Xing Huina:

The floor is now open for questions. Please identify the news outlet you represent before raising your questions.

CMG:

During your introduction, you described China's foreign trade as larger in size, more optimized in structure, and stronger in vitality since the 18th CPC National Congress in 2012. Could you further elaborate on this? How should we understand the high-quality development of China's foreign trade? Thank you.

Zhao Zenglian:

Thank you for your question. China's foreign trade volume has grown remarkably since the 18th CPC National Congress in 2012. By 2023, the total value of imports and exports increased by over 17 trillion yuan ($2.34 trillion) compared to 2012 – a figure comparable to the annual trade volume of a leading global trade nation. During the same period, the total volume of goods under customs supervision also grew by 54.5%. As we enter the new era, the focus has shifted toward high-quality development as China's foreign trade continues to expand. I'd like to elaborate on this by focusing on the following aspects:

First, innovation has strengthened the foundation of China's foreign trade development. In 2023, exports of high-tech products increased by 6% year on year, comprising 18.7% of total export value. Independent and innovative brands have enabled Chinese products to gain rising popularity overseas, ranging from traditional horse-faced skirts to multifunctional electronic products. Independently branded product exports grew by 9.3% in 2023, accounting for 21% of overall exports. 

Moreover, sustainability has become a hallmark of China's high-quality foreign trade development. Four of every 10 exported cars are electric, seven of every 10 exported railway locomotives are electric, and nearly 90% of exported batteries are lithium-ion. These figures demonstrate the sustainable nature of China's exports.

Recently, some have made exaggerated claims about supposed "overcapacity" in China's new energy industry. This is actually a false proposition that neither aligns with reality nor conforms to the laws of economic development. Take new energy vehicles, for example. The International Energy Agency estimates global electric vehicle (EV) sales will reach about 45 million units by the end of 2030. This figure is three times the global EV sales volume and five times China's EV production volume in 2023. Far from being in surplus, China's new energy products enrich the global supply of green goods and contribute to the global fight against climate change. The third plenary session of the 20th CPC Central Committee has further specified institutional guarantees for green development. In the future, China's green industry is bound to develop even better.

Third, coordinated regional development has consolidated the foundation of foreign trade. The eastern region remains pivotal to China's foreign trade, with total imports and exports exceeding 30 trillion yuan for three consecutive years. The central and western regions have effectively undertaken the country's industrial transfer, with the share of foreign trade increasing by nearly 7 percentage points. The three northeastern provinces have seen expanded foreign trade, with a growth rate nearly 1.6 percentage points faster than the national average. The Beijing-Tianjin-Hebei region, the Yangtze River Delta, the Guangdong-Hong Kong-Macao Greater Bay Area and other major regional development strategies have become the main driving force of foreign trade, contributing nearly 60% of foreign trade growth since the 18th CPC National Congress in 2012.

China's pursuit of high-quality development has also provided our global trading partners with extensive market opportunities. The customs authorities have steadfastly implemented strategies to increase imports, expanding market access in an orderly manner. At present, more than 500,000 foreign companies are now registered with the GACC to import food and agricultural products. Since the 18th CPC National Congress, our country has seen its cumulative imports surpass 150 trillion yuan, achieving an average annual growth rate of 4.2%. Notably, there has been rapid growth in imports of consumer goods, including fruits, cosmetics, and maternal and infant products. The fundamental principle I aim to highlight is that the development of foreign trade is not founded on unilateral protectionism but on openness and cooperation that benefit all parties involved. The "small yards with high walls " strategy leads to nothing but self-isolation. The path to prosperity and progressive development inevitably lies in openness and sharing.

Moving forward, in accordance with the arrangements and requirements set forth by the third plenary session of the 20th CPC Central Committee, Chinese customs authorities will work toward new heights in institutional openness, continue to advance innovative policies and regulatory reforms in comprehensive bonded zones, optimize the innovation mechanism for the customs supervisory system in pilot free trade zones, and establish customs regulatory models that meet the demands of new quality productive forces. Our efforts aim to nurture a regulatory environment conducive to new business forms and models, including cross-border e-commerce, overseas warehousing, market procurement, and bonded maintenance. We will also strengthen research into foreign technical measures in trade and fully leverage customs' international cooperation consultation mechanisms. We will strive to eliminate unreasonable foreign technical trade measures, safeguard business entities engaged in foreign trade, and promote the sustainable, high-quality development of foreign trade. Thank you.