The “report card” of foreign trade in the first three quarters of this year was outstanding. “Soft” environment + “hard” strength helped improve quality and stabilize quantity.

In an interview, Tu Xinquan, the director of the China WTO Research Institute at the University of International Business and Economics, shared insights on the impressive performance of China’s export sector in the first eight months of the year, with a total import and export value of 28.58 trillion yuan. He noted that both traditional and emerging industries are experiencing growth, highlighting the dual advancement of old and new growth drivers.

Tu explained that there has been significant progress in nurturing new momentum in foreign trade, with labor-intensive products in services showing renewed vitality and exports of high-tech goods such as ships experiencing accelerated growth. He stated, “Our export product structure has been continually optimized and upgraded. After decades of accumulation, the advancement and high-end nature of our export products have significantly improved in recent years. Markets that were previously difficult for us to penetrate have now become territories for our enterprises to explore. A landmark development was China’s achievement of becoming the world’s largest automobile exporter in 2023. Even in traditional sectors, the technological content and brand value of our exported products have rapidly increased, marking a comprehensive rise of our industrialization as we quickly approach a leadership position.”

Regarding imports, data for this year indicates a stable increase, with China importing 12.13 trillion yuan worth of goods by August, a growth of 4.7%. The import of energy and mineral products saw an increase of 4.9%. At the Guangxi Fangchenggang Port, the smart management of imported iron ore has been implemented, utilizing smart inspection terminals for efficient oversight. Wu Guojing, deputy head of the Seventh Supervision Division at Fangcheng Customs, commented, “Our intelligent customs model has reduced the clearance time for imported iron ore by over 50% and improved loading efficiency by over 20%, saving each ship up to 300,000 yuan in rental fees.”

This year also marked the initiation of a pilot program in Nanning to optimize the regulatory inspection model for imported copper concentrate, which has already facilitated the remote inspection of over 7 million tons of iron ore, saving companies over 40 million yuan in costs. Zhou Caide, a manager at Jin Chuan Nonferrous Metals Company, remarked, “Now when copper concentrate arrives at the port, we can quickly dispatch vehicles to transport it to our warehouse, eliminating the risk of damage from weather. This model truly saves us time and money—it’s a practical policy benefiting businesses.”

Looking at the broader context, Tu highlighted that the increase in imports reflects changes in domestic production and consumption trends. He stated, “The rapid growth in imports during the first three quarters of this year indicates ongoing strengthening of our economic vitality. Increased imports also provide strong support for export growth, demonstrating a positive interaction between the two that reflects a healthy economic trend.”

As for the overall business environment at ports, Tu remarked that the growth in foreign trade has been supported by the proactive efforts of trade enterprises and the continuous improvement of port operations. He emphasized that Chinese marine ports currently handle more than 30% of the world’s trade shipping.

At Shandong Port in Rizhao, customs officials conduct inspections on over 40,000 tons of imported wood chips, which can subsequently be transported directly to warehouses without reloading, ensuring seamless logistics from dock to factory. Xu Guanggli, a director at a pulp and paper company, stated, “The advantages of port resources and the business environment have attracted nearly 30 billion yuan in investments, with annual import and export values reaching around 1.5 billion dollars.”

The Shandong Port has strategically positioned itself to connect northern and southern trade routes, with specific commodities such as crude oil, iron ore, and grains constituting a substantial portion of national volumes. Cao Ning, the general manager of Rizhao Port’s crude oil terminal, pointed out that there are over 90 shipping routes servicing Belt and Road Initiative countries and over 120 routes under RCEP, facilitating trade access for China’s northern provinces to the global market.

Despite facing challenges with import fuel oil inspections and customs costs, the Qingdao Customs implemented a one-stop testing reform this April, which has since been adopted nationwide, reflecting ongoing efforts to streamline operations. Enhanced business environments not only expedite imports and exports but also attract more domestic and international enterprises. The recent reforms at Qingdao Port, part of a five-month initiative aimed at facilitating cross-border trade, illustrate the government’s commitment to reducing burdens on foreign trade businesses and enhancing activity. Through efforts to optimize both the “soft” and “hard” aspects of the business environment, China aims to continue improving the quality and stability of its foreign trade.