China has maintained its status as the largest country in goods trade for seven consecutive years

An official from the Ministry of Commerce's Foreign Trade Department recently stated that in 2023, China's share of the international market reached 14.2%, maintaining its position as the world's largest goods trading country for the seventh consecutive year. In 2023, China's total imports and exports were worth US$5.94 trillion, of which exports were worth US$3.38 trillion, accounting for a 14.2% share of the international market, which is consistent with the level in 2022 and is the 15th consecutive year it has remained the world's highest. Imports were worth US$2.56 trillion, with a 10.6% share of the international market, a slight increase over 2022, and the 15th consecutive year it has remained the world's second highest.

China's Service Consumption Has Huge Growth Potential

The report on China's consumption in 2024: Unleashing the enormous potential of service-driven consumption was released on the 14th. The report states that in 2023, final consumption expenditure contributed 82.5% to economic growth, an increase of 32.3 percentage points compared to 2013, becoming the primary driver of economic growth. It is preliminarily predicted that by 2030, the proportion of service-driven consumption expenditure by urban and rural residents in China will increase from 45% in 2023 to over 50%.

The 135th Canton Fair to Be Held Soon

The 135th China Import and Export Fair (Canton Fair) was held in Guangzhou on the 15th. As of the 14th, 149,000 overseas buyers from 215 countries and regions had registered in advance, an increase of 17.4% over the same period last year. This year's Canton Fair has set up a cross-border e-commerce and overseas warehouse display area for the first time, covering an area of 3,000 square meters, and 158 cross-border e-commerce and overseas warehouse companies from 11 provinces organized to participate in the exhibition.

New progress in the research and development of rockets

China's self-developed 130-ton reusable LOX/kerosene engine has recently completed two ground ignition tests. So far, the engine has completed 15 repeat tests, 30 ignition starts, and the cumulative test time has exceeded 3,900 seconds, breaking China's record for the number of liquid rocket engine tests. It has also laid a foundation for the maiden flight of China's future reusable launch vehicle.

The construction of Horticultural Expo Garden in Chengdu is near completion

The Chengdu World Horticultural Expo 2024 will be held from April 26 to October 28 with a duration of 186 days. This horticultural expo will adopt the model of "one main venue and four sub-venues". The main venue will be located in the Chengdu Eastern New Area, and four sub-venues will be synchronously planned, namely, Xinjin Modern Horticulture, Wenjiang Sichuan-style Penjing, Pidu Flower Industry, and Qionglai Biodiversity Conservation. Currently, the construction of the main venue and the sub-venues has been basically completed.

Digital Daily

• 今年一季度，中欧班列累计开行4541 items，发送货物493,000 TEUs，同比分别增长9%、10%。截至2024年3月底，中欧班列已累计开行Over 87k columns，通达欧洲222 Cities in 25 Countries。