The State Council Information Office of China held a press conference on January 13, 2025, titled “Results of China’s High-Quality Economic Development,” where they provided information on China’s foreign trade situation in 2024. Wang Lingjun, Deputy Director of the General Administration of Customs, stated that China’s efforts to boost global trade have yielded positive results. In 2024, countries participating in the “Belt and Road” initiative accounted for 50.3% of China’s total imports and exports. Wang emphasized that trade with these countries had increased by 6.4% compared to the previous year, and that China’s trade with them is expected to continue growing.
Additionally, trade volumes from emerging markets such as ASEAN have played a significant role in China’s foreign trade. China has experienced nine consecutive years of growth in trade with ASEAN, while trade with BRICS countries increased by 5.5%. Trade with Latin America, Africa, and Central Asia also continued to grow. China’s trade with traditional partners like the EU and the US also saw an increase. The EU remains China’s largest source of consumer goods imports, while trade with the US grew by 4.9%.
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