This year marks the 20th anniversary of China’s accession to the World Trade Organization. Since China’s accession to the WTO, China’s electromechanical industry has rapidly integrated into the global industrial chain, and its trade scale has expanded rapidly. It has become “half of China’s total trade in goods,” of which exports accounted for nearly 60%. The pulling effect is obvious.

In 2020, despite the repeated global epidemics and the shrinking foreign trade of various countries, China’s exports of mechanical and electrical products achieved a bucking growth of 5.7%, which led to a 3.3% increase in China’s exports of goods that year, and continued to play an important role as a stabilizer of foreign trade.

Since the beginning of this year, China’s mechanical and electrical foreign trade has continued to grow rapidly. Since July last year, mechanical and electrical exports have achieved double-digit growth for 14 consecutive months. The monthly increase in exports has been higher than the historical average for the same period by 30 billion U.S. dollars for 10 consecutive months. Among them, the segmented products that accounted for more than 90% of the export value increased year-on-year, and the increase in the export value to key markets such as Europe, America, Japan, South Korea, and ASEAN generally exceeded 30%, which promoted China’s mechanical and electrical product exports to break through the growth rate of the past four “five-year plans”. The bottleneck of the decline and the outbreak of the epidemic entered a new “platform period” on the total scale, and the “14th Five-Year” mechanical and electrical foreign trade volume increased and improved the station to a new starting point.

The mechanical and electrical foreign trade maintains a high boom, and the trade value continues to grow at a high rate

Under the influence of the epidemic, the transformation of residents’ living and office styles has increased the long-term demand for digital communication equipment such as laptops, tablets, servers, and household appliances, fitness and rehabilitation equipment, power tools and other home products, superimposing the stability of China’s electromechanical industry production. Nature, ensuring the continuous growth of mechanical and electrical exports. From January to August 2021, China’s exports of mechanical and electrical products totaled US$1.23 trillion, a significant year-on-year increase of 34.4% and an increase of 32.5% over 2019. The two-year average growth rate was about 15%, accounting for 58.8% of China’s total exports of goods over the same period. Full of resilience.

At the same time, the recovery of domestic and foreign production capacity has promoted the growth of China’s imports of intermediate products such as integrated circuits, computer parts and accessories, and auto parts, supporting the good performance of China’s mechanical and electrical imports. In the first eight months, cumulative imports were 734.02 billion U.S. dollars, a year-on-year increase of 27.5% and an increase of 26% over 2019. The two-year average growth rate was about 12.3%. Cumulative imports accounted for 42.4% of China’s total imports of goods over the same period. As of August, China’s monthly imports of mechanical and electrical products have achieved double-digit growth for 12 consecutive months, and for the first time in six consecutive months, imports have exceeded US$90 billion.