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According to data from the National Bureau of Statistics, the total import and export volume of goods in China in October was 370.07 billion yuan, a year-on-year increase of 4.6%, an acceleration of 3.9 percentage points from the previous month, with exports growing by 11.2%. From January to October, the total import and export volume of goods was 3.60219 trillion yuan, a year-on-year increase of 5.2%, of which exports increased by 6.7% and imports increased by 3.2%. The rapid growth of import and export of goods not only reflects China's solid progress towards high-quality development, but also highlights the vitality and resilience of the foreign trade field.
The diversification of foreign trade modes is further evident. At present, emerging trade modes such as green trade and digital trade are flourishing in China. According to the "China Green Trade Development Report 2023", the scale of China's green trade has maintained a growth trend in recent years, with an average annual growth rate of 3.18% from 2013 to 2022, and an increase of 2.3 percentage points in its global share. Currently, China has made significant progress in high-end manufacturing and cutting-edge technology research and development, especially in areas such as new energy vehicles, actively exploring overseas markets based on its production capacity and industrial system advantages. At the same time, rapidly developing digital trade has become one of the three pillars of foreign trade. China has promoted cross-border e-commerce as a new driving force for foreign trade growth through measures such as establishing comprehensive pilot zones for cross-border e-commerce and continuously innovating cross-border e-commerce customs clearance supervision.
The further improvement of the business environment provides strong support for investment and import and export growth. Policy support and market vitality are important factors driving the growth of foreign trade, and private enterprises and foreign-invested enterprises play an extremely important role in import and export. The Chinese government has introduced a series of policies and measures to stabilize foreign trade, including tax and fee reductions, optimizing the business environment, and increasing financial support, effectively stimulating the development vitality of foreign trade enterprises. On November 8th, the executive meeting of the State Council approved the "Several Policy Measures to Promote Stable Growth of Foreign Trade". The Ministry of Commerce stated that it will, in accordance with the deployment of the next stage of foreign trade work made at the meeting, work with relevant parties to increase financial support, expand the scale and coverage of export credit insurance, increase financing support for small and medium-sized foreign trade enterprises, and enhance the service guarantee capability for enterprises to explore international markets. At the same time, the continuously optimized business environment has injected confidence and vitality into foreign-invested enterprises' investment and operation in China, becoming an important driving force for China's foreign trade growth.
The concept of mutual benefit and common development in foreign trade has deeply penetrated people's hearts, injecting strong confidence into China's foreign trade. Despite the overall sluggish global trade and the increasing impact of geopolitical and security factors on the economy, China's foreign trade still maintains positive growth. Especially in the face of challenges such as international trade frictions and trade protectionism, we have always insisted on resolving disputes through the WTO procedures, firmly safeguarding the interests of Chinese enterprises, and demonstrating strong resilience and risk management capabilities. At the same time, the joint construction of the "the Belt and Road" has increased trade and investment opportunities between China and countries along the Belt and Road, optimized the industrial chain and supply chain through infrastructure cooperation, provided enterprises with rich market opportunities, enhanced the exchange opportunities of Chinese and foreign enterprises, and improved China's competitiveness in global trade. In the future, Chinese enterprises need to further enhance their level of intelligent manufacturing, form new international competitive advantages, and move towards the high-end of the global value chain.
China's foreign trade maintains vitality and resilience in a complex and ever-changing international environment, providing a solid foundation for foreign trade growth through diversified trade methods and continuously improving risk response capabilities. In the future, we will continue to promote high-quality development of foreign trade, actively participate in global trade cooperation, continue to build an open economy, and make positive contributions to the stabilization and recovery of the global economy.