China’s Foreign Trade Hits Record High in 2024

China’s foreign trade reached an unprecedented total of 43.85 trillion yuan in 2024, representing a 5 percent year-on-year growth, according to the General Administration of Customs. Exports surged to 25.45 trillion yuan, reflecting a 7.1 percent increase, while imports climbed to 18.39 trillion yuan, marking a 2.3 percent rise from the previous year.

The year marked significant progress in the scale, growth, and quality of China’s foreign trade. The total trade volume grew by more than 2 trillion yuan compared to 2023, a figure equivalent to the annual trade volume of a medium-sized economy. High-tech products led the charge, with exports from Chinese brands reaching new heights.

Additionally, the trade structure has seen notable improvements, with optimized import-export dynamics. Innovative business models, such as cross-border e-commerce, played a pivotal role in driving this growth.

China’s robust foreign trade performance underscores its resilience and adaptability in a dynamic global market, reinforcing its position as a major player in international trade.