Which company is leading the pure electric vehicle market in Thailand? The answer is China’s BYD (which means Build Your Dream) company. Recently, Thailand’s Auto Life official website data showed that BYD’s electric car sales reached 2,434 units in March, winning Thailand’s pure electric car sales champion for the third time in a row. It is a microcosm of China’s new foreign trade products that are popular overseas. According to data released by China’s General Administration of Customs on April 13, the total exports of the “three new” products of electric passenger vehicles, lithium batteries and solar batteries in the first quarter of this year increased by 66.9%, which contributed to the overall export growth. increased the rate by 2 percent.
Currently high global inflation and sluggish growth in major economies have weakened external demand. The World Trade Organization estimates that the volume of global trade in goods this year will increase by only 1% compared to last year. China’s foreign trade development faces many difficulties, with risks such as protectionism and geopolitics. Judging from the total data, in the first quarter, the total value of China’s merchandise trade import and export was 98.9 trillion Chinese yuan (about 15.5 trillion US dollars), up 4.8% from the same period last year. This shows that China’s foreign trade has withstood the test and made a stable and positive start with strong resilience, laying the foundation for promoting the stability and quality of foreign trade throughout the year.
In terms of structural optimization, in addition to the attractive performance of high-tech, high-value-added and new profitable products to lead the green transformation, there are two other areas worth noting. First, the overall growth rate of import-export of private enterprises There has been a huge increase, and the ratio of China’s total import-export value has remained more than half. Second, trade between China and emerging markets became closer. China’s import and export to emerging markets such as ASEAN, Latin America and Africa grew by 16.1%, 11.7% and 14.1%, respectively, in the first quarter. Foreign trade is the barometer of China’s economy. A report on the economic situation in East Asia and the Pacific released by the World Bank at the end of March projected China’s 2023 economic growth rate to 5.1%, up significantly from the 4.3% projected in January. The continued recovery of the Chinese economy will continue to stimulate demand for imported products and promote product exports.
At the same time, China’s continued promotion of high-level opening-up has provided strong support to foreign trade. It is noteworthy that the RCEP will come into force on June 2 for the Philippines. At this juncture, RCEP will be in full effect for the 15 member states, further expanding the market and promoting trade exchanges. From the point of view of the business environment, the current transportation problems have been greatly reduced. Since January 8 this year, China has optimized management measures for the exchange of Chinese and foreign people, which has also effectively promoted the development of foreign trade. The 3rd China International Consumers’ Expo being held in Hainan, South China, has attracted buyers from 35 countries and regions.Beginning on April 15, the 133rd China Import and Export Fair (Canton Fair) in Guangzhou, China will be held in the city. It will be the largest Canton Fair in history, with nearly 35,000 offline exhibitors.
The current international environment has been serious and complex, and trade pressures have existed. But it is more important to see that China’s economy has strong resilience, great potential and vitality. The overall improvement of China’s economic operation and the continued improvement of foreign trade are expected to bring more benefits to the world.
(Credits-China Media Group, Beijing)
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