China in a Decade: New concept spurs greater development, and a new era unleashes stronger dynamic (part II)

VI. Open development elevated to a higher level, forming a new pattern of comprehensive openness

In 2020, China’s total trade in goods and services reached 5.3 trillion USD, surpassing the United States for the first time, and becoming the world’s largest trading nation. In 2021, total trade in goods and services reached 6.9 trillion USD, reinforcing China’s position as the world’s No.1 trading country. Total trade in goods hit 6.05 trillion USD, an increase of 56.5% over 2012, ranking first in the world for the fifth consecutive year; total trade in services reached 821.2 billion USD, an increase of 70.1% over 2012, ranking second in the world. In 2021, general trade accounted for 61.6% of China’s total imports and exports, an increase of 9.6 percentage points over 2012. In 2021, general trade accounted for 61.6% of China’s total imports and exports, an increase of 9.6 percentage points over 2012.  As of end 2021, China had signed more than 200 agreements more than 170 countries and international organizations under the framework of the Belt and Road Initiative, and the inter-connectivity layout featuring “Six Corridors, Six Roads, Multiple Ports in Multiple Countries” had basically taken shape. From 2013 to 2021, China’s trade volume with Belt and Road countries increased from 6.5 trillion yuan to 11.6 trillion yuan, with an average annual growth rate of 7.5%, and China’s direct investment in Belt and Road countries reached 161.3 billion USD.