SCIO briefing on China's imports, exports in first 3 quarters of 2025

Nanfang Daily, Nanfang Plus:

In recent years, China's private enterprises have seen rapid growth in imports and exports. Could you elaborate on the key features and highlights of private enterprises' imports and exports during the first three quarters of this year? Thank you.

Wang Jun:

Thank you for your question. In February this year, General Secretary Xi Jinping attended a symposium on private enterprises and delivered an important speech. In May, the Private Sector Promotion Law was officially implemented, effectively boosting the vitality of private enterprises. In the first three quarters, private enterprises saw imports and exports reach 19.16 trillion yuan, up 7.8% year on year, with exports increasing 8.8% and imports rising 5.9%. The characteristics and highlights of private enterprises can be summarized in three aspects.

First, private enterprises are the backbone of stable foreign trade. As of the third quarter this year, private enterprises have posted year-on-year growth in imports and exports for 22 consecutive quarters. Especially this year, although private enterprises have faced severe challenges from a complex external environment, their import and export growth rates have continued to lead. In the first three quarters, they contributed 4.3 percentage points to China's overall foreign trade growth and accounted for 57% of China's total foreign trade value, an increase of 2 percentage points from the same period last year, continuing to maintain their position as China's largest foreign trade segment.

Second, private enterprises are pioneers in expanding markets. In the first three quarters, private enterprises' import and export growth rates with more than 180 countries and regions worldwide outpaced the national level. Exports to emerging markets such as ASEAN, Africa and Central Asia increased 14%, 27.3% and 11.8%, respectively, while growth to traditional markets like the EU and Japan also exceeded the overall level. In addition, private enterprises have actively reaching out to overseas customers, exporting fresh pomelos to New Zealand for the first time and steamed stuffed buns to Honduras, continually expanding export markets for China's specialty agricultural products and traditional food products.

Third, private enterprises are trailblazers in technological innovation. Private enterprises have continued to demonstrate strong innovation capacity, with a steady stream of new achievements emerging and providing fresh growth drivers for foreign trade. In the first three quarters, exports of high-tech products by private enterprises increased by 15.3%, accounting for 54.2% of China's total export value for similar products, up 1.6 percentage points. At present, nearly 80% of China's high-end machine tools, over 70% of lithium batteries, and almost 60% of medical devices are exported by private enterprises. From mega-ships to handheld devices, from industrial equipment to embodied intelligence, private enterprises are present in every sector.

Looking ahead, customs will continue to deepen reforms in clearance procedures, optimize regulatory services and strengthen policy guidance, supporting private enterprises as they expand overseas and helping promote the healthy, high-quality development of the private sector. Thank you.