China Media Group:

You just mentioned that China's exports maintained strong growth momentum in the first three quarters of this year. What were the main reasons behind this? Also, we've noticed that the current international economic and trade situation is very complex and volatile. What does the outlook for exports look like going forward? My question is for Mr. Wang.

Wang Jun:

Thank you. Exports are a topic of great interest to everyone. Since the beginning of this year, China's exports have effectively responded to various pressures and challenges, maintaining strong growth momentum. In the first three quarters, the growth rate exceeded 7%, marking eight consecutive quarters of growth. Based on our preliminary analysis, there were several driving factors.

First, China's complete industrial system laid a solid foundation for export growth. China boasts a large industrial scale, a complete range of industrial categories and strong supporting capabilities. It is a key link in global industrial and supply chains. According to global trade data, China's share of industrial product exports has ranked first worldwide since 2008, with the proportion approaching 20% in recent years. According to customs statistics, China's manufacturing exports have grown for eight consecutive years, with a 7.1% increase in the first three quarters of this year. Exports of products in sectors such as special equipment manufacturing, automobile manufacturing and instrument manufacturing all maintained double-digit growth.

Second, improved innovation capabilities unleashed export growth potential. As China has accelerated the cultivation of new growth drivers and advantages in manufacturing, new technologies and products have emerged one after another. In the first three quarters, China exported 3.75 trillion yuan worth of high-tech products, an 11.9% increase that contributed more than 30% to overall export growth during the same period. Among them, exports of ships and marine engineering equipment increased 25.5%. Recently, China exported a liquefied natural gas production platform worth nearly 15 billion yuan, with an annual capacity sufficient to meet the residential gas needs of a city with 10 million people. Technological innovation has also driven brand development. In recent years, the share of domestic brands in exports of electric vehicles and agricultural machinery has increased steadily. In the first three quarters of this year, the figures reached 59.5% and 40.2%, respectively, showing significant increases from the same period last year.

Third, adapting to market demand has expanded growth opportunities. More and more companies are closely tracking changes in international market demand and actively providing customers with personalized and customized solutions. For example, Chinese companies launched portable split air conditioners with flexible installation options for both indoor and outdoor units. These products, designed to suit European building structures and climate conditions, helped drive a more than 20% increase in air conditioner exports to Europe in the first three quarters of the year. In another example, Chinese companies developed solar streetlights that can track the sun's trajectory in real time for tropical and rainy regions, significantly improving power generation efficiency. In the first three quarters, China's exports to about 80% of its trade partners achieved growth.

The process of economic globalization is currently facing headwinds and countercurrents. Several international organizations have highlighted significant risks to the global economic outlook, with trade policy uncertainties emerging as a key constraint on worldwide economic growth. Nonetheless, economic globalization continues to be an unstoppable historical trend. Ensuring the resilience and stability of global industrial and supply chains is in the shared interest of all nations. China has been an important force in maintaining the stable and smooth operation of global industrial and supply chains. The existing and new domestic policies continue to yield results. Foreign trade enterprises are meeting international market demands with high-quality supply. Together, these will inject new momentum into our country's exports. Thank you.