According to China Customs statistics, in the first half of 2023, Chinas goods trade import and export gross value first broke 2 trillion yuan, reaching 20.1 trillion yuan, compared to 2.1% growth. This is the first time in history, marking Chinas foreign trade activity showed a positive trend.

However, in June this year, Chinas gross import and export value fell by 6%, to $34883.2 billion, which is the third month since April. Specifically, exports fell by $897.8 billion, which is 8.3% compared; imports fell by $14985.4 billion, which is 2.6% compared; trade surplus was $4912.5 billion. In US dollars, Chinas exports fell by 12.4% compared to June, and imports fell by 6.8% compared to June.

Analysts pointed out that the main reason for negative export growth is, on the one hand, weak external demand has not improved, on the other hand, because the high base figures in the same period last year suppressed export growth in this period.The research report of the National Economic Research Center of the University of Beijing also emphasizes that although the devaluation of the RMB exchange rate in recent months has increased the profit of export enterprises and increased the willingness of foreign customers, but overall, export demand has not improved.

Similarly, the rate of growth of imports has been negative for four consecutive months. Analysts believe that this is mainly due to the slowdown of global economic growth, the fall in commodity prices and price factors formed a drag on imports. In the first half of this year, in dollars, the amount of Chinese imports fell by 6.7% in comparison.

Nevertheless, Chinas foreign trade structure has continued to optimize, with the most obvious growth in general trade import and exports, private enterprises import and exports and new three products.At the same time, Chinas import and exports to the countries along the Belt and Road have increased by 9.8%, up the overall growth rate by 7.7 percentage points, accounting for 34.3% of the total value of import and exports.

At present, due to the high level of inflation in the main developed economies, the continuing geopolitical conflict, the short-term external demand for warming is insufficient, Chinas foreign trade stable growth is still under great pressure, however, given the strong resilience, potential and long-term well-being of the Chinese economy, and the continued implementation of a series of policy measures, China has the confidence, the basis and the condition to import and export stability and quality.