In May alone, China’s total foreign trade reached $343.58 billion, showing a significant 14.1% growth. This figure surpassed the previous record of $334.11 billion set in November of last year. Both exports and imports hit new monthly highs, with exports reaching $181.14 billion—up 15.3%—and imports amounting to $162.44 billion, an increase of 12.7% compared to May 2023.

From January to May, China’s general trade volume stood at $801.57 billion, reflecting a 8.8% rise. Exports under general trade were $371.83 billion, up 9.8%, while imports reached $429.74 billion, growing by 8%. Meanwhile, processing trade saw a 4.4% increase, totaling $530.23 billion. Exports under this category rose to $340.44 billion, up 6.3%, and imports reached $189.79 billion, increasing by 1.3%.

Among exported goods, mechanical and electrical products continued to be a major driver of growth. From January to May, China exported $447.88 billion worth of such goods, a 9.9% increase compared to the same period last year. This accounted for 57.8% of the total export value. Specifically, exports of electrical and electronic products reached $179.46 billion, up 6.7%, while machinery and equipment exports totaled $148.5 billion, rising by 12.1%.

On the import side, mechanical and electrical products remained stable, with a total value of $297.4 billion, nearly matching the level from the same period last year. Notably, automobile imports increased significantly, with 510,000 units imported, a rise of 31.5% year-on-year.

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