BEIJING — Amid effective epidemic containment measures, China sustained its upward momentum in commerce and foreign trade last year, with a stellar performance to achieve stable business operation, according to the Ministry of Commerce.
China has become the world's second-largest commodity consumption market, with its total trade volume of goods ranking first globally for five consecutive years, the ministry told a press conference on Jan 25.
The following statistics offer an overview of the country's commerce and foreign trade performance in 2021.
— Last year, China's retail sales of consumer goods rose 12.5 percent year-on-year to 44.1 trillion yuan (about $6.93 trillion). Consumption has re-established itself as the key driver of economic development, accounting for 65.4 percent of total expenditure.
— Spending in catering and other services saw an orderly recovery, with catering income increasing by 18.6 percent from a year ago, close to the pre-epidemic level.
— As new consumption models further developed, China's online sales of physical goods expanded by 12 percent year-on-year to 10.8 trillion yuan in 2021, accounting for 24.5 percent of the total retail sales during the period.
— China's foreign trade moved up another notch and exceeded $6 trillion for the first time in 2021. The total import and export of goods expanded 21.4 percent year-on-year to 39.1 trillion yuan. Exports rose 21.2 percent, while imports went up 21.5 percent.
— The country's service trade saw faster upgrades, rising 14.7 percent year-on-year to reach 4.7 trillion yuan in the first 11 months of the year.
— Foreign direct investment into the Chinese mainland, in actual use, expanded 14.9 percent year on year to a record high of 1.15 trillion yuan in 2021. Investment in the Chinese mainland from countries along the Belt and Road soared 29.4 percent.
— China's outbound direct investment rose 2.2 percent to 936.69 billion yuan last year, with that into countries along the Belt and Road increasing 7.9 percent from a year ago.
— The Regional Comprehensive Economic Partnership agreement, signed by 15 Asia-Pacific countries including China, has entered into force, creating the world's largest trade bloc.
— Last year, China also filed applications to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and the Digital Economy Partnership Agreement.
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