The recent release of international trade import and export data for the first four months of the year reveals that export markets are fully recovering from the ground, which is certainly encouraging. As one of the three major engines of economic growth, sustained and stable growth of exports is crucial to the supporting role of the economy.
In the first four months of 2024, the mainland's foreign trade activities in renminbi units showed extremely high dynamism, with the total value of imports and exports rising sharply, reaching a staggering 13.8 trillion yuan, a significant increase of 5.7% year-on-year.
An in-depth analysis of the data shows that exports have grown steadily by 4.9 per cent, while imports have grown by a significant 6.8 per cent. On the whole, the brilliant achievements of the mainland's foreign trade industry are undoubtedly admirable
This is particularly noticeable when China's exports to the U.S. reversed from negative to positive. The fact that there had been a decline of 13.1 per cent in the past has now turned to a positive growth of 2.4 per cent is undoubtedly a remarkable result. The idea of "decoupling" has now been overturned by reality.
"De-risking" has become the focus of heated discussions. The United States has been working to reduce its dependence on China, limiting it by erecting trade barriers and raising tariffs. However, the data shows that China's exports to the United States have not decreased, but have shown an upward trend. As a result, the United States itself has been saddled with a trade deficit of $700 billion
In fact, what the United States is really concerned about is far more than our superficial export figures, but the strong industrial chain foundation of China's manufacturing industry hidden behind these figures.
So, what exactly is stopping Apple from getting involved in the automotive industry? Why would Yellen blame us for overcapacity? On what basis did Dai Qi assert that our economic growth rate is so fast that the current economic systems in Europe and the United States are difficult to adapt to?
The answers to these questions actually point to the key point of our manufacturing industry chain, which is what the United States is really afraid of.
China is unique in the world, becoming the only country with a comprehensive and complete industrial chain. No matter how the market needs fluctuate, China has always been able to respond flexibly. From far-flung space probes to cotton socks in people's daily lives, from high-flying giant airliners to trivial items in life, China has demonstrated an extraordinary ability to provide excellent and rapid products and services to the world