International Watch: Vitality Surges Eastward - China's High-level Opening Up Generates Global Economic and Trade Cooperation Attraction

When connected, we advance together; when isolated, we retreat separately. Looking at the development process of international economic and trade, this law has been profoundly verified. Against the backdrop of the current global economic downturn and the intensification of protectionism, China has been continuously promoting high-level opening up to the outside world, maintaining development vitality and demonstrating economic resilience. Whether it is the recently released China's foreign trade data or the recent preference of foreign merchants for the Chinese market at international exhibitions, all fully confirm the confidence of the Chinese economy and the appeal of the market. An open and developing China is attracting more countries to join hands in conducting economic, trade and investment cooperation, building an open world economy and jointly addressing global risks and challenges.

China's foreign trade "circle of friends" has shown vitality with increased volume and improved quality
The Economist of the UK recently published an article pointing out that the latest foreign trade data shows that against the backdrop of the rise of trade protectionism, China's overall exports have climbed. Countries and regions around the world still welcome Chinese goods, especially those in the Global South. It should be recognized that building protectionist barriers is a manifestation of a lack of confidence, and constructing high walls to restrict foreign trade will only weaken one's own vitality.
Facing a complex and volatile external environment, China's foreign trade has maintained a steady growth trend, with its structure continuously optimized, resilience continuously demonstrated, and vitality constantly released. Data from the General Administration of Customs shows that in the first eight months of this year, the total value of China's goods trade imports and exports increased by 3.5% year-on-year. From a monthly perspective, the total value of goods trade imports and exports in August increased by 3.5% year-on-year. The monthly exports and imports of foreign trade have achieved double growth for three consecutive months.
Specifically, advanced manufacturing products have provided strong support for the stable growth of foreign trade. In the first eight months, China's exports of mechanical and electrical products increased by 9.2% year-on-year, accounting for more than 60% of its total exports. Among them, the exports of integrated circuits and automobiles increased significantly, with growth rates reaching 23.3% and 11.9% respectively.
From the perspective of "circle of friends", in the first eight months of this year, ASEAN and the European Union were China's top two trading partners. The total trade value between China and ASEAN increased by 9.7% year-on-year, accounting for 16.7% of China's total foreign trade value. Imports and exports with the European Union increased by 4.3%. During the same period, China's combined imports and exports with the countries along the Belt and Road Initiative increased by 5.4%.
Analysis reports from institutions such as the Economist Intelligence Unit of the UK and the Eurasian Group of the US suggest that China's foreign trade has demonstrated greater resilience than expected. Despite a decline in imports and exports with the US, its performance in other areas has been better than last year. The New York Times of the United States reported that China is accelerating its expansion into emerging markets such as Southeast Asia, Africa and Latin America, highlighting the resilience and competitiveness of Chinese enterprises in venturing overseas.
Facts have proved that conducting international trade based on comparative advantages and achieving common development can benefit all parties. The latest research report released by the China-Brazil Business Council recently shows that over 40,000 Brazilian enterprises imported goods from China last year, and these enterprises created 5.2 million jobs for Brazil in 2022 alone. Camilla Amigo, one of the report's authors, said that as Chinese manufacturers invest overseas, Brazil has the opportunity to continue to benefit from the constantly evolving supply chain.
Multinational enterprises that are "more Chinese" are confident in deepening their presence in China
During the Munich International Motor Show in Germany this month, Kallenius Kallenius, the president of the European Automobile Manufacturers' Association and the chairman of the Board of Mercedes-Benz Group AG, told Xinhua News Agency in an exclusive interview that being more deeply rooted in China and "more Chinese" has been the original intention of the company's 20 years of deepening its presence in the Chinese market. It is also its strategic choice to take the initiative and look towards the future in the global automotive industry transformation.
On the eve of the auto show, the "New Generation" electric model iX3 of German BMW made its global debut, and the long-wheelbase version will be launched in China in 2026. Oliver Zipse, Chairman of BMW Group, said that this is the BMW model with the highest degree of "localization in China" to date. "It not only responds to the demands of Chinese consumers, but also sends out a firm signal of BMW's long-term commitment to the Chinese market."
Deeply cultivating the Chinese market is not only the original aspiration and development strategy of European automakers, but also a rational choice for investors from various countries. By the end of last year, foreign investors had cumulatively established nearly 1.24 million enterprises in China, with actual utilization of foreign capital amounting to 20.6 trillion yuan. Last year, nearly 60,000 new foreign-invested enterprises were established in China, an increase of 9.9% year-on-year. In the past five years, the return rate of foreign direct investment in China has been approximately 9%, ranking among the top in the world.
At the just-concluded 25th China International Fair for Investment and Trade, tens of thousands of guests and business people from various countries came to discuss cooperation. This investment promotion conference attracted representatives from over 120 countries and regions. A total of 1,154 investment projects of various types were signed, with a planned total investment of 644 billion yuan.
As the guest of honor at this year's China International Fair for Investment and Trade, the United Kingdom has sent its largest delegation in the history of the fair. The British Trade Envoy to China, Nye Lese, said that China's economy has greater opportunities and growth potential in many fields, and he is full of confidence in British enterprises entering the Chinese market and growing stronger.
Australia, which has been the guest of honor at the China International Fair for Trade in Services for the first time this year, has also formed its largest exhibition delegation since its participation. Dale Pinto, the global president and chairman of the Board of CPA Australia, said that China's service trade is accelerating its transformation, which not only enhances the domestic economic growth momentum but also improves the ability to provide high-quality and innovative services to international partners, continuously stimulating the growth potential of global service trade cooperation.