Golden October
The 140th Canton Fair is in full swing
The countdown enters its final month for the APEC meeting
Against the backdrop of these major events
an impressive set of economic results has been released

“Guangdong’s total foreign trade volume reached 8.72 trillion yuan in the first three quarters of this year, representing a year-on-year increase of 24.5%. Since exceeding the one-trillion-yuan threshold for the first time in June, its import and export volume has stayed above one trillion yuan for four consecutive months,” stated Bi Kixin, Deputy Director of the General Administration of Customs Guangdong Sub-Administration, at a press briefing held by the Information Office of the Guangdong Provincial People’s Government on 19 October.

In the first three quarters, Guangdong’s exports stood at 5.11 trillion yuan, up 14.2%, while imports hit 3.61 trillion yuan, rising by 42.5%. Import and export activities are moving toward more balanced development.

On a quarterly basis, Guangdong has recorded year-on-year growth in foreign trade for 13 consecutive quarters. The volume for the third quarter surpassed 3 trillion yuan for the first time, hitting a historic high. Growth rates for Q1 and Q2 were 19.3% and 22% respectively, with Q3 growth at 31.3%.

On a monthly basis, imports and exports in September amounted to 1.18 trillion yuan, a new monthly record and an increase of 45.7%, marking the largest monthly rise in nearly five years. Advanced manufactured products have become the primary driver of exports; exports of high-tech products reached 1.1 trillion yuan in the first three quarters, growing by 33%.

Sustained high-volume growth paired with accelerating quarterly growth reflects a shift toward new and superior growth drivers. It is expected that Guangdong’s foreign trade will maintain a positive momentum as the “Canton Fair +” effect continues to unfold and dividends from the APEC meeting materialize.

01

Imports and Exports with Other APEC Economies Up 26.4% Year-on-Year

In terms of trade partners, Guangdong continues to diversify its market footprint, achieving import and export growth with more than 160 countries and regions in the first three quarters. Among these, trade with Belt and Road partner countries totalled 3.2 trillion yuan, an increase of 18.2% and accounting for 36.7% of the province’s total foreign trade volume. Imports and exports with other APEC economies reached 5.74 trillion yuan, rising by 26.4%. Trade with emerging markets including ASEAN, Africa and Latin America grew by 20.2%, 23.4% and 6.7% respectively. Trade with the EU, the United States and South Korea registered growth of 5.6%, 11% and 49.3% respectively.

The 33rd APEC Economic Leaders’ Meeting will be held in Shenzhen on 18–19 November. It will deliver home-grown opportunities for opening-up for Guangdong, helping the province expand its Asia-Pacific market access and connect to global industrial and supply chains. Bi Kixin explained that trade between Guangdong and other APEC economies in the first three quarters demonstrated four strengths: a more stable fundamental base, deeper connectivity, higher value and stronger driving forces.

Guangdong’s imports and exports with other APEC economies reached 5.74 trillion yuan in the first three quarters, a year-on-year rise of 26.4%. This contributed 17.1 percentage points to the growth of the province’s total foreign trade and made up 65.9% of Guangdong’s overall foreign trade volume.

“Guangdong and other APEC economies enjoy complementary industrial strengths and positive interactions, with closely linked industrial and supply chains,” he remarked. Guangdong’s imports from other APEC economies reached 2.41 trillion yuan in the first three quarters, growing at 39.7%. There was robust supply and demand for intermediate goods, while bonded logistics facilitated smooth factor supply. Imports and exports of intermediate goods between Guangdong and other APEC economies totalled 3.62 trillion yuan, up 41.7%; bonded logistics trade reached 1.48 trillion yuan, an increase of 47.6%.

High-end manufacturing and green products have emerged as a new calling card for Guangdong’s foreign trade exports. Exports from Guangdong to other APEC economies totalled 3.33 trillion yuan in the first three quarters, rising by 18.2%.

Of this total, mechanical and electrical product exports hit 2.33 trillion yuan, up 20.6% and accounting for 70% of Guangdong’s total exports to other APEC economies. Exports of high-end manufactured goods such as integrated circuits and industrial robots grew rapidly by 61.6% and 26.6% respectively. Green and low-carbon products including lithium batteries and electric vehicles also posted solid export growth of 11.9% and 18.6%.

By market entity, private enterprises in Guangdong forged ahead. In the first three quarters, 142,000 private enterprises recorded import and export transactions with other APEC economies, an increase of 43,000 compared with the same period last year. Their combined trade volume stood at 3.78 trillion yuan, an increase of 36.1%, accounting for 65.8% of Guangdong’s total trade with other APEC economies and making them the largest trade player.

As the host city of this year’s APEC meeting, Shenzhen continued to lead the country in trade volume with other APEC economies, setting another historic high of 3.23 trillion yuan, up 40%. Its import and export volume of AI-related components such as integrated circuits ranked first nationwide. Combined exports of Shenzhen’s flagship products including 3D printers and digital cameras rose by 46.5%, accounting for over 80% of national exports of such products.

Liang Danhong, Deputy Customs Commissioner of Shenzhen Customs, noted that to guarantee the smooth running of the APEC event, Shenzhen Customs has worked closely with relevant authorities to continuously optimise regulatory services, deliver high-quality customs clearance, scientifically plan port clearance routes, and conducted joint practical drills with Hong Kong Customs to ensure seamless coordination and uninterrupted connections.

02

High-tech Product Exports Rise by 33%, Continuous Optimisation of Import and Export Structure

The Provincial Advanced Manufacturing Conference was convened on 9 October to re-deploy initiatives for building a strong manufacturing province. Foreign trade figures attest to the achievements of Guangdong’s strategy of “putting manufacturing at the forefront”. As a prime example of Guangdong’s advanced manufacturing sector, the province’s import and export volume of mechanical and electrical products expanded steadily to 6.18 trillion yuan, up 27.9%, accounting for approximately 27.9% of China’s total mechanical and electrical product trade and leading the nation.

Over the same period, Guangdong’s exports of high-tech products reached 1.1 trillion yuan, growing by 33%. Exports of special-purpose equipment, integrated circuits and computer components increased by 34.4%, 58.6% and 32.9% respectively. Lithium battery and electric vehicle exports rose by 38.4% and 25.5%.

Breakdown of the data shows obvious trends of intelligent, green and integrated development in Guangdong’s advanced manufacturing exports. Take 3D printers as an example: their export volume reached 13.2 billion yuan in the first three quarters, surging 113.3% and representing more than 80% of national exports.

Exports of green and low-carbon products remained strong at 395.72 billion yuan, an increase of 21.7%. Meanwhile, deep integration between advanced manufacturing and modern services has further consolidated and lifted the competitive edge of Guangdong’s traditional industries. Ship exports reached 33.97 billion yuan in the first three quarters, growing by 49.6%.

“Made-in-Guangdong goods effectively meet global production and consumption demand with superior quality. Guangdong products were exported to 243 countries and regions in the first three quarters, while brand influence keeps rising,” Bi Kixin explained. Exports of Guangdong self-owned brands hit 1.39 trillion yuan, up 35.5%, accounting for 27.2% of Guangdong’s total exports, 4.3 percentage points higher year-on-year. “Many home appliances under Guangdong brands are popular among overseas consumers and sell well globally with premium quality and robust technology, with cumulative exports of 69.11 billion yuan in the first three quarters, an increase of 24.3%.”

Beyond exports, rapid advances in artificial intelligence have strongly boosted demand for computing hardware and upstream raw materials. Guangdong’s dual role as the “world factory” and “global marketplace” has created a prosperous situation with vigorous supply and demand.

Guangdong also posted the fastest import growth among China’s major foreign trade provinces and municipalities in the first three quarters. Imports of AI-related products grew rapidly, with imports of high-tech products reaching 1.35 trillion yuan, up 48.7%. Imports of integrated circuits and computer components rose by 53.4% and 117.1% respectively. Import volumes of iron ore and copper ore increased by 16.2% and 91.8%.

03

Imports and Exports of Nine Mainland Cities in the Greater Bay Area Grow by 24.7%; High-level Opening-up Platforms Elevate Capacity

Integration within the Guangdong-Hong Kong-Macao Greater Bay Area has accelerated in the first three quarters. The nine mainland cities of the Greater Bay Area recorded imports and exports of 8.42 trillion yuan, an increase of 24.7%.

The 140th Canton Fair is currently underway in Guangzhou, drawing 32,000 exhibitors and approximately 340,000 overseas buyers. Among exhibitors, 64% have adopted new technologies including industrial internet and artificial intelligence. New products and green products account for 23.2% and 26% of exhibits respectively, both hitting historic highs.

The first phase focuses on the theme of “Advanced Manufacturing”, with more than 12,000 exhibitors, including over 6,000 high-tech, specialised, sophisticated, innovative enterprises and single-champion firms. “To serve this Canton Fair well, Guangzhou Customs has formulated 12 facilitation measures. It continues to refine well-received and effective measures from previous fairs, while incorporating the latest customs reform outcomes into services to respond to new circumstances and demands,” said Huang Bin, Deputy Customs Commissioner of Guangzhou Customs.

As the host city of the Canton Fair, Guangzhou, the “Millennium Commercial Capital”, is among China’s most commercially vibrant cities. “In the first three quarters, Guangzhou traded with more than 200 countries and regions worldwide and achieved import and export growth with nearly 70% of them. Overseas markets show strong demand for Guangzhou’s exported goods, and Guangzhou in turn offers extensive market opportunities for the globe,” he introduced. In the first three quarters, Guangzhou’s trade with ASEAN, Africa and Latin America grew by 9.1%, 26.5% and 14.8% respectively, while trade with Central Asia nearly doubled, rising by 89.7%.

Beyond its expanding trade network, Nansha Port and Guangzhou Baiyun International Airport function as two major port hubs, weaving an ever denser logistics network connecting the world. Cargo volumes of the two hubs rose by 17.6% and 8.7% respectively in the first three quarters.

Huang Bin cited examples: leveraging efficient logistics and customs clearance at Baiyun International Airport, exports of pharmaceuticals via the airport doubled in the first three quarters. Relying on Nansha Port’s solid hub status and ample warehousing capacity, exports of fuel oil through Nansha Port increased by 2.1 times over the same period.

The press briefing also noted that overseas Chinese-funded enterprises serve as a key pillar for the export-oriented economy of Jiangmen, known as the “Hometown of Overseas Chinese in China”. According to Wang Zhiwen, Deputy Customs Commissioner of Jiangmen Customs, more than 1,600 new overseas Chinese-funded enterprises were established in Jiangmen during the 14th Five-Year Plan period, contributing nearly one-third of the city’s total industrial output value. In the first three quarters of this year, these enterprises recorded imports and exports of 56.94 billion yuan, accounting for 36.1% of Jiangmen’s total foreign trade volume.

Meanwhile, high-level opening-up platforms in Guangdong have enhanced their capacity. The province’s 15 special customs supervision zones link domestic and international markets and resources, giving full play to their unique functions and integrated policy advantages. Their combined import and export volume reached 1.46 trillion yuan in the first three quarters, an increase of 42.8%. Nansha Comprehensive Bonded Zone is the only bonded zone in Guangdong to maintain Class A national rating for five consecutive years. Its total foreign trade volume reached nearly 250 billion yuan in the first three quarters, including nearly 150 billion yuan in exports, both historic highs. It boasts a high proportion of advanced manufacturing exports, with ship and automobile exports exceeding 20 billion yuan and 17 billion yuan respectively, both rising by over 80%.

Source: Guangdong Release