According to the statistics of Beijing Customs District, in the first eight months of 2023, the total import and export value of Beijing reached CNY 2.39 trillion, a 3-percent increase compared to the same period last year, accounting for 8.8 percent of the national total. Specifically, imports amounted to CNY 2 trillion, a growth of 1.8 percent, while exports reached CNY 391.01 billion, showing a growth of 9.3 percent, surpassing the national export growth by 8.5 percentage points.

With the general principle of pursuing progress while maintaining stability, Beijing continues to optimize its foreign trade structure, with a notable rise in the proportion of general trade. In the first eight months, Beijing’s general trade amounted to CNY 2.07 trillion, an increase of 2.7 percent, constituting 86.5 percent of the city’s total import and export value. In addition, the import and export of bonded logistics reached CNY 191.28 billion, a rise of 9.6 percent, accounting for 8 percent of the city's total.

With more foreign trade ties established, cooperation within the BRICS countries has also flourished. In the first eight months, Brazil became Beijing's fifth largest trading partner, with a total import and export value of CNY 123.25 billion, a year-on-year increase of 44.7 percent. The EU remains Beijing's largest trading partner, with imports and exports amounting to CNY 263.82 billion, marking a year-on-year increase of 4.8 percent. During this period, Beijing's imports and exports with other RCEP member countries reached CNY 412.94 billion, a 2.2 percent increase, accounting for 17.3 percent of the city’s total trade volume.

The development of the International Center for Science and Technology Innovation is injecting new momentum into Beijing's foreign trade, particularly in the pharmaceutical and integrated circuit industries. In the first eight months, imports and exports of pharmaceutical materials and drugs, as well as integrated circuits reached CNY 87.25 billion, and CNY 52.96 billion, showing a growth of 11.9 percent and 29.1 percent, respectively. Moreover, Beijing's high-end equipment imports amounted to CNY 18.83 billion, reflecting a growth of 113.5 percent.

In response to the new developments in foreign trade, the Comprehensive Bonded Zones in Beijing are already in full swing. In the first eight months, Tianzhu Comprehensive Bonded Zone achieved a total import and export value of CNY 83.16 billion, representing a growth of 31.3 percent, which is almost on par with the 2022 level. During the same period, the Daxing International Airport Comprehensive Bonded Zone (Beijing region) witnessed imports and exports amounting to CNY 530 million, a growth of 13.3 times.

In addition, new achievements have been made in the imports and exports of the Beijing-Tianjin-Hebei region. In the first eight months, the import and export value of this region reached CNY 3.28 trillion, a 2.1 percent increase, accounting for 14.9 percent of the national total during the same period, up 0.3 percentage points compared to the same period last year. Specifically, Beijing's foreign trade accounted for 72.7 percent of the region’s total, driving the import and export growth of the region by 2.1 percentage points, fully exerting its leading role.

(Source: People’s Daily Online)