China's foreign trade rises 5% in 2024

China's total foreign trade expanded 5 percent year on year in 2024, reaching a record 43.85 trillion yuan (around $6.1 trillion), according to official data released on Monday. 

Exports grew 7.1 percent year on year to 25.45 trillion yuan, breaking the 25 trillion yuan mark for the first time and maintaining an upward trend for eight straight years. Meanwhile, imports edged up by 2.3 percent from a year earlier to 18.39 trillion yuan, according to the data released by the General Administration of Customs (GAC).

Speaking at a government press conference held in Beijing on Monday, GAC deputy head Wang Lingjun said China's foreign trade growth in 2024 was relatively fast among major economies in the world.

"China has become a major trading partner of more than 150 countries and regions, and the country's circle of friends in foreign trade is getting larger," Wang said.

The official said the structure of import and export products had also been continuously optimized and upgraded last year, with high-tech products reporting good growth numbers and a boom in new types of trade, such as cross-border e-commerce.

He said the country's foreign trade achievements last year did not come easily, adding that they resulted from a raft of timely incremental policies rolled out by the central authorities and measures aimed at stabilizing foreign trade last year.

He said that last year, customs authorities introduced and implemented 16 measures to optimize the business environment at ports and further facilitate the enterprises' ability to clear customs.

He said special actions to promote cross-border trade facilitation were also taken in 20 cities to create a market-oriented, law-based and internationalized first-class port business environment.

(With input from Xinhua)