BEIJING, Jan. 13 (Xinhua) -- In a year marked by robust economic growth, China's foreign trade soared to a new pinnacle in 2024, reaffirming its dominant position in global goods trade.

The General Administration of Customs (GAC) reported on Monday that the total value of China’s imports and exports climbed to an unprecedented 43.85 trillion yuan (approximately 6.1 trillion U.S. dollars), reflecting a 5 percent increase over the previous year.

Exports played a significant role in this growth, rising by 7.1 percent to reach 25.45 trillion yuan.

Imports also posted a substantial increase, expanding by 2.3 percent to 18.39 trillion yuan.

Wang Lingjun, deputy head of the GAC, highlighted at a Beijing press conference that China's foreign trade experienced rapid growth relative to major global economies in 2024.

"China's foreign trade has concluded the year 2024 with a successful ending," remarked Wang, noting that December alone saw imports and exports surpass the 4 trillion yuan mark, a monthly record bolstered by a 6.8 percent year-on-year increase.

The fourth quarter saw foreign trade skyrocket to 11.51 trillion yuan, with an uptick in growth rate compared to the preceding quarter.

China’s prominence as the top global goods trader was bolstered further, with its exports and imports representing 14.5 percent and 10.5 percent of global totals respectively during the first three quarters of the year, according to World Trade Organization data.

This was a notable year-on-year increase of 0.3 and 0.1 percentage points, Wang noted.

The impressive foreign trade results stemmed from a series of proactive policies employed by the central authorities to stabilize trade.

Among these initiatives were 16 measures designed to optimize port business environments and streamline customs procedures across 20 cities.

Upgraded Exports and Growing Imports

The enhancement of export and import product structures in 2024 was another highlight.

High-tech goods, including electric vehicles, 3D printers, and industrial robots, saw notable export growth, with machinery exports climbing 8.7 percent to account for 59.4 percent of total exports.

Cross-border e-commerce also flourished, reaching a cumulative 2.63 trillion yuan, up by 1 trillion yuan compared to 2020.

China advanced in green trade as well, with exports of green energy products like solar and wind equipment witnessing rapid growth.

Lyu Daliang from the GAC emphasized contributions to global climate efforts through the trade of electric transportation innovations, and a significant surge in exports of electric vehicles, motorcycles, and bicycles.

Imports of electronic components, semiconductor manufacturing equipment, and computer parts also demonstrated robust growth.

Despite reduced commodity import prices, which curbed import growth due to falling crude oil and iron ore prices, China actively expanded import opportunities through zero-tariff treatments and partnerships with the least-developed countries.

Expanding Global Partnerships

Wang indicated that China has solidified its position as a primary trading partner for more than 150 countries and regions worldwide.

2024 saw a significant expansion in trade with countries involved in the Belt and Road Initiative, accounting for over 50 percent of China’s total trade for the first time.

Collaborations with ASEAN countries reinforced China and ASEAN as each other's largest trading partners, while strategic economic ties with BRICS members also grew stronger.

Traditional markets like the EU and the United States saw continued trade growth, enhancing China’s global trade footprint.

China’s comprehensive approach to foreign trade, characterized by diverse markets and an adaptable product lineup, positioned its export activities for resilience amidst an evolving international commerce landscape.