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Economic Daily Beijing learned from the General Administration of Customs that in the first 11 months of this year, China's total import and export value of goods reached 39.79 trillion yuan, a year-on-year increase of 4.9%. Among them, exports amounted to 23.04 trillion yuan and imports amounted to 16.75 trillion yuan, with year-on-year growth of 6.7% and 2.4% respectively. The overall operation of foreign trade remained stable.
Due to the combined effects of geopolitical conflicts and increased uncertainty and instability, China's foreign trade growth rate slowed down in November, but monthly imports and exports continued to grow for eight consecutive months. In November, China's import and export value was 3.75 trillion yuan, a year-on-year increase of 1.2%, of which exports increased by 5.8% and imports decreased by 4.7%.
From the perspective of trade structure, both general trade and processing trade have achieved growth, and the structure of China's export commodities continues to be optimized. In the first 11 months, the import and export of general trade reached 25.5 trillion yuan, an increase of 3.7%, accounting for 64.1% of China's total foreign trade value; The import and export of processing trade reached 7.22 trillion yuan, an increase of 3.6%, accounting for 18.1%. In addition, the import and export of bonded logistics amounted to 5.64 trillion yuan, an increase of 13%.
From the perspective of trade partners, China has achieved growth in imports and exports to ASEAN, the European Union, the United States, and South Korea. In the first 11 months, ASEAN continued to maintain its position as China's largest trading partner, achieving a total trade value of 6.29 trillion yuan, an increase of 8.6%, accounting for 15.8% of China's total foreign trade value. Over the same period, China's imports and exports to countries jointly building the "the Belt and Road" totaled 18.74 trillion yuan, up 6%.
From the perspective of trading entities, the import and export of private and foreign-funded enterprises have achieved rapid growth. In the first 11 months, there were 682000 foreign trade entities with import and export performance in China. Among them, the import and export of private enterprises increased by 8.7% year-on-year, accounting for 55.3% of China's total foreign trade value, an increase of 2 percentage points from the same period last year, continuing to maintain its position as the largest foreign trade entity in China; Foreign invested enterprises imported and exported 11.67 trillion yuan, an increase of 1.1%, accounting for 29.3% of China's total foreign trade value.
Lv Daliang, Director of the Statistics and Analysis Department of the General Administration of Customs, stated that with the coordinated efforts of stock and increment policies in the foreign trade field, China's foreign trade imports and exports are expected to end smoothly, and the goal of stable quality and quantity improvement throughout the year can be achieved.