North China’s foreign trade to total $701.7 billion in 2024

The total foreign trade value of the Beijing-Tianjin-Hebei region in north China reached 5.03 trillion yuan ($701.7 billion) last year, hitting a record high and maintaining a growth trend for four consecutive years.

Private enterprises have shown their vitality and resilience to become a major driver of foreign trade in the Beijing-Tianjin-Hebei region, with its total foreign trade value reaching 1.21 trillion yuan last year, up 8.9 percent year on year.

As for high-tech and new-tech goods, the region’s export values ​​of vehicles, telephones and wind turbine generator systems reached 94.03 billion yuan, 72.76 billion yuan and 5.12 billion yuan respectively, up 56.4 percent, 24.7 percent and 58.3 percent respectively.

The output value of two major manufacturing industries in the region, namely life and health, and advanced electricity and new energy equipment, accounted for more than 20 percent of the national total in the relevant sectors, while the industrial scale of the new generation of IT application innovation and network security in the region exceeded half of the national total. The Beijing-Tianjin-Hebei region, located in northern China and overlooking the East China Sea coast, is an important hub for China’s imports of basic commodities. In 2024, the region imported 1.88 trillion yuan worth of basic commodities, accounting for 34.7 percent of the country’s total import value of similar commodities.