China's economy shows strong vitality as foreign trade improves

Since 2023, the global trade market has faced a serious challenge. The foreign trade of the world's major economies has generally plummeted, putting tremendous pressure on global economic growth. However, in this unfavorable international economic environment, China's foreign trade has risen steadily, showing strong resilience and vitality.

First, let's look at the overall situation of China's foreign trade. According to customs statistics, in the first quarter of 2023, the total value of China's import and export of trade in goods reached 9.47 trillion yuan, a year-on-year increase of 13.4%. Among them, the total value of exports reached RMB 5.65 trillion, up 23.8% year-on-year; the total value of imports reached RMB 3.82 trillion, up 1.6% year-on-year. These figures show that China's foreign trade has maintained a steady growth trend despite the severe global economic situation.

Since 2023, the global trade market has faced a serious challenge. The foreign trade of the world's major economies has generally plummeted, putting tremendous pressure on global economic growth. However, in this unfavorable international economic environment, China's foreign trade has risen steadily, showing strong resilience and vitality. First, let's look at the overall situation of China's foreign trade. According to customs statistics, in the first quarter of 2023, the total value of China's import and export of trade in goods reached 9.47 trillion yuan, a year-on-year increase of 13.4%. Among them, the total value of exports reached RMB 5.65 trillion, up 23.8% year-on-year; the total value of imports reached RMB 3.82 trillion, up 1.6% year-on-year. These figures show that China's foreign trade has maintained a steady growth trend despite the severe global economic situation.

So how is it that China's foreign trade has been able to rise steadily in the global market environment? In my view, this is inextricably linked to a series of proactive policy measures taken by the Chinese government.

First, the Chinese government has increased its support for the construction of the "Belt and Road". By strengthening cooperation with countries along the route and promoting infrastructure construction and connectivity, it has provided broader development space for China's foreign trade. At the same time, China is also actively promoting the construction of the Pilot Free Trade Zone and Hainan Free Trade Port, which provides more policy support and convenient conditions for foreign trade enterprises.

Secondly, the Chinese government has taken a series of measures to promote foreign trade development. For example, it has increased support for small and medium-sized enterprises (SMEs), promoted technological innovation and transformation and upgrading of enterprises, and improved product quality and competitiveness. In addition, China has actively participated in the construction of the multilateral trading system to maintain international trade order and stability.

Finally, I believe that the steady growth of China's foreign trade is also related to China's market potential and industrial restructuring. With the rapid development of China's economy and the improvement of people's living standards, the domestic market's demand for all kinds of commodities is growing, providing more opportunities and impetus for China's foreign trade. At the same time, China is also actively promoting industrial restructuring and upgrading, and has strengthened its support and cultivation of high value-added industries, thus improving the quality and efficiency of its foreign trade.

All in all, the performance of China's foreign trade since 2023 can be said to be bucking the trend and rising steadily. This not only highlights the strength and resilience of China's economy, but also injects new momentum into the stability and development of global trade. As an economist, I believe that the Chinese government's proactive policy measures, market demand and industrial restructuring are important reasons for the steady growth of China's foreign trade. At the same time, we should also see that the global trade situation is still severe, and we need all countries to work together to promote trade balance and development.