Overall speaking, China’s foreign trade performance in April meets expectations. There are three main features.

First, the volume of imports and exports in April reached a record high in the same period, amounting to RMB3.64 trillion, an increase of RMB80 billion from March. Total import and export jumped 8%, with export and import up by 5.1% and 12.2% respectively.

Second, trade with both traditional and emerging markets picked up. In April, driven by factors such as inventory digestion and demand recovery, China’s trade with traditional markets reversed from decline to growth. Trade with the EU and the US went up by 3.3% and 6.2% respectively. At the same time, trade with emerging markets continued to maintain a relatively high growth rate. China’s trade with ASEAN members and Belt and Road partner countries increased by 14.4% and 9% respectively, surpassing the overall average.

Third, machinery and electrical products were the primary contributors to the overall trade growth. Their imports and exports increased by 10.4%, driving a 5.1 percentage point increase in overall trade. The export recovery for electronic information products led to a 20.4% rise in upstream integrated circuit imports.

Global trade as a whole has maintained a slow recovery momentum seen since the fourth quarter of 2023, stabilizing the confidence of foreign trade companies to some extent. A recent MOFCOM survey shows that key foreign trade enterprises have witnessed a consecutive four-month improvement in new orders, with over 80% of Canton Fair exhibitors reporting stable or increased order volumes. At the same time, we must not ignore the risks and challenges. In particular, some countries are pursuing unilateralism and protectionism, which not only elevate trade costs and risk but also disrupt global industrial and supply chains.

Facing these uncertainties, China is committed to promoting high-level opening-up and actively cultivating new drivers of foreign trade. At the same time, we will address the difficulties faced by foreign trade enterprises and assist companies in reducing costs, increasing efficiency, and enhancing international competitiveness. Thank you.