In 2024, China's foreign trade volume, increment and quality have achieved the "three quantities" of simultaneous increase, mainly showing the characteristics of better structure, more "new" meaning, stronger main body and more partners. Among them, the activity of China's foreign trade subjects continues to increase, and the number of enterprises with import and export performance has reached a record high. Private, foreign and state-owned enterprises have jointly written a new chapter in the high-quality development of China's foreign trade.

Insiders interviewed by our reporter believe that under the opportunity of continuing to promote a high level of opening up in China, the majority of foreign trade entities will further contribute to consolidating the basic disk of China's foreign trade. In the future, we should continue to optimize the business environment, strengthen financing support for foreign trade enterprises, enhance enterprise risk management and response capabilities, and further encourage enterprises to explore diversified markets.

Foreign trade body surging vitality

On the big stage of foreign trade, enterprises play the leading role. The reporter learned from the General Administration of Customs that in 2024, the import and export of private enterprises in China will reach 24.33 trillion yuan, an increase of 8.8% year-on-year, accounting for 55.5% of the total value of China's foreign trade. The number of private enterprises with import and export performance exceeded 600,000 for the first time, reaching 609,000, which continued to inject new forces into the development of foreign trade.

"Against the backdrop of slowing global trade growth, China's private enterprises have not only maintained a high growth rate, but also maintained a more stable position as the main body of foreign trade, showing that the development of China's private economy has shown a basic trend of steady progress and steady improvement." Liu Ying, director of the cooperative research department and researcher of Chongyang Institute for Financial Studies, Renmin University of China, said in an interview with International Business Daily.

Data show that in 2024, the import and export of high-tech products by private enterprises increased by 12.6% year-on-year, and the proportion of the total import and export value of similar products in China increased by 3 percentage points to 48.5%. Among them, the export of high-end equipment such as ships and the import of special equipment such as semiconductor manufacturing equipment all achieved a year-on-year growth of more than 20%. For the first time, private enterprises have become the largest import and export subjects of high-tech products in China, becoming a new force leading innovation and creation.

Liu Ying analyzed that China's private enterprises are gradually increasing investment in research and development and promoting scientific and technological innovation to ensure the autonomy and control of key core technologies, so as to build a global competitive advantage. At the same time, private enterprises have strong flexibility and adaptability, can respond more quickly to market changes, and expand international business and development space through overseas investment, and then continue to enhance the influence of their own brands and international competitiveness. "It will help promote the sustained and rapid development of China's economy, the optimization and upgrading of its industrial structure, and close economic and trade exchanges with countries around the world."

In addition to private enterprises, the import and export of foreign-invested enterprises in 2024 reached 12.8 trillion yuan, an increase of 1.5% year-on-year. The growth rate in the second half was 2.5 percentage points higher than that in the first half. For the whole year, there were more foreign-funded enterprises registered and filed, and the number of enterprises with import and export records increased by more than 1,600 compared with 2023, indicating that China is still a land of opportunities for foreign-funded enterprises. In addition, the import and export of state-owned enterprises totaled 6.61 trillion yuan, playing an important role in the import of grain, energy and other bulk commodities, and continued to play a "stabilizer" role in maintaining the smooth operation of the economy and the market.

Liu Ying said that in the future, under the opportunity of China's continuous promotion of a high level of opening up to the outside world, I believe that the majority of foreign trade entities will further contribute to consolidating the basic plate of China's foreign trade, and provide an inexhaustible power for China's foreign trade this giant ship to sail far.

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