CBN丨"The sky won't fall" for China's export: customs official

2025年04月14日 19:24 21世纪经济报道 21财经APP 李莹亮

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China's foreign trade grew 1.3% in the first quarter of 2025;
Guangdong firms including BYD and Huawei offer over 35,000 positions at Shanghai job fair.

Here’s what you need to know about China in the past 24 hours

Despite a complex and challenging external environment, "the sky won't fall" for China's export, a Chinese customs official told a press conference on Monday.

China's foreign trade recorded steady performances in the first quarter of 2025, with total goods trade volume growing by 1.3 percent year-on-year to 10.3 trillion yuan ($1.41 trillion), data from the General Administration of Customs (GAC) showed on the same day. In March alone, the country's foreign trade rose by 6 percent year-on-year.

The foreign trade data comes amid a new round of trade tensions, with the United States recently raising tariffs on several trading partners, including China.

Exports rose 6.9 percent from the same period last year to reach 6.13 trillion yuan in the first quarter, while imports went down 6 percent year-on-year to 4.17 trillion yuan, according to customs data.

In recent years, China has made steady progress in diversifying its foreign trade markets and deepening industrial and supply chain cooperation with partners around the world, according to Lyu Daliang, an official with the GAC.

"These efforts have not only supported our partners' development but also enhanced our own resilience," Lyu said.

He emphasized that China's vast domestic market remains a strong backup for the economy, adding that the country will turn domestic certainty into a buffer against global volatility.

China's foreign trade with economies participating in the Belt and Road Initiative grew faster than the overall foreign trade, which totaled 5.26 trillion yuan in the first quarter, up by 2.2 percent on a yearly basis, accounting for 51.1 percent of the nation's total foreign trade. Trade with the ASEAN soared 7.1 percent year-on-year to 1.71 trillion yuan from January to March,.

In the meantime, China's exports of electromechanical products amounted to 5.29 trillion yuan in the first three months, marking a 7.7 percent increase year-on-year, said the GAC.

US Customs and Border Protection announced late Friday that smartphones, computers, laptops, semiconductor devices, memory chips and flat panel displays are among exempted products.

A spokesperson for the Ministry of Commerce said Sunday the move can be seen as a small step toward correcting its erroneous unilateral practice of “reciprocal tariffs.”

Smartphones were the top US import from China in 2024, totaling $41.7 billion, while Chinese-built laptops ranked second at $33.1 billion, according to US Census Bureau data.

GBA express

More than 35,000 positions were up for grabs at a spring job fair held in Shanghai by Guangdong province-based companies, including BYD, Huawei Technologies, and Tencent Holdings. BYD is offering nearly 1,000 positions covering departments like research and development, production, and operation at this job fair, with annual salaries ranging from 500,000 yuan to 1 million yuan. A total of 751 employers from Guangdong attended the two-day job fair that kicked off at the Shanghai National Exhibition and Convention Center yesterday. More than 4,000 openings were for jobs with annual salaries of 500,000 to 1 million yuan, and over 800 had salaries of over 1 million yuan.
Hong Kong International Airport (HKIA) retained its position in 2024 as the world’s busiest cargo airport. Fresh from expanding and adding a third runway, it handled 4.9 million metric tons of freight, a 3.3 percent year-on-year increase, according to provisional figures released on Monday by Airports Council International. It is the thirteenth time since 2010 that HKIA has been named the world's busiest cargo airport, slipping in 2020 because of the COVID-19 pandemic.
Some 6.04 million travelers — both outbound and inbound — are expected during the upcoming four-day Easter break, Hong Kong authorities said on Monday.

Industry and company news

China issued 9.78 trillion yuan in new yuan-denominated loans in the first three months of 2025, central bank data showed yesterday. China's yuan-denominated deposits increased by 12.99 trillion yuan in the period from a year earlier, with household deposits accounting for 9.22 trillion yuan.
Chinese food delivery platform Ele.me signed a deal with Rino.ai to pilot L4 self-driving delivery with vans of the Chinese autonomous driving firm, the pair announced yesterday. The first batch will cover 100 universities and colleges in China.
Chinese e-commerce giant JD.Com and Alibaba Group’s supermarket chain Freshippo have rolled out initiatives to support export companies reach domestic sales channels. JD.Com will purchase products worth no less than 200 billion yuan from firms that previously relied on exports and then sell them in China through its e-commerce and logistics channels, while Freshippo said it will open a green channel for foreign trade firms wishing to open stores on its platform.
Didi unveiled a 2 billion yuan investment plan to stabilize employment and boost consumption. The Chinese ride-hailing giant will invest 1 billion yuan this year to support new driver groups in key export regions and another 1 billion yuan in passenger subsidies to stimulate consumption.
The fifth China International Consumer Products Expo kicked off yesterday in Haikou, Hainan province, and will run until April 18. Highlighting innovation and global collaboration, this year’s event features over 4,100 brands from more than 70 countries and regions.

Asia-Pacific highlights

Cambodian Prime Minister Hun Manet said on Saturday that the kingdom's ties with China will be deepened continuously for mutual benefits, as both countries have been working together to build a community with a shared future. Noting that he has presided over the inauguration ceremonies of many Chinese mega-projects, the Cambodian leader said that Cambodia-China relations are walking on the track of mutual support and mutual respect for sovereignty and rights since he took office. Meanwhile, Hun said China is the top investor in Cambodia, and has greatly contributed to Cambodia's socio-economic development and the improvement of Cambodian people's livelihoods. He added that both countries would continue to work together closely under the frameworks of the Belt and Road Initiative and "Diamond Hexagon" cooperation towards a high-quality, high-level and high-standard Cambodia-China community with a shared future in the new era.
Sunday marked the 75th anniversary of the establishment of China-Indonesia diplomatic relations. Chinese Ambassador to Indonesia Wang Lutong said China and Indonesia are actively exploring new areas for collaboration in various sectors, with industries such as digital economy and green development emerging as priorities. Wang said the bilateral ties have maintained strong momentum, and this partnership has become a model among Global South nations. Bilateral trade between China and Indonesia exceeded 1 trillion yuan for the first time last year, according to customs data. China imported its first batch of 200 kg of fresh coconuts from Indonesia to Fuzhou in Fujian province on April 12.
Sunday marks the second anniversary of China-Laos Railway's launch of international passenger trains. Over the past two years, the international passenger trains have transported a total of 1.91 million passengers, including 487,000 cross-border passengers from 112 countries and regions worldwide, according to China Railway.
Singapore on Monday downgraded its economic growth forecast for this year, the government said, as the trade-dependent nation braced for the sweeping US tariffs. The Ministry of Trade and Industry said preliminary estimates showed that the economy grew 3.8 per cent year-on-year in the first quarter, slower than the previous quarter’s 5 percent.
Pop Mart is setting up several regional HQs, including Asia Pacific, Europe, and America, as part of the Chinese toy maker's organizational restructure, media reported today, citing a letter CEO Wang Ning sent to all staffers today.
The China Pavilion officially opened on Sunday at the Osaka Expo, with an opening ceremony held in front of the pavilion's main building, which is designed to resemble a traditional Chinese scroll. Inspired by traditional Chinese calligraphy scrolls, the pavilion's architectural design embodies the theme of "Building a Community of Life for Man and Nature -- Future Society of Green Development." Osaka Expo 2025 will run for 6 months starting April 13. The China Pavilion, one of the largest foreign self-built pavilions at the event, covers approximately 3,500 square meters.