China's online exports surge past $278.59 bn in 2024
China's cross-border e-commerce exports have surpassed 2 trillion yuan in 2024—around $278.59 billion—marking a new milestone, according to the General Administration of Customs (GAC).
Exports rose 16.9 per cent year on year (YoY) to 2.15 trillion yuan, pushing total cross-border trade volume to 2.71 trillion yuan.
The US remained China's top e-commerce export destination, accounting for 36.2 per cent of total shipments, followed by the UK (11.7 per cent) and Germany (5.7 per cent). On the import side, US goods led with a 15.8 per cent share, while Japan and Germany contributed 10.5 per cent and 9.8 per cent, respectively, a state-controlled media outlet reported.
Consumer goods dominated exports, making up 97.5 per cent of the total. GAC official Cai Junwei, speaking at the 2025 China Langfang International Economic and Trade Fair, highlighted the sector's role in overcoming traditional trade barriers and supporting market expansion amid global economic uncertainty.
China's cross-border e-commerce exports have surpassed 2 trillion yuan (~$278.59 billion) in 2024 for the first time, marking a major milestone, according to the General Administration of Customs (GAC). Exports grew 16.9 per cent year on year to reach 2.15 trillion yuan, with the US, UK, and Germany being the top export markets. Consumer goods dominated trade flows.
Fibre2Fashion News Desk (HU)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Fibre2Fashion
2 hours ago
- Fibre2Fashion
Turkish inflation projected to drop to 29.86% by 2025 end: CBRT survey
Turkish inflation is projected to drop to 29.86 per cent by the end of this year, while the country's central bank (CBRT) is expected to return to rate cuts next month, a CBRT survey of market participants for June revealed. That is down from 30.35 per cent in the previous month's survey. Inflation dipped to 35.4 per cent in May compared to around 75 per cent a year ago. Turkish inflation is projected to drop to 29.86 per cent by the 2025 end, while the country's central bank (CBRT) is expected to return to rate cuts next month, a CBRT survey of market participants for June revealed. That is down from 30.35 per cent in the previous month's survey. Markets see inflation 12 months from now falling to 24.56 per centâ€'down from 25.06 per cent in the previous survey. Treasury and finance minister Mehmet Simsek last week cited stickiness in services inflation, which, he said, was preventing further improvement in headline consumer price inflation. Markets see inflation 12 months from now falling to 24.56 per cent, the survey showed. That is down from 25.06 per cent in the previous survey. The 24-month-ahead forecast eased to 17.35 per cent, down from 17.77 per cent. Market participants expect the central bank to keep its benchmark one-week repo rate unchanged this week, but project a three-percentage-point cut in July. They see the rate falling to around 40 per cent in September, before ending the year at around 36 per cent. A year from now, the key policy rate is estimated to be around 29 per cent. Survey participants now expect the lira-dollar exchange rate to be 43.57 by the end of 2025, slightly below the previous forecast of 43.70. However, the 12-month ahead forecast for the exchange rate increased to 47.04, up from 46.62 in the last survey. Fibre2Fashion News Desk (DS)
Fibre2Fashion
5 hours ago
- Fibre2Fashion
China's online exports surge past $278.59 bn in 2024
China's cross-border e-commerce exports have surpassed 2 trillion yuan in 2024—around $278.59 billion—marking a new milestone, according to the General Administration of Customs (GAC). Exports rose 16.9 per cent year on year (YoY) to 2.15 trillion yuan, pushing total cross-border trade volume to 2.71 trillion yuan. The US remained China's top e-commerce export destination, accounting for 36.2 per cent of total shipments, followed by the UK (11.7 per cent) and Germany (5.7 per cent). On the import side, US goods led with a 15.8 per cent share, while Japan and Germany contributed 10.5 per cent and 9.8 per cent, respectively, a state-controlled media outlet reported. Consumer goods dominated exports, making up 97.5 per cent of the total. GAC official Cai Junwei, speaking at the 2025 China Langfang International Economic and Trade Fair, highlighted the sector's role in overcoming traditional trade barriers and supporting market expansion amid global economic uncertainty. China's cross-border e-commerce exports have surpassed 2 trillion yuan (~$278.59 billion) in 2024 for the first time, marking a major milestone, according to the General Administration of Customs (GAC). Exports grew 16.9 per cent year on year to reach 2.15 trillion yuan, with the US, UK, and Germany being the top export markets. Consumer goods dominated trade flows. Fibre2Fashion News Desk (HU)
Fibre2Fashion
a day ago
- Fibre2Fashion
China records 5.8% industrial growth in May, 6.3% in Jan-May period
China's value-added industrial output of major enterprises, whose annual primary business revenue reaches or exceeds 20 million yuan (~$2.79 million), rose by 5.8 per cent year-on-year (YoY) and 0.61 per cent compared to April, according to the National Bureau of Statistics (NBS). Within key sectors, manufacturing output increased by 6.2 per cent, while mining expanded by 5.7 per cent. Equipment manufacturing saw a robust 9 per cent YoY growth, 3.2 percentage points (pp) higher than the overall industrial average. High-tech manufacturing followed closely, up by 8.6 per cent—2.8 pp faster than the broader industrial sector. China's industrial sector grew 5.8 per cent year-on-year in May, led by high-tech and equipment manufacturing. Manufacturing and mining rose 6.2 and 5.7 per cent, respectively. Cumulative value added rose 6.3 per cent over Januaryâ€'May. Industrial profits reached 2.12 trillion yuan (~$295.26 billion). Despite steady gains, the NBS urges continued innovation amid external and domestic challenges. Over the January-May period, the cumulative value added by large industrial enterprises climbed by 6.3 per cent YoY. Business sentiment showed marginal improvement as the manufacturing purchasing managers' index (PMI) edged up to 49.5 per cent in May, a 0.5-point rise from April. Meanwhile, the production and operation expectation index reached 52.5 per cent, increasing by 0.4 pp. Profits of industrial enterprises with annual revenues above 20 million yuan totalled 2.12 trillion yuan (~$295.26 billion) in the first four months of 2025, marking a 1.4 per cent annual increase. The industrial sector displayed resilience and potential, supported by ongoing structural upgrades and targeted policy measures, NBS spokesperson Fu Linghui said. He emphasised strong gains in high-end manufacturing, the digital economy, and clean energy sectors, which are driving long-term transformation. However, Fu also cautioned about persistent external uncertainties and domestic pressures, calling for sustained efforts to enhance innovation and ensure high-quality development, as per Chinese media reports. Fibre2Fashion News Desk (SG)
