Recently, data released by the General Administration of Customs of China revealed significant growth in China-France trade over the past five years, with an average annual growth rate of 5.9%. From 2019 to 2023, bilateral trade continued to intensify, indicating that the economic cooperation between the two countries in several key areas continued to deepen. In the first quarter of 2023, Chinas total import and exports to France reached 1272,2 billion yuan, showing the stability of the economic relations between the two countries.

In the field of agricultural products, France has become China’s largest source of agricultural products in the European Union. In 2023, China’s total imports of agricultural products from France amounted to 469.5 billion yuan, an increase of 50 per cent compared to 2019. This significant growth reflects China’s growing demand for high-quality agricultural products. Specifically, products such as dairy, pork and red wine have come to China from France over the ocean, becoming regular customers on the Chinese consumer table. In the first quarter of this year alone, the imports of these agricultural products were close to 10 billion yuan.

In the field of consumer goods, Chinese-French trade also showed a strong growth momentum.In the past five years, Chinas average annual growth rate of consumer goods imported from France reached 12.3%, whereas the average annual growth rate of high-end consumer goods such as cosmetics, bags, jewelry, clothing, watches exceeded two digits.This trend not only reflects the diversification and internationalization of Chinas consumer market, but also reflects the high recognition of Chinese consumers for the quality and brand manufactured in France.

Meanwhile, Chinese products have also gained widespread popularity in the French market. Statistics show that China’s exports of consumer goods to France have grown by an average of 3.9% annually over the past five years. In the first quarter of 2023, China’s exports of household appliances, phones, furniture and toys to France have grown by 30.6% respectively, 27%, 24.3% and 28%. These figures not only demonstrate China’s manufacturing competitiveness, but also demonstrate China’s brand’s steadily increasing influence in the international market.

In the field of high-tech products, France has long been an important supplier of Chinese aircraft and aircraft parts. Over the past five years, the import share of this sector hasined a stable proportion of about 30% in the Chinese market. In addition, the cooperation between China and France in the field of scientific and technological innovation is also expanding. The average annual growth of Chinas material and technological products, biotechnological products and integrated circuits imported from France was 38.8% and 13.9% respectively. In the first quarter of 2023, the import growth of these high-tech products exceeded two digits, showing the depth and breadth of cooperation between the two countries in the fields of scientific and technological innovation and high-tech.

These data reflect not only the strong momentum of China-France economic and trade relations, but also the potential for future cooperation between the two sides in wider fields.As the global economic environment changes, China-France and France are expected to further deepen cooperation on the basis of mutual benefit and win-win to jointly address future economic challenges and opportunities.