China's foreign trade reached an unprecedented 43.85 trillion yuan (approximately $5.98 trillion) in 2024, marking a 5 percent increase from the previous year, according to data released by the General Administration of Customs.

This achievement highlights China's resilience and adaptability in global trade amid shifting economic landscapes.

The year 2024 saw China's exports surpass 25 trillion yuan for the first time, climbing to 25.45 trillion yuan with a 7.1 percent year-on-year increase.

This marks the eighth consecutive year of export growth, underscoring China's strong position in international markets.

Meanwhile, imports rose to 18.39 trillion yuan, a modest increase of 2.3 percent.

A significant factor in this surge was the optimization of China's export product structure.

Electromechanical products saw an 8.7 percent increase, accounting for 59.4 percent of total exports.

The export of high-end equipment displayed remarkable growth, surging over 40 percent.

Noteworthy contributions came from electric vehicles, 3D printers, and industrial robots, with respective growth rates of 13.1 percent, 32.8 percent, and 45.2 percent.

An important development was the increasing role of the Belt and Road Initiative (BRI) in China's trade dynamics.

For the first time, the proportion of trade with BRI countries exceeded 50 percent, with a 6.4 percent rise in imports and exports.

These nations accounted for 50.3 percent of China's total trade figures, with exports increasing by 9.6 percent and imports by 2.7 percent.

China's trade relations with the Association of Southeast Asian Nations (ASEAN) also flourished, making this the ninth consecutive year of growth.

ASEAN has maintained its status as China's largest trading partner for five consecutive years.

Similarly, trade with BRICS countries grew by 5.5 percent.

Traditional markets continued to play an essential role in China's trade.

Trade with the European Union, particularly as China's largest source of consumer goods imports and its primary export market for electromechanical products, increased by 1.6 percent.

Trade with the United States saw a 4.9 percent rise, aligning with broader trade growth trends.

This robust performance was bolstered by a series of policy measures introduced in late September, aimed at stabilizing foreign trade.

These initiatives were instrumental in achieving a record high of 11.51 trillion yuan in trade for the fourth quarter of 2024, marking a 0.4 percentage point improvement over the third quarter.

December alone witnessed imports and exports surpassing 4 trillion yuan for the first time, with a 6.8 percent growth.

Chen Xing, chief macro analyst at Caitong Securities, credited the foreign trade boost to a suite of stimulus policies invigorating domestic demand.

Increased new home sales and a rebound in passenger car sales were notably influential.

Chen forecasts continued growth in China's imports into 2025, anticipating a 5 percent year-on-year rise bolstered by strengthening domestic demand.