports of bulk commodities, including energy products like oil and gas, surged 5%, highlighting China’s insatiable demand to fuel its industries .
Qu Qiang, a researcher at Minzu University’s Belt and Road Research Center, told CGTN that “diversification is key” to China’s trade strategy. He added that the nation’s vast market and economic fundamentals position it for long-term momentum.
With private firms leading the charge and global demand bouncing back, China’s trade engine shows no signs of slowing .
. Exports jumped 6.2% to 18.62 trillion yuan, while imports rose 4.1% to 13.71 trillion yuan, powered by rebounding global demand and a resilient domestic economy.
, driving 55% of total trade—up 2.1% from 2023—by exporting and importing goods worth 17.78 trillion yuan. The growth confirms China’s role as a global trade powerhouse, even as markets evolve.
Why it matters: Exports to traditional partners (Europe, U.S., Japan) grew 4.2%, while emerging markets like ASEAN (+12.3%) and Latin America (+13.7%) skyrocketed. China traded with over 160 countries and regions, showcasing its expanding influence.
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