China's trade surplus first exceeds $1 trillion, U.S. media: milestone, unprecedented
According to the latest data from the General Administration of Customs, China's trade surplus exceeded $1 trillion in the first 11 months of this year.
"This milestone highlights China's leading position in exports across the board, from high-end electric vehicles to low-end T-shirts," said The Wall Street Journal on December 9, "This unprecedented economic historical record is the result of decades of industrial policies and the diligence of the Chinese people, which has helped China's economy rise to become the world's second-largest economy in just a few decades."
The General Administration of Customs announced on August 8 that in the first 11 months of this year, China's foreign trade maintained growth, with a total value of imports and exports of 41.21 trillion yuan, an increase of 3.6%. Among them: exports reached 24.46 trillion yuan, up 6.2%; imports were 16.75 trillion yuan, up 0.2%. This means that in the first 11 months of this year, China's foreign trade surplus exceeded $1 trillion for the first time.
Data also shows that in November, China's foreign trade growth rebounded, with imports and exports reaching 3.9 trillion yuan, up 4.1% year-on-year. Among them, exports reached 2.35 trillion yuan, up 5.7%; imports were 1.55 trillion yuan, up 1.7%.
Reuters noted that in the first 11 months of this year, China's exports to the United States fell 29%, while exports to Europe, Australia, and Southeast Asian countries surged. Among them, exports to the EU increased by 14.8%, exports to Australia surged by 35.8%, and exports to Southeast Asia increased by 8.2%.
The report analyzes that since Trump won the U.S. election last November, China has accelerated its efforts to diversify its export markets, seeking closer trade relations with Southeast Asia and the EU, and establishing new production centers through the global layout of Chinese enterprises. Although current Sino-U.S. trade tensions are relatively eased, the average tariff on Chinese goods in the United States remains high.
The New York Times mentioned that China's trade surplus as a proportion of its economy is even larger than that of the United States in the years following the end of World War II, when most European manufacturing countries were in ruins.
Original article: toutiao.com/article/1851015337512004/
Statement: The article represents the personal views of the author.