China's foreign trade reaches record high

The total value of China's foreign trade reached a record high of 43.85 trillion yuan ($5.98 trillion) in 2024, marking a 5 percent year-on-year growth, statistics from the General Administration of Customs showed.

China's exports amounted to 25.45 trillion yuan last year, reflecting a 7.1 percent year-on-year increase, while imports totaled 18.39 trillion yuan, marking a 2.3 percent rise compared to the previous year.

The administration said that China remains the world's largest goods trader. The country has become a major trading partner for over 150 countries and regions.

In terms of quality of trade, China's structure of imported and exported products has been optimized and upgraded, said Wang Lingjun, vice-minister of the GAC.

At a news conference in Beijing, Wang highlighted the encouraging momentum of China's trade growth in high-tech products, noting that exports of self-owned branded products have reached a new record and new business models, such as cross-border e-commerce, have thrived.