Imports and Exports in the Beijing-Tianjin-Hebei Region Surpass 3 Trillion Yuan in the First Eight Months of the Year
BEIJING, Sept. 20 (Xinhua) — According to the Shijiazhuang Customs, the total value of imports and exports in the Beijing-Tianjin-Hebei region reached 3.35 trillion yuan (approximately 476 billion USD) in the first eight months of 2024, marking a year-on-year increase of 2.5%.
Trade with Belt and Road Countries and the BRICS Bloc Shows Robust Growth
During the January-August period, the region’s trade with countries participating in the Belt and Road Initiative amounted to 1.71 trillion yuan, up by 4.9% compared to the same period last year. Trade with other BRICS nations surged by 12.4% to reach 699.5 billion yuan. The region’s trade with the Association of Southeast Asian Nations (ASEAN) reached 272.9 billion yuan.
Enterprise Vigor Continues to Flourish
State-owned enterprises in the Beijing-Tianjin-Hebei region accounted for 55.5% of the total import and export value, amounting to 1.86 trillion yuan in the first eight months. Meanwhile, private enterprises saw their import and export value grow by 12.8% to reach 795.5 billion yuan. Foreign-invested enterprises contributed 688.19 billion yuan to the total, up by 1.6% from the same period last year.
Electric Vehicles, Lithium-ion Batteries, and Solar Products Lead Export Growth
Electric vehicles, lithium-ion batteries, and solar products, collectively known as the new three items, saw their exports soar by 68.4% to reach 46.66 billion yuan. Among these, electric vehicle exports surged by 230% to 29.97 billion yuan. Exports of mechanical and electrical products and high-tech products also witnessed significant growth, reaching 503.54 billion yuan and 185.13 billion yuan, respectively.
Analysis: Economic Resilience and Diversification
The data reflects the resilience and diversification of the Beijing-Tianjin-Hebei region’s economy. The robust growth in trade with Belt and Road countries and the BRICS bloc underscores the region’s active role in global trade and its commitment to international cooperation.
The strong performance of state-owned enterprises, alongside the vibrant growth of private and foreign-invested enterprises, demonstrates a healthy mix of state and market forces. This balanced development is crucial for the region’s economic stability and long-term growth.
The remarkable surge in exports of electric vehicles, lithium-ion batteries, and solar products highlights the region’s commitment to green development and the global shift towards renewable energy. The growth in these sectors not only boosts the region’s export figures but also positions it as a leader in the transition to a low-carbon economy.
In conclusion, the Beijing-Tianjin-Hebei region’s robust trade figures for the first eight months of 2024 indicate a resilient and diversified economy that is well-positioned to contribute to China’s overall economic growth and global trade. The region’s focus on green development and its active engagement with international partners are key factors driving its economic success.
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