On October 14, during a press conference held by the State Council Information Office in Beijing, Lv Daliang, spokesperson for the General Administration of Customs and director of the Statistical Analysis Department, highlighted significant developments in the western region’s trade performance for the first three quarters of this year. According to Lv, the western region’s import and export volume reached 2.92 trillion yuan, reflecting a year-on-year increase of 8.9%.

“When we look at the growth rate of imports and exports, the western region leads all others,” he stated. This momentum follows a directive from the central government in 2020 aimed at fostering a new phase for the development of the western region. As a result, foreign trade in this area has significantly expanded, with annual import and export values surpassing 3 trillion yuan and moving briskly towards 4 trillion yuan, achieving an average annual growth rate of 8.5%. Notably, the growth rate for the first three quarters of this year was 3.6 percentage points higher than the national average, with the western region’s contribution to the total import and export value of the country increasing to 9%.

Lv also emphasized the qualitative upgrades within the foreign trade industry. For instance, the western region exported 1.18 trillion yuan worth of electromechanical products, marking a 13.3% increase—outpacing the national growth rate for similar products. Specific highlights included a 27.2% rise in the export of integrated circuits and a 6.7% increase in computer and component exports, which account for 30% and 22.7%, respectively, of the national totals for these categories. Additionally, new product exports saw a 7.9% increase, while high-tech specialized equipment exports surged by 32.6%.

Furthermore, the vitality of business entities within the region is or promising. In the first three quarters, the number of foreign trade enterprises with import and export activity reached 36,000, reflecting a 14.6% increase. Notably, private enterprises excelled with imports and exports totaling 1.61 trillion yuan, a 12.8% rise that constituted 55.4% of the region’s total trade for the same period. Foreign investment enterprises in the western region also performed well, with their import and export volumes climbing by 9%, leading growth compared to other areas.

Lastly, the development of new trade corridors has revitalized the region’s foreign trade landscape. The Western Land-Sea New Corridor has facilitated openness and development along its route, resulting in 513.79 billion yuan in trade through this new channel, an impressive 15% growth in the first three quarters.