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China's Foreign Trade in 2024: Growth and Challenges
Analysis of China's foreign trade performance in 2024, highlighting growth, challenges, and strategies for sustainable development.
English
China
EconomyChinaTradeInternational TradeGlobal TradeGrowth
General Administration Of CustomsAcademy Of China Council For The Promotion Of International TradeHisense Ronshen (Yangzhou) Refrigerator CoChina Everbright BankMinistry Of Commerce
Lyu DaliangZhao PingMa LiliZhou MaohuaHe YongqianTang Wenhong
- What are the main challenges facing Chinese exporters in 2024?
- Challenges facing Chinese exporters include protectionism, unilateralism, supply chain disruptions, and potential policy shifts in some countries leading to higher tariffs and countervailing duties.
- What factors contributed to the growth of China's foreign trade in 2024?
- The growth is attributed to government policies and increased demand for Chinese electromechanical products, particularly tech-intensive green offerings, driven by global low-carbon initiatives and geopolitical tensions.
- What strategies are Chinese exporters employing to address the challenges in the global market?
- To mitigate these risks, exporters are enhancing product competitiveness, expanding into emerging markets, and focusing on meeting specific customer needs in those markets, as seen in the example of Hisense Ronshen.
- What is China's stance on trade relations with the US and its position on global trade policies?
- China aims to maintain steady foreign trade growth, improve communication with the US to resolve trade differences, and opposes protectionism and decoupling activities to promote stable economic and trade relations.
- What was the year-on-year growth rate of China's foreign trade in the January-October 2024 period?
- China's foreign trade showed a 5.2 percent year-on-year increase to 36.02 trillion yuan ($5.03 trillion) between January and October 2024. Exports rose by 6.7 percent to 20.8 trillion yuan during the same period.