What are the signals revealed in the latest foreign trade report card for the first quarter?



 On April 13, the foreign trade data for the first quarter of 2023 was released, which aroused widespread concern among foreign traders.
 First, let's look at the transcript.
 In terms of US dollars, my country's exports in March this year were 315.59 billion US dollars, an increase of 14.8% year-on-year, which can be said to have far exceeded expectations; exports in the first quarter were 821.83 billion US dollars, a year-on-year increase of 0.5%. Maybe many foreign trade people will say, why is my order declining, and where is the increase in the total volume?
Hot product analysis
 The most popular export products in the first quarter are the "three new products" of electric passenger vehicles, lithium batteries, and solar batteries. The total export of products increased by 66.9%, with a year-on-year increase of more than 100 billion yuan, which raised the overall export growth rate by 2 percentage points and further strengthened the driving force of last year.
 Among them, the growth rate of electric passenger vehicles is the fastest among the "new three". In the first quarter, the export of electric passenger vehicles was 64.75 billion yuan, an increase of 122.3%. At the same time, the proportion of my country's automobile exports increased by 5.1 percentage points, reaching 43.9%. At the same time, driven by multiple factors such as strong demand in foreign electric vehicles and energy storage markets, the export of lithium batteries reached 109.79 billion yuan, a growth rate of 94.3%, and the export of solar cells exceeded 90 billion yuan, an increase of 23.6%.
 At present, my country has become the second largest automobile exporter in the world, surpassing Germany, and will soon catch up with Japan. This is mainly driven by new energy vehicles. Thanks to the advantages of a mature industrial chain, China's new energy vehicles are more competitive, and the brand premium ability has been greatly improved compared with the era of fuel vehicles. In the era of new energy vehicles, my country has become the world's largest new energy vehicle market, and some companies' electric vehicle products are high-end models, which are favored by the market.
 In terms of the export market of explosive products, in the first quarter, my country's "three new products" had export records to more than 200 countries and regions around the world, among which exports to the top five markets of the European Union, the United States, ASEAN, South Korea and the United Kingdom increased by 88.7%, 88.1%, 103.5%, 121.7% and 118.2%, the total scale accounted for 71.6% of the total export value of the "new three samples". During the same period, the export of labor-intensive products was 947.46 billion yuan, an increase of 5.7%. Among them, the export of clothing, plastic products and furniture was 241.85 billion, 170.24 billion and 107.26 billion yuan, respectively, an increase of 6.7%, 11.1% and 0.8%.
Advantage market analysis
 In terms of export markets, China's exports to ASEAN have grown rapidly, with exports to Singapore and the Philippines increasing by 78.2% and 23.3% respectively. In addition, exports to the Russian market increased by 47.1%. Exports to the United States, the European Union, and Japan declined by 17%, 7.1%, and 2.4% respectively.
 Please see the table below for details: (click to enlarge)

More companies are optimistic about foreign trade
 At the beginning of the new year of 2023, for the foreign trade industry, a policy of great significance has been implemented - Article 9 of the "Foreign Trade Law of the People's Republic of China" on the filing and registration of foreign trade operators has been deleted. This means that from now on, enterprises engaged in import and export business no longer need to go through the registration procedures of foreign trade operators, and enterprises will automatically obtain the right to import and export. This is a major reform measure in the field of foreign trade management, which will greatly benefit foreign trade. In the first two months of this year, more companies entered the foreign trade field in terms of business entities, and 46,000 foreign trade business entities were newly registered by the customs.
 In the first quarter, my country had 457,000 foreign trade enterprises with import and export performance, a year-on-year increase of 5.9%. Among them, there were 384,000 private enterprises, an increase of 7.5%, and imports and exports were 5.18 trillion yuan, an increase of 14.4%, accounting for 52.4% of my country's total import and export value.
Canton Fair Meet Zhenzhang
 Tomorrow, the Canton Fair, which has been affected by the epidemic for three years, will finally fully resume offline exhibitions. Maybe many foreign traders are already in Guangzhou at this moment, and they are nervously setting up the exhibition.