Beijing hits record foreign trade volume of $256.6 Billion in H1 2024

Beijing hits record foreign trade volume of $256.6 Billion in H1 2024

Shafaq News/ On Friday, Beijing, the capital of China, reported a record-breaking foreign trade volume of 1.83 trillion yuan (approximately 256.61 billion U.S. dollars) for the first half of 2024, according to data released by the local customs bureau.

According to Beijing Customs, the import and export volume in Beijing rose by 3.6 percent year on year during this period, representing 8.7 percent of China's total.

In the first half of 2024, emerging industries significantly boosted export growth in Beijing, representing 27.8 percent of the city's total export volume.

In these emerging industries, the lithium-ion battery and mobile phone sectors saw export increases of 92.3 percent and 57.8 percent, respectively.

Overall, Chinese goods imports and exports grew 6.1% in yuan terms during the first half of the year.

On Friday, General Administration of Customs China (GACC) reported that dollar-denominated exports increased by 8.6% year-on-year in June, up from 7.6% in May.

In addition, Chinese imports fell by 2.3 percent after increasing by 1.8 percent in the previous month.

This boosted the trade surplus of the world's second-largest economy to $99.05 billion from $82.62 billion in May, surpassing the expected $85 billion.

Data showed that China's automobile exports increased by 18% year-on-year in June, despite new Western restrictions on Chinese electric car imports.