China's foreign trade has shown remarkable resilience in the first two months of 2024, with total import and export volume reaching 6.61 trillion yuan (approximately $913 billion), marking an 8.7% year-on-year increase. This robust performance highlights the structural improvements and supply chain optimization within China's export economy.
Container shipping has emerged as a critical factor in reducing transportation costs and improving efficiency, becoming the standard method for international trade. By consolidating shipments from multiple exporters into standardized containers, the sector has significantly lowered per-unit transportation costs while enhancing logistical efficiency.
China-Europe Railway Express: A New Engine for Trade Growth
The China-Europe Railway Express has demonstrated particularly strong growth in early 2024, establishing itself as a vital component of international trade logistics:
- Performance Indicators: The China-Europe (Asia) Railway Express operation index reached 115.2 in January-February, with a freight index of 113.7. The dedicated China-Europe route showed an operation index of 109.3 and freight index of 110.1, while the Central Asia route outperformed with 125.9 and 122.9 respectively.
- Volume Statistics: During this period, the railway network operated 4,791 trains carrying 452,000 TEUs (twenty-foot equivalent units). The China-Europe route accounted for 2,928 trains (316,000 TEUs), with the Central Asia route handling 1,863 trains (136,000 TEUs).
- Key Routes: The Chang'an (Xi'an) and Chengdu-Chongqing routes have emerged as top performers, while border ports like Alashankou, Khorgos, Erenhot, Mohan, and Suifenhe all demonstrated operation indices above 100, indicating strong capacity and growth potential.
Port Throughput Shows Steady Growth
China's ports handled 2.61 billion tons of cargo in the first two months of 2024, an 8.1% year-on-year increase. International trade accounted for 32.7% of this volume (860 million tons), growing at 10.5%. Container throughput reached 50 million TEUs with a development index of 112.1, reflecting the growing importance of ports in global trade networks.
Analysis of Key Shipping Demand Patterns
The railway network shows distinct patterns in trade flows:
Export Hotspots
Xi'an, Chongqing, and Chengdu dominate export demand, collectively accounting for 70.6% of total freight volume. The top export routes lead to Malaszewicze, Poland, with Xi'an-Malaszewicze (26.4%), Chongqing-Malaszewicze (21.8%), and Chengdu-Malaszewicze (13.9%) comprising 62.2% of total export traffic.
Import Hotspots
Leading import routes include Łódź-Chengdu (12.8%), Mannheim-Wuhan (12.7%), and Duisburg-Yiwu (11.4%), totaling 36.8% of imports. These primarily bring European manufactured goods to Chinese markets.
Commodity Breakdown
Exports are dominated by mechanical and electrical products (40.1%), plastic goods, furniture, steel, footwear, clothing, precious metal jewelry, and basic organic chemicals (totaling 73.4% of exports). Imports consist mainly of finished industrial goods (38.8% mechanical/electrical), intermediate industrial products, and fast-moving consumer goods including plastics, food products, steel, cosmetics, rubber, furniture, and paper products (72.9% of imports).
Regional Trade Performance
Shanghai and Shenzhen lead China's trade hubs with over 500 billion yuan in import-export volume during the period. Eleven of sixteen major trade cities showed growth, with eight (including Shenzhen, Suzhou, Qingdao, Ningbo, Xi'an, Wuhan, Hefei, and Ürümqi) demonstrating increases across all three metrics: total trade, exports, and imports.
Shanghai's historical position as a maritime trade hub dates back to the ancient Maritime Silk Road, when its strategic location at the Yangtze River delta made Qinglong Town a crucial nexus for both commercial and cultural exchange.