2022 China Trade Reaches New Time High to RMB 42 trillion

2022 China Trade with foreign countries reached a new record, according to the latest data released by the General Administration of Customs (CAG). The data shows that China’s imports and exports reached RMB 42 trillion in 2022, an increase of 7.7% compared to the previous year. In the fourth quarter, the country’s goods in trade reached RMB 11 trillion.

The data also shows that exports rose 10.5% year on year to RMB 24 trillion, while imports increased 4.3% to RMB 18 trillion. China’s cumulative trade in 2022 with its top three trading partners grew respectively 15% to RMB 6 trillion with ASEAN, 5.6% to RMB 5.6 trillion with the EU, and 3.7% to RMB 5 trillion with the US.

China’s trade with countries along the Belt and Road also saw a significant increase, rising 19.4% year on year and accounting for 32.9% of the nation’s total foreign trade, up 3.2 percentage points. The country’s trade with the other 14 Regional Comprehensive Economic Partnership members also increased by 7.5%.

Despite facing a complex global environment, China’s foreign trade has demonstrated strong resilience in the past year. The Commerce Ministry has stated that it will take steps to optimize relevant work in order to stabilize foreign trade orders, give full play to the role of foreign business organizations, and support foreign trade enterprises to participate in overseas exhibitions. Additionally, the ministry will guide relevant departments to give full play to the role of various financial institutions and increase credit support for foreign trade enterprises, especially micro-sized, small and medium-sized ones.

Furthermore, the ministry will help enterprises solve difficulties, make full use of the working mechanism related to stabilizing foreign trade, and promptly understand and promote the resolution of problems faced by enterprises. With these efforts, the ministry aims to ensure that foreign trade continues to grow and reach new heights in the coming year.

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