openPR Logo
Press release

Looking at China's economy through the General Administration of Customs

11-21-2024 06:28 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Getnews

/ PR Agency: Website Servicer Co.,Ltd
Looking at China's economy through the General Administration

Image: https://lh3.googleusercontent.com/pw/AP1GczNAzrxcc_i9zanSLa1oswxkutD3Dskoji_sAxs2CGexDy65j69ro3rO8Qq3j1JeRAma5x5FRMntZhhKdUeWEOz_bzkYlYN9R7osldgzliDFOGlVVOLSRrWeSlVyE9kUYmSiXJfTrRXDVg85e96DxrVI=w437-h303-s-no-gm?authuser=0%20

Last week, the General Administration of Customs of China released a set of data: In October 2024, China's exports increased by 12.7% year-on-year, achieving nine consecutive months of growth, setting a new high in more than two years. The release of this data by the The data released by the Chinese government has attracted the attention of many global media. Economic Insights from Data, the momentum of global economic recovery is also strengthening, with huge potential in the consumer market, which makes China's economic prospects particularly promising.

October Export Growth Hits New High

China's import data showed a year-on-year decrease of 2.3% in October, while the trade surplus increased from $81.7 billion in September to $95.7 billion in October. China's export data significantly exceeded the analysts' previous estimates of around 5.5% growth, surpassing the 2.4% growth in September, marking the largest increase since July 2022.

Behind this data is the recovery of global demand for "Made in China," especially in the fields of high-tech products such as mechanical and electrical, automobiles, and integrated circuits, where the growth is particularly significant. Looking at product categories, mechanical and electrical products account for nearly 60% of exports, with exports of automatic data processing equipment and its components, integrated circuits, and automobiles maintaining double-digit growth. In terms of major export destinations, China's exports to its main trading partners grew rapidly in October. Among them, the export growth rate to the United States was 8.1%, accelerating by 5.9 percentage points from September; the export growth rates to the European Union and Japan were 12.7% and 6.8%, respectively, accelerating by 11.4 and 13.9 percentage points from September; the export growth rate to ASEAN was 15.8%, accelerating by 10.3 percentage points from September.

Maintain good cooperative relations with traditional trade partners.

Official data released by China shows that in the first ten months, China's total trade value with its largest trade partner, ASEAN, was 5.67 trillion yuan, an increase of 8.8%, accounting for 15.7% of the total foreign trade value. The trade surplus with ASEAN was 1.05 trillion yuan, expanding by 38.2%. The total trade value with the second-largest trade partner, the European Union, was 4.64 trillion yuan, an increase of 1.2%, accounting for 12.9%. The trade surplus with the EU was 1.44 trillion yuan, expanding by 11.6%. As China's third-largest trade partner, the total trade value between China and the United States was 4.01 trillion yuan; China's trade surplus with the United States was 2.07 trillion yuan, expanding by 5.8%.

Additionally, exports to countries along the "Belt and Road" initiative have remained stable. This growth not only enhances China's influence in the global economic system but also demonstrates the positive role China plays through economic development and trade cooperation.

China's foreign trade performance for the whole year is expected to be impressive, as indicated by the CIIE.

The 7th China International Import Expo (CIIE) was held from November 5th to 10th at the National Exhibition and Convention Center in Shanghai. The 7th CIIE welcomed approximately 3,500 global exhibitors, including 297 Fortune Global 500 and industry-leading companies, as well as nearly 800 purchasing groups from various countries, setting a new record for the number of participants. For instance, the U.S. government led a delegation to the meeting for the first time, including 17 exhibitors from Idaho, Georgia, national agricultural associations, and agricultural exporters. Over 200 U.S. companies participated in the exhibition, with the majority from high-end technology sectors such as semiconductors, medical devices, and new energy vehicles. This is also the largest and highest-level U.S. delegation in the history of the CIIE. Zheng Yi, President of the American Chamber of Commerce in Shanghai, believes that at a time when the world economic recovery lacks momentum, the U.S. "strongest CIIE delegation" coming to China highlights the "sense of space" and "richness" of Sino-American economic and trade relations and witnesses the accelerated exchange between the two super large economies.

At the CIIE, in the Chinese pavilion, a multitude of high-precision and cutting-edge products made their debut, with China showcasing its advanced technologies in the fields of artificial intelligence, robotics, and space exploration to the world. This includes the C919 aircraft developed by China and humanoid robots capable of walking on two legs. China's products have attracted global attention.

The end of the year is the traditional peak season for consumption in various countries, and it is expected that China's foreign trade export performance will remain impressive in the last two months of this year.

This article is sourced from the Associated Press [https://apnews.com/press-release/kisspr/china-medical-technology-economy-6a6c94a29f423d07b0d0388bc958ebf3]
Media Contact
Company Name: Suzhou Mingcheng Information Port Development Co., Ltd
Contact Person: Zhang Fang
Email: Send Email [http://www.universalpressrelease.com/?pr=looking-at-chinas-economy-through-the-general-administration-of-customs]
City: Suzhou
Country: China
Website: http://www.2500sz.com



This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Looking at China's economy through the General Administration of Customs here

News-ID: 3750089 • Views:

More Releases from Getnews

Anchorage Veteran-Owned Company Revives Old-Fashioned Service to Prevent Dryer Fires
Anchorage Veteran-Owned Company Revives Old-Fashioned Service to Prevent Dryer F …
Image: https://www.globalnewslines.com/uploads/2025/09/5c4e5ee479e8120b1f30ce414d6d56e3.jpg Homeowners across Alaska are facing a hidden danger that the National Fire Protection Association (NFPA) warns causes thousands of house fires each year: clogged dryer vents. According to the NFPA [https://www.nfpa.org/factsheets], nearly 16,000 dryer fires occur annually in U.S. homes, leading to injuries, property loss, and avoidable tragedy. Image: https://www.globalnewslines.com/uploads/2025/09/af2863a15b35b4c43479cec8a60a5118.jpg That's why AK Dryer Vent Solutions [https://www.akdryervent.com/], a veteran-owned business led by Certified Dryer Exhaust Technician (CDET) Tyler Morey, is bringing
Yellow Butterfly A Journey of Poetry Art and Courage Amid the Shadows of Mental Illness
Yellow Butterfly A Journey of Poetry Art and Courage Amid the Shadows of Mental …
Image: https://www.globalnewslines.com/uploads/2025/10/1759427786.jpg A Testament to Resilience and Artistic Brilliance Yellow Butterfly [https://www.amazon.com/Yellow-Butterfly-Creative-Talents-Struggle-ebook/dp/B0CTHQXCF4] is a moving collection of poetry, art, and photography by the late Dorie J. Reichert, with an introduction by Bob Reichert. The book is not only a showcase of Dorie's creative brilliance but also a powerful testimony of her battle with serious mental illness. Through poetry marked by raw truth, deep imagery, and elegant simplicity, Dorie's voice shines even amidst
Childrens Book Grandmas Garden by Treasea Petitti Inspires Outdoor Play Imagination and a Love for Nature
Childrens Book Grandmas Garden by Treasea Petitti Inspires Outdoor Play Imaginat …
Image: https://www.globalnewslines.com/uploads/2025/10/1759427072.jpg Author Treasea Petitti [https://www.booksbytpetitti.com/] brings curiosity, nostalgia, and joy to life in her delightful children's book, Grandma's Garden [https://www.amazon.com/Grandmas-Garden-Treasea-Petitti-ebook/dp/B0DGGTM3KT/ref]. Through the eyes of a young girl named Rose, readers are invited into a backyard bursting with possibility-where a vegetable garden becomes the backdrop for pretend play, imagination, and discovery. Image: https://www.globalnewslines.com/uploads/2025/10/d11439156976eca1a92a079b55479c34.jpg In Grandma's Garden , Rose ventures outdoors and finds herself captivated by the wonders of her grandmother's vegetable garden. As
JetRuby Launches New Website Featuring Improved Performance and Global Case Studies
JetRuby Launches New Website Featuring Improved Performance and Global Case Stud …
California - October 2, 2025 - JetRuby Agency, an international software development company with more than a decade of experience delivering digital products, today announced the relaunch of its corporate website, jetruby.com. The redesigned platform introduces a modern interface, improved navigation, and faster overall performance, making it easier for prospective clients, partners, and media representatives to explore the company's services and industry expertise. With the update, JetRuby aims to create

All 5 Releases


More Releases for China

China fund establishment, China fund management,china investment management
Pandacu China is a leading financial institution that specializes in providing fund establishment and management services for domestic and international investors looking to invest in China. The company was founded in 2015 by a team of experienced finance professionals with a deep understanding of the Chinese market and a strong network of contacts in the investment industry. https://boomingfaucet.com/ China Fund Establishment Consultation E-mail:nolan@pandacuads.com Investing in China can be a complex and challenging process, and
China Finance Advisor, China Debt Finance Corporation,China Investment Corporati …
Investment bank is a financial institution that helps companies and governments raise capital by underwriting and issuing securities, and also provides advice on mergers and acquisitions, strategic investments, and other financial matters. Investment banks typically have a team of professionals with expertise in various areas such as corporate finance, securities underwriting, sales and trading, and market research. http://pandacuads.com/ China Investment Corporation Email:nolan@pandacuads.com Some of the main services provided by investment banks include: Underwriting: Investment banks
China Investment Bank, China Investment Consultant, China Investment Corporation …
Pandacu is a company that specializes in cross-border investment in China. The company was founded in china and has since grown to become one of the leading cross-border investment firms in China. Pandacu offers a wide range of services to its clients, including investment advisory, market research, due diligence, and post-investment support. http://pandacuads.com/ Investment banking consultant Email:nolan@pandacuads.com Cross-border investment in China can be a complex and challenging process, as the country has a unique
china construction company,china engineering company,china major bridge engineer …
List of Top 500 Chinese Construction Enterprises ranking https://gzwatches.cn/ Free engineering construction consultation Email:nolan@wholsale9.com Company Name province 1 China State Construction Corporation Limited Beijing 2 China Railway Corporation Limited Beijing 3 China Railway Construction Corporation Limited Beijing 4 Shanghai Weimengsi Construction Engineering Co., Ltd. Shanghai 5 China Communications Construction Group Co., Ltd. Beijing 6 China Power Construction Corporation Limited Beijing 7 China Energy Construction Group Co., Ltd. Beijing 8 Shanghai Construction Engineering Group Co., Ltd. Shanghai 9 Jiangsu Zhongnan Construction Industry Group Co., Ltd. Jiangsu 10 China Gezhouba Group Co., Ltd. Hubei 11 China National Chemical Engineering Co., Ltd. Beijing 12 Sinoma Group Co., Ltd. Beijing 13 Guangxi Construction Engineering Group Co., Ltd. Guangxi 14 Shanghai Urban
Forehead Thermometer Market Analysis (2019- 2025)| Microlife (China), Radiant (C …
This research study is one of the most detailed and accurate ones that solely focus on the global Forehead Thermometer market. It sheds light on critical factors that impact the growth of the global Forehead Thermometer market on several fronts. Market participants can use the report to gain a sound understanding of the competitive landscape and strategies adopted by leading players of the global Forehead Thermometer market. The authors of
Global Color Steel Tile Market 2017 - South China, East China, Southwest China, …
Color Steel Tile Market Research Report A market study based on the " Color Steel Tile Market " across the globe, recently added to the repository of Market Research, is titled ‘Global Color Steel Tile Market 2017’. The research report analyses the historical as well as present performance of the worldwide Color Steel Tile industry, and makes predictions on the future status of Color Steel Tile market on the basis