CHINA’S AGRICULTURAL FOREIGN TRADE FLOWS: TRENDS, CHALLENGES, AND OPPORTUNITIES

Abstract

In 2023, China’s foreign trade in agricultural products has achieved remarkable results. China’s total import and export of agricultural products was US$333.035 billion, of which exports were US$98.929 billion and imports were US$234.106 billion. The development of China’s agricultural exports has effectively promoted the in-depth extension and diversification of the agricultural value chain, opening up new space for promoting high-quality agricultural development. In 2023, China’s exports of vegetables and products were US$13.97 billion, an increase of 9.6 % over the same period last year; exports of fruits and products were US$7.08 billion, an increase of 2.2 % over the same period last year; exports of feed were US$3.95 billion, an increase of US$3.95 billion compared with the same period last year. The export value of cereal products increased by 1 % over the same period, reaching US$2.87 billion; the export value of nuts and products, spices and alcohol increased by 7.7 %, 29.7 % and 38.5 % respectively compared with the same period last year [8]. At the same time, China has canceled non-tariff measures on agricultural products and export subsidies for all agricultural products, making China one of the countries with the most open agricultural market. Quality promotes development, and the scale and quality of agriculture going global continue to improve. But when it comes to imports, China is still one of the largest importing countries in the world. This is due to China’s small cultivated land area, large population base, and lack of intensification, technology, and mechanization of the tangible agricultural industry. For agricultural products with high economic added value, China is still very dependent on imports and is subject to various trade barriers and tariffs in the world. Policy restrictions and dependence on imports are very obvious. However, through the analysis of trends in the two five-year plans from 2014 to 2022, we have also seen that the Chinese government has been committed to improving the relationship between the import and export of agricultural products and China’s contradictions, promoting the smooth operation of the economy, and has achieved very good results.