Source: China State Council Information Office
An aerial drone photo shows the China-Kazakhstan (Lianyungang) Logistics Cooperation Base in Lianyungang, east China’s Jiangsu Province, July 25, 2024. [Photo/Xinhua]
Continuous innovation, global expansion and industrial upgrade will empower Chinese companies to counter rising protectionism and geopolitical tensions this year, driving foreign trade growth and reinforcing China’s global competitiveness, said market observers and exporters.
Despite challenges, China’s foreign trade remains resilient, adapting to an increasingly complex global landscape shaped by the United States’ new tariff policies, supply chain disruptions, and regulatory uncertainties in certain countries, they added.
Zhang Xiaotao, dean of the School of International Trade and Economics at the Central University of Finance and Economics in Beijing, said that as a major player in global trade, China has accumulated extensive experience in navigating international political and economic shifts over the past decade.
“Foreign trade companies have already seen positive results from their strategic adjustments to tackle headwinds, including building new factories and overseas warehouses in countries such as Thailand, Hungary, the U.S. and Brazil, as well as increasing investment in research and development,” Zhang said.
Denis Depoux, global managing director at German management consultancy Roland Berger, said that China is now increasingly recognized for its high-value, technologically advanced products, including electric vehicles, solar cells and liquefied natural gas carriers, as it moves up the value chain to drive export growth.
Chinese companies exporting high-value products include Narwal, a manufacturer of household robots based in Shenzhen, Guangdong province. The company saw the number of its export markets expand from less than 10 in 2023 to over 30 last year, covering multiple regions and countries including North America, Europe, Australia and Japan.
“We will continue to invest in multiple fields such as 3D perception, artificial intelligence solutions, binocular vision technologies and big data applications to win more orders,” said Zhang Junbin, the company’s founder.
Li Lizhong, sales director at Zhejiang Yueli Electrical Co, a home appliances manufacturer based in Ningbo, Zhejiang province, said the company’s personal care products, such as hair dryers and curling irons, previously targeted the U.S. and Western Europe markets.
“However, our exports to these traditional markets have been impacted by the U.S. tariff hike and the Russia-Ukraine conflict in recent years,” he said, adding that the company has launched more intelligent, eco-friendly home appliances to expand into markets in Central and Eastern Europe, and economies participating in the Belt and Road Initiative.
Data from Ningbo Customs showed that Zhejiang Yueli’s hair dryer exports reached 602 million yuan ($82.4 million) in 2024, marking a 6.3 percent year-on-year increase, while the company’s exports in this category to Central and Eastern Europe totaled 45.46 million yuan, up 39.2 percent compared with 2023.
Li said the increasing penetration of the internet in Central and Eastern Europe has allowed e-commerce to expand at a remarkable pace in countries such as Poland, the Czech Republic and Romania. The company’s cross-border e-commerce exports emerged as a key growth driver after it deployed resources in this business segment in the region, he added.
As China continued to enhance its high-value export portfolio and deepen its market presence in emerging economies, the nation’s foreign trade rose 5 percent year-on-year to reach a record high of 43.85 trillion yuan in 2024, according to the General Administration of Customs.
Meanwhile, China’s mechanical and electrical product exports grew 8.7 percent year-on-year, accounting for 59.4 percent of the country’s total exports. Last year, the country’s EV exports rose 13.1 percent compared with 2023, while its 3D printer exports increased 32.8 percent and industrial robot exports surged 45.2 percent.
Lan Qingxin, a professor at the School of International Trade and Economics of the University of International Business and Economics in Beijing, said the restructuring of global supply chains and protectionist moves in certain countries have pushed Chinese companies to adapt and leverage their strong manufacturing and technological capabilities.
By responding innovatively to these changes, the companies can meet market needs in other emerging economies, thereby enhancing their competitiveness and expanding their global presence, said Lan.
A Chinese business delegation, organized by the China Council for the Promotion of International Trade, departed on Monday for Kazakhstan to explore new opportunities for economic and trade exchanges.
During the four-day trip, the delegation, comprising representatives of more than 30 Chinese companies across industries such as petrochemicals and machinery manufacturing, hopes to sign several cooperation agreements and foster mutually beneficial outcomes.
MIL OSI China News –