China’s foreign trade hit a staggering 29.57 trillion yuan ($4.12 trillion) in the first eight months of 2024, marking a 3.5% year-on-year increase, customs data revealed Monday. 🚀 The numbers highlight the country’s resilience amid global economic shifts, with tech exports and regional partnerships driving growth.
ASEAN Takes the Crown 👑 The Association of Southeast Asian Nations (ASEAN) remained China’s top trading partner, with bilateral trade soaring 9.7% to 4.93 trillion yuan. The EU followed at 3.88 trillion yuan (+4.3%), while trade with the U.S. dipped 13.5% to 2.73 trillion yuan. Analysts say the shift reflects deepening ties with Asian neighbors and evolving global supply chains.
Belt and Road Boosts Trade 🌐 Trade with Belt and Road partner countries jumped 5.4% to 15.3 trillion yuan, accounting for over half of China’s total foreign trade. This aligns with Beijing’s push for infrastructure-driven economic collaboration across Asia, Africa, and beyond.
Tech Exports Shine 💡 High-tech industries led the charge: integrated circuit exports surged 23.3%, while auto exports revved up 11.9%. Mechanical and electrical products dominated, making up 60.2% of total exports. Even with global demand fluctuations, China’s tech boom shows no signs of slowing.
