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According to reports, in the first five months of this year, the total value of Chinese imports and exports was 17.5 trillion yuan, a year-on-year increase of 6.3%. Among them, exports were 9.95 trillion yuan, a year-on-year increase of 6.1%; imports were 7.55 trillion yuan, a year-on-year increase of 6.4%. So far this year, Chinese economic operation has continued to recover and improve, and the positive momentum of foreign trade has continued to consolidate. In May, Chinese imports and exports increased by 8.6% year-on-year, and the monthly growth rate further accelerated.

Customs statistics show that in the first five months, Chinese general trade, processing trade, and bonded logistics imports and exports all increased. Among them, general trade imports and exports were 11.4 trillion yuan, a year-on-year increase of 5.6%, accounting for 65.1% of Chinese total foreign trade; processing trade imports and exports were 3.02 trillion yuan, a year-on-year increase of 1.6%, accounting for 17.3%; Chinese imports and exports in bonded logistics were 2.42 trillion yuan, a year-on-year increase of 16.5%.

In the first five months, ASEAN was China’s largest trading partner, with a total trade value of 2.77 trillion yuan, a year-on-year increase of 10.8%, accounting for 15.8% of Chinese total foreign trade; Chinese total imports and exports to the countries participating in the construction of the "the Belt and Road" were 8.31 trillion yuan, a year-on-year increase of 7.2%.

Customs statistics also show that electromechanical products accounted for nearly 60% of exports, among which automatic data processing equipment and its parts, integrated circuits and automobiles increased in exports. In the first five months, China exported 5.87 trillion yuan of electromechanical products, a year-on-year increase of 7.9%, accounting for 59% of the total export value. Among them, automatic data processing equipment and its parts were 554.46 billion yuan, a year-on-year increase of 9.9%; integrated circuits were 444.73 billion yuan, a year-on-year increase of 25.5%; automobiles were 329.7 billion yuan, a year-on-year increase of 23.8%. Meanwhile, Chinese imports of major commodities such as iron ore, coal, natural gas and soybeans increased.

Source: People's Daily

Established in March 1999, SUMEC International Technology Co. Ltd. is the core backbone of SUMEC Group Corporation, which is subordinate to China National Machinery Industry Corporation (Sinomach). Sinomach is one of the important state-owned backbone enterprises directly managed by the central government and ranked 284th in the world top 500 in 2021.
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