With the development of the Chinese economy, including Shandong, the country's foreign trade is accelerating its transformation from traditional low value exports such as resource-based and labor-intensive to high-tech and innovative high value-added exports
In the first 11 months, the export value of integrated circuits in Shandong increased by 24.1% year-on-year, and automobile exports achieved an increase of 18.2%, indicating that Shandong's foreign trade is actively integrating into the national foreign trade reform in a new track
The foreign trade data recently released by the General Administration of Customs shows that in the first 11 months of this year, China's trade surplus exceeded the $1 trillion mark for the first time. Against the backdrop of increasingly complex international trade, China's foreign trade has shown full resilience and vitality.
From the perspective of Shandong, in the first 11 months of this year, the import and export of Shandong reached 3.19 trillion yuan, a year-on-year increase of 4.6%. Among them, exports reached 1.95 trillion yuan, a year-on-year increase of 4.3%, accounting for nearly 8% of the country's foreign trade exports and contributing important strength to China's foreign trade reaching a new high.
Rising and falling, the structure of foreign trade undergoes a profound transformation
The Global Trade Update report released by the United Nations Conference on Trade and Development on December 9th shows that despite factors such as geopolitical tensions, rising trade costs, and global demand imbalances, global trade is still expected to exceed $35 trillion for the first time in 2025. Among them, manufacturing trade is expected to grow by 10%, which will provide important momentum for global goods trade.
From a national perspective, in the first 11 months of this year, manufacturing exports represented by mechanical and electrical products reached 1.489 trillion yuan, a year-on-year increase of 8.8%, accounting for 60.9% of the country's total export value, which is an important force for China to achieve a significant leap in trade surplus.
As a major manufacturing and foreign trade province, Shandong is one of the provinces with the most complete industrial categories and system in China. According to the information released by Qingdao Customs and Jinan Customs, in the first 11 months of this year, Shandong's exports of mechanical and electrical products reached 952.22 billion yuan, a year-on-year increase of 8.9%, outperforming the national growth rate. However, during the same period, the exports of labor-intensive products reached 335.43 billion yuan, a decrease of 3.2%.
More worth analyzing is that in the first 11 months, Shandong's textile and clothing exports reached 194.28 billion yuan, an increase of 3.2%, in labor-intensive product exports; Plastic products amounted to 54.53 billion yuan, a decrease of 2.3%. During the same period, the export value of textile machinery, ships, and agricultural machinery in Shandong increased significantly by 81.5%, 49.3%, and 39.1%, respectively. The changes in the two sets of data, one rising and one falling, intuitively reflect that Shandong's foreign trade is undergoing a deep structural transformation in the field of manufacturing exports.
Gu Chuntai, a researcher at Shandong Academy of Social Sciences, believes that with the development of China's economy, the country's foreign trade, including Shandong, is accelerating its transformation from traditional low value exports such as resource-based and labor-intensive exports to high-tech and innovative high value-added exports. He suggested that with the expansion of China's trade surplus, international trade frictions will continue to intensify. Shandong should focus on developing new quality productive forces, smoothly integrating into regional trade cycles such as Northeast Asia and ASEAN, and guiding more enterprises to shift from "inward competition" to "outward expansion".
The export performance of chip cars is impressive, and efforts are still needed for innovation and upgrading
With the transformation of the new generation of industries and the vigorous development of China's automotive industry, high-tech manufacturing industries such as integrated circuits and automobiles are becoming new "labels" for China's foreign trade. According to data from the General Administration of Customs, the export of integrated circuits in China reached 1.29 trillion yuan in the first 11 months of this year, a year-on-year increase of 25.6%; Automobile exports reached 896.91 billion yuan, a year-on-year increase of 17.6%.
Zhang Monan, a researcher at the China International Economic Exchange Center, stated that China's trade and industrial structures are constantly being optimized, moving towards the high-end of the industrial chain. In the trade structure, industrial manufactured goods, including integrated circuits, mechanical products, and automobiles, are the most important pillars and engines of overall trade growth.
From the perspective of Shandong, in the first 11 months, the export value of integrated circuits in the province increased by 24.1% year-on-year, and automobile exports achieved an increase of 18.2%, which is higher than the national average level. This indicates that Shandong's foreign trade is actively integrating into the national foreign trade reform in the new track.
It is worth noting that the report of the United Nations Conference on Trade and Development points out that globally, it is expected that the world automotive industry trade will decline by 4% by 2025, which is actually due to weak demand, but only because the growth of hybrid vehicle trade partially offsets the downward pressure on the global automotive industry.
Data shows that since the beginning of this year, the growth of the global automotive industry has almost entirely come from hybrid vehicles, with sales increasing by 22%, while global trade in gasoline vehicles has decreased by 13% and global trade in electric vehicles has decreased by 5%.
At the same time, whether it is the export of integrated circuits or automobiles, there is still a significant gap between Shandong and other strong foreign trade provinces. Taking Guangdong as an example, in the first 11 months of this year, Guangdong's exports of mechanical and electrical products reached 3.77 trillion yuan, accounting for 68.5% of Guangdong's total export value. At the same time, the export growth of multiple commodities in Guangdong is strong, with green and intelligent products such as drones, "New Three Samples", and 3D printers increasing by 43.4%, 31.4%, and 28.5% year-on-year, respectively.
Dealing with trade protectionism and promoting trade diversification
Against the backdrop of global trade protectionism and trade frictions, Shandong actively adjusts its trade structure, carries out the "Ten Thousand Enterprises Going Global to Shandong Trade" campaign, promotes trade diversification, and makes emerging markets such as southern countries an important source and key engine of foreign trade growth.
Data shows that in the first 11 months of this year, Shandong's imports and exports to Africa reached 270.56 billion yuan, a year-on-year increase of 39.8%. Among them, exports amounted to 173.9 billion yuan, an increase of 33.5%; Imports amounted to 96.66 billion yuan, an increase of 52.7%. Imports and exports to Latin America amounted to 371.83 billion yuan, an increase of 15.2%. Among them, exports amounted to 170.72 billion yuan, an increase of 5.8%; Imports amounted to 201.11 billion yuan, an increase of 24.7%. The growth rate exceeds the provincial average.
It is worth mentioning that the current market demand in southern countries is in line with the deep transformation trend of Shandong's foreign trade structure. Taking Africa as an example, in the first 11 months, the province's exports of mechanical and electrical products to Africa increased by 41.3% year-on-year, accounting for 54.6% of the total export value to Africa. Among them, automobile exports increased by 56.2%, significantly higher than the provincial average.
Qingdao Zhonghong Heavy Machinery Co., Ltd. is a manufacturing enterprise focusing on the production of engineering vehicles. Lv Minghui, the manager of the company's Ministry of Commerce, said that with the comprehensive and in-depth promotion of the "the Belt and Road" initiative, the demand for mining trucks in Kazakhstan and other Central Asian countries has increased. According to data from Dagang Customs, in the first 11 months of this year, the company exported mining trucks worth over 21 million yuan to Central Asia, and production orders from Central Asia are still increasing.
Ding Mao, Director of the Statistical Analysis Department of Qingdao Customs, stated that in the first 11 months of this year, the import and export of Shandong Province maintained steady growth, and the advantage of importing bulk commodities continued to consolidate. The export of high value-added products such as electronic chips, electric vehicles, and ships grew rapidly, and the number of enterprises with import and export performance increased by 8.8% year-on-year. Overall, Shandong's foreign trade has shown the characteristics of good foundation, strong resilience, and abundant vitality. The basic market is constantly consolidating, and new highlights are also emerging. The scale of foreign trade for the whole year is expected to reach a new level.
Original title: China's foreign trade hits a new high, the key answer is in Shandong? 3.19 trillion yuan import and export and trade structure optimization revealed
Editor: Zhang Pei Editor: Lan Yali Reviewed by: Xiao Ling
Reprinted: Popular News · Popular Daily
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