According to China customs statistics, 

In 2020, the total value of China’s import and export of goods trade was RMB 32.16 trillion, an increase of 1.9% over 2019.

Among them, exports were 17.93 trillion yuan, an increase of 4%; imports were 14.23 trillion yuan, a decrease of 0.7%; the trade surplus was 3.7 trillion yuan, an increase of 27.4%.

In 2020, China’s export of mechanical and electrical products was 10.66 trillion yuan, an increase of 6%, accounting for 59.4% of the total export value, an increase of 1.1% year-on-year.

Among them, the export of notebook computers, household appliances, medical instruments and equipment increased by 20.4%, 24.2%, and 41.5% respectively. In the same period, the export of seven categories of labor-intensive products such as textiles and garments was 3.58 trillion yuan, an increase of 6.2%, of which textile exports including masks were 1.07 trillion yuan, an increase of 30.4%.

There are 6 characteristics

1. The scale of import and export hit a record high

Starting from June 2020, it has achieved positive growth for 7 consecutive months. The total value of imports and exports and exports for the whole year have both hit a record high, and the international market share has also set a record. It has become the only major economy in the world that has achieved positive growth in goods trade. The status of the largest trade country is further consolidated. According to data published by the WTO and other countries, in the first 10 months of 2020, China’s international market share of imports and exports, exports, and imports reached 12.8%, 14.2%, and 11.5%, respectively, setting record highs.

2. The vitality of foreign trade entities continues to increase

In 2020, there will be 531,000 import and export enterprises, an increase of 6.2%. Among them, the import and export of private enterprises was 14.98 trillion yuan, an increase of 11.1%, accounting for 46.6% of China’s total foreign trade value, an increase of 3.9 percentage points from 2019. The position of the largest foreign trade subject has been consolidated and it has become an important force in stabilizing foreign trade. The import and export of foreign-invested enterprises was 12.44 trillion yuan, accounting for 38.7%. State-owned enterprises import and export 4.61 trillion yuan, accounting for 14.3%.

3. Trading partners become more diversified

In 2020, China’s top five trading partners will be ASEAN, the EU, the United States, Japan, and South Korea. Imports and exports to these trading partners will be 4.74, 4.5, 4.06, 2.2, and 1.97 trillion yuan, an increase of 7%, 5.3%, 8.8%, 1.2% and 0.7%. In addition, China’s imports and exports to countries along the “Belt and Road” were 9.37 trillion yuan, an increase of 1%.

4. Trade methods are more optimized

In 2020, China’s general trade import and export was 19.25 trillion yuan, an increase of 3.4%, accounting for 59.9% of China’s total foreign trade value, an increase of 0.9 percentage points from 2019. Among them, exports were 10.65 trillion yuan, an increase of 6.9%; imports were 8.6 trillion yuan, a decrease of 0.7%. The import and export of processing trade was 7.64 trillion yuan, down 3.9%, accounting for 23.8%.

5. Exports of traditional superior products continue to grow

In 2020, China’s export of mechanical and electrical products was 10.66 trillion yuan, an increase of 6%, accounting for 59.4% of the total export value, a year-on-year increase of 1.1 percentage points. Among them, the export of notebook computers, household appliances, medical instruments and equipment increased by 20.4%, 24.2%, and 41.5% respectively. In the same period, the export of seven categories of labor-intensive products such as textiles and apparel was 3.58 trillion yuan, an increase of 6.2%, of which textile exports including masks were 1.07 trillion yuan, an increase of 30.4%.

6. The export of epidemic prevention materials supports the global fight against the epidemic

China has provided and exported epidemic prevention materials to more than 200 countries and regions around the world. From March 2020 to the end of last year, China Customs inspected and released 438.5 billion yuan worth of major epidemic prevention and control materials exported. At the same time, exports of notebook computers and other “home economy” products were 2.51 trillion yuan, an increase of 8.5%.