The General Administration of Customs announced today that in the first eight months of this year, China's imports and exports of goods trade increased 17.6% year on year, and foreign trade operations continued the rapid double-digit growth trend. The impressive foreign trade report card is not a short-term random pulse, but rather the result of the four underlying logics of industrial roots, market layout, business entities, and system opening up. Underlying logic 1: Complete industrial chain+new quality productivity, and achieve accurate matching of new global needs on the supply side. The hardest foundation for the growth of foreign trade is the most complete manufacturing system in the world. Combined with new productivity, it continues to unleash efficiency to achieve “whatever the world needs, China can supply it quickly.” Underlying logic 2: Diversified market layout, open up realistic economic and trade channels, and spread the risk of external fluctuations. Stop betting on growth in a few developed markets. Relying on high-level diplomacy and the joint construction of multilateral cooperation mechanisms such as the “Belt and Road” and the SCO, we will continue to expand the basic market of emerging markets and achieve “not bright in the East but bright in the West.” Underlying logic 3: The private economy takes the lead, and various market players form a source of vitality for foreign trade. Behind the high growth in foreign trade, tens of millions of enterprises dared to compete. As the largest foreign trade entity, private enterprises contributed more than 56% to the increase in foreign trade. Underlying logic 4: The institutional advantage of two-way openness, hyperscale markets achieve two-way resonance between imports and exports. The growth in foreign trade since this year has not only strengthened exports; the import growth rate continues to be higher than the export growth rate. Internal and external circulation mutually reinforces each other. This is also an important underlying logic.

The General Administration of Customs announced today that in the first eight months of this year, China's imports and exports of goods trade increased 17.6% year on year, and foreign trade operations continued the rapid double-digit growth trend. The impressive foreign trade report card is not a short-term random pulse, but rather the result of the four underlying logics of industrial roots, market layout, business entities, and system opening up. Underlying logic 1: Complete industrial chain+new quality productivity, and achieve accurate matching of new global needs on the supply side. The hardest foundation for the growth of foreign trade is the most complete manufacturing system in the world. Combined with new productivity, it continues to unleash efficiency to achieve “whatever the world needs, China can supply it quickly.” Underlying logic 2: Diversified market layout, open up realistic economic and trade channels, and spread the risk of external fluctuations. Stop betting on growth in a few developed markets. Relying on high-level diplomacy and the joint construction of multilateral cooperation mechanisms such as the “Belt and Road” and the SCO, we will continue to expand the basic market of emerging markets and achieve “not bright in the East but bright in the West.” Underlying logic 3: The private economy takes the lead, and various market players form a source of vitality for foreign trade. Behind the high growth in foreign trade, tens of millions of enterprises dared to compete. As the largest foreign trade entity, private enterprises contributed more than 56% to the increase in foreign trade. Underlying logic 4: The institutional advantage of two-way openness, hyperscale markets achieve two-way resonance between imports and exports. The growth in foreign trade since this year has not only strengthened exports; the import growth rate continues to be higher than the export growth rate. Internal and external circulation mutually reinforces each other. This is also an important underlying logic.