According to data released on the General Administration of Customs official website, from January to May 2025, the total value of China's goods trade imports and exports reached 17.94 trillion yuan RMB, an increase of 2.5% year-on-year (YoY). Among them, exports amounted to 10.67 trillion yuan, growing by 7.2%; imports totaled 7.27 trillion yuan, decreasing by 3.8%.

In May, the total value of China's goods trade imports and exports was 3.81 trillion yuan, increasing by 2.7%. Exports were 2.28 trillion yuan, up by 6.3%; imports were 1.53 trillion yuan, down by 2.1%.

The main characteristics of China's imports and exports in the first five months are as follows:

1. General trade and processing trade imports and exports have grown.

In the first five months, China's general trade imports and exports reached 11.51 trillion yuan, increasing by 0.8%, accounting for 64.2% of China's total foreign trade value. Of this amount, exports were 7.04 trillion yuan, growing by 7%; imports were 4.47 trillion yuan, declining by 7.8%. Meanwhile, processing trade imports and exports amounted to 3.21 trillion yuan, increasing by 6.2%, accounting for 17.9%. Exports under processing trade were 1.99 trillion yuan, growing by 4.5%; imports were 1.22 trillion yuan, increasing by 9.3%. Additionally, imports and exports through bonded logistics amounted to 2.54 trillion yuan, increasing by 5.9%. Exports under this mode were 1.05 trillion yuan, increasing by 15.8%; imports were 1.49 trillion yuan, decreasing by 0.2%.

2. Imports and exports with ASEAN and the EU have increased.

In the first five months, ASEAN was China's largest trading partner, with a total trade value of 3.02 trillion yuan, increasing by 9.1%, accounting for 16.8% of China's total foreign trade value. Among this, exports to ASEAN were 1.9 trillion yuan, increasing by 13.5%; imports from ASEAN were 1.12 trillion yuan, increasing by 2.3%. The EU was China's second-largest trading partner, with a total trade value of 2.3 trillion yuan, increasing by 2.9%, accounting for 12.8%. Among this, exports to the EU were 1.57 trillion yuan, increasing by 7.7%; imports from the EU were 728.33 billion yuan, decreasing by 6.1%. The US was China's third-largest trading partner, with a total trade value of 1.72 trillion yuan, decreasing by 8.1%, accounting for 9.6%. Among this, exports to the US were 1.27 trillion yuan, decreasing by 8.7%; imports from the US were 447.51 billion yuan, decreasing by 6.3%.

During the same period, China's combined imports and exports with countries along the "Belt and Road" initiative amounted to 9.24 trillion yuan, increasing by 4.2%. Among this, exports were 5.34 trillion yuan, increasing by 10.4%; imports were 3.9 trillion yuan, decreasing by 3.2%.

3. Private enterprises and foreign-invested enterprises' imports and exports have grown.

In the first five months, private enterprises' imports and exports amounted to 10.25 trillion yuan, increasing by 7%, accounting for 57.1% of China's total foreign trade value, an increase of 2.4 percentage points compared to the same period last year. Among this, exports were 6.97 trillion yuan, increasing by 8%, accounting for 65.4% of China's total export value; imports were 3.28 trillion yuan, increasing by 4.9%, accounting for 45.1% of China's total import value. During the same period, foreign-invested enterprises' imports and exports amounted to 5.21 trillion yuan, increasing by 2.3%, accounting for 29% of China's total foreign trade value. Among this, exports were 2.88 trillion yuan, increasing by 6%; imports were 2.33 trillion yuan, decreasing by 1.9%. State-owned enterprises' imports and exports amounted to 2.44 trillion yuan, decreasing by 12.7%, accounting for 13.6% of China's total foreign trade value. Among this, exports were 799.4 billion yuan, increasing by 4.3%; imports were 1.64 trillion yuan, decreasing by 19.1%.

4. Machinery and electronic products accounted for 60% of exports, with automatic data processing equipment and parts, integrated circuits, and automobile exports growing.

In the first five months, China's exports of machinery and electronic products amounted to 6.4 trillion yuan, increasing by 9.3%, accounting for 60% of China's total export value. Among this, automatic data processing equipment and parts amounted to 575.23 billion yuan, increasing by 3.9%; integrated circuits amounted to 526.4 billion yuan, increasing by 18.9%; automobiles amounted to 351.37 billion yuan, increasing by 6.6%. During the same period, exports of labor-intensive products amounted to 1.66 trillion yuan, decreasing by 1.5%, accounting for 15.6%. Among this, textile products amounted to 420.14 billion yuan, increasing by 3.7%. Agricultural product exports amounted to 296.09 billion yuan, increasing by 4.7%.

5. Prices of major commodities such as iron ore, crude oil, and coal have fallen, while the value of machinery and electronic product imports has increased.

In the first five months, China imported 486 million tons of iron ore, decreasing by 5.2%, with the average import price per ton being 707.2 yuan, decreasing by 16.4%; crude oil amounted to 230 million tons, increasing by 0.3%, with the average import price per ton being 3864.3 yuan, decreasing by 10.6%; coal amounted to 189 million tons, decreasing by 7.9%, with the average import price per ton being 559 yuan, decreasing by 22.5%; natural gas amounted to 49.053 million tons, decreasing by 9.5%, with the average import price per ton being 3274 yuan, decreasing by 6.8%; soybeans amounted to 37.108 million tons, decreasing by 0.7%, with the average import price per ton being 3233.9 yuan, decreasing by 13.9%; refined oil amounted to 15.98 million tons, decreasing by 26.8%, with the average import price per ton being 4323.2 yuan, decreasing by 0.1%. Additionally, imports of primary form plastics amounted to 11.698 million tons, decreasing by 2.3%, with the average import price per ton being 10,600 yuan, decreasing by 0.8%; unwrought copper and copper materials amounted to 216,900 tons, decreasing by 6.7%, with the average import price per ton being 69,400 yuan, increasing by 6.6%. During the same period, imports of machinery and electronic products amounted to 2.83 trillion yuan, increasing by 6%.

Original article: https://www.toutiao.com/article/7513790792965407242/

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