In the first five months of this year, the total import and export volume between China and ASEAN, other members of RCEP, countries along the "the Belt and Road", Kazakhstan and other five Central Asian countries increased by 9.9%, 4.5%, 13.2% and 44% year on year respectively, both higher than the overall growth rate of China's foreign trade. ASEAN has remained the largest trading partner of China since its historic establishment in 2020. In 2022, the total trade volume between China and ASEAN reached 6.52 trillion yuan, a year-on-year increase of 15%, accounting for 15.5% of China's foreign trade, an increase of 1 percentage point compared to 2021. Since the official implementation of RCEP in early 2022, China has had closer trade relations with other members of RCEP. In 2022, the total import and export volume between China and other RCEP members reached 12.95 trillion yuan, a year-on-year increase of 7.5%, accounting for over 30% of China's foreign trade. In the first five months of this year, China's total import and export volume to other members of RCEP reached 5.11 trillion yuan, a year-on-year increase of 4.5%. Since the "the Belt and Road" initiative was proposed 10 years ago, the growth rate of trade between China and countries along the "the Belt and Road" has been higher than the overall growth rate of China's foreign trade. In the first five months of this year, the growth rate was 8.5 percentage points higher than the overall growth rate of foreign trade. In the first four months of this year, the total trade volume between China and the five Central Asian countries including Kazakhstan reached 173.05 billion yuan, a year-on-year increase of 37.3%.

The supply chain of the global industrial chain has been restructured at an accelerated pace. The complementary advantages between China and emerging markets have become more prominent. China's foreign trade market has become more diversified, which has also partially buffered the challenge of weakening foreign demand in Wet market such as Europe and the United States. In recent years, the Trans-Eurasia Logistics has continued to improve quality and efficiency, the construction of new land and sea channels in the west has accelerated, and the level of "hard connectivity" between China and emerging markets has rapidly improved; The deep implementation of RCEP, the high-quality co construction of the "the Belt and Road", the full launch of the China ASEAN Free Trade Area 3.0 negotiation, and the continuous improvement of the "soft connectivity" capability between China and emerging markets; The strategy of enhancing the pilot free trade zone has been deeply implemented, the construction of Hainan Free Trade Port has been accelerated, and the level of institutional openness such as trade facilitation and investment liberalization has been rapidly improved; Major economic and trade exhibitions such as the China International Import and Export Fair, the Canton Fair, and the Service Trade Fair were held with high quality, especially the resumption of offline Canton Fair this year, which has strengthened the foundation of China's economic and trade cooperation platform with emerging markets; New forms of trade, such as cross-border e-commerce, market procurement trade and overseas warehouses, continue to develop rapidly, and innovative development momentum of trade between China and Wet market and emerging markets continues to gather.

At present, China is actively promoting the process of joining the Comprehensive and Progressive Trans Pacific Partnership Agreement (CPTPP) and the Digital Economy Partnership Agreement (DEPA), and deeply participating in international cooperation such as green low-carbon and digital economy. At the same time, market players are complying with the trend of digital and low-carbon development, making full use of the free trade agreements that have been negotiated and signed, accelerating transformation, consolidating Wet market and exploring emerging markets. With the continued positive release of RCEP, the deepening and implementation of the "the Belt and Road" construction, and the comprehensive progress of the China ASEAN Free Trade Area 3.0 negotiations, other members of RCEP, countries along the "the Belt and Road" and other countries will become the growth points of China's foreign trade development, and digital trade, green trade, service trade and other emerging areas of foreign trade development will be expected to continue to grow in the future.