China's foreign trade hits a new record in 2021.

(Xinhua) – China's foreign trade climbed another notch in 2021, surpassing $6 trillion for the first time, despite the COVID-19 pandemic continuing to weigh on global trade, official data showed on Friday.

Total merchandise trade amounted to $6,05 trillion, an increase of $1,4 trillion from the previous year, according to the General Administration of Customs (GAC).

The volume of trade in yuan terms increased 21,4% year-on-year to 39,1 trillion yuan, with exports rising 21,2% to 21,73 trillion yuan and imports 21,5% to 17,37 trillion yuan.

"China has been at the forefront of economic development and the global pandemic response, and has maintained rapid growth in foreign trade, which has recorded record volumes and steady progress in quality," said GAC spokesperson Li Kuiwen.

The country's imports and exports with its three main trading partners - ASEAN, the European Union and the United States - increased by 19,7%, 19,1% and 20,2%, respectively, while its trade with Japan and the Republic of Korea rose by 9,4% and 18,4%.

The volume of trade with economies involved in the Belt and Road Initiative registered an above-average increase of 23,6%.

China's hard-won commercial growth coincided with a resurgence of COVID-19 infections, dominated by the Delta and Omicron variants, causing a major blow to the global supply chain and seriously disrupting the flow of goods.

While many parts of the world struggled with factory shutdowns and congestion at ports and railway stations, China, the first to recover from the shock of the pandemic, transported desperately needed goods, from daily necessities to electronics and medicines, quickly and safely to markets around the globe.

China's exports of medical supplies and pharmaceuticals more than doubled last year, and products related to the stay-at-home economy, such as laptops and home appliances, saw a 13,2% increase following already strong growth in 2020.

The hundreds of millions of face masks, protective suits, test kits, and vaccine doses provided by China to the global community since the COVID-19 outbreak have helped combat the pandemic and facilitated global economic recovery, Li said.

Meanwhile, the country's robust imports also gave a boost to economies around the world that were still suffering from the pandemic.

In 2021, China's purchases of intermediate and consumer goods from abroad increased by 24,9% and 9,9%, respectively, compared to a year earlier in 2021, according to GAC data. The country's imports accounted for 12,1% of the world total in the first three quarters of 2021, an increase of 0,5 percentage points compared to the previous year.

"China's wider opening has allowed the world to enjoy more dividends from its economic growth and thriving consumption," Li said. The country became the world's second-largest importer in 2009.

Friday's data also added to the evidence of a resilient Chinese economy and reassured investors and global observers that the country remains a powerful engine of global growth and development.

Dynamic exports have become a pillar of China's economy, said Zhang Zhiwei, chief economist at Pinpoint Asset Management.

China's foreign trade reached $4 trillion in 2013 and surpassed $5 trillion and $6 trillion simultaneously in 2021. The increase in trade last year is equivalent to the total volume in 2005.

Thanks to dynamic trade, the Chinese economy was expected to end 2021 on a strong note and start this year well. In its latest forecasts, the World Bank put China's real GDP growth for 2021 at around 8%, moderating slightly in 2022 to a still solid 5,1%.

"The country's exports will remain strong in the first quarter of this year, as global demand remains robust and the pandemic worsens in many developing countries," Zhang said.

The National Bureau of Statistics will release a series of economic indicators for 2021 on Monday, including the country's GDP, industrial production, fixed asset investment, and retail sales.

Despite a satisfactory 2021, Li highlighted that China's foreign trade will face increasing uncertainty and instability this year, as the pandemic remains severe worldwide and the recovery in global demand is slowing.

"Given these difficulties and challenges, we must recognize that China's economy is resilient and its solid long-term fundamentals will remain unchanged," Li said, expressing unwavering confidence in the stabilization of foreign trade.

The Chinese government released new guidelines on Tuesday to ease pressure on foreign trade companies and maintain stable exports and imports.

The guidelines detail measures including fiscal and financial support for foreign trade companies, incentives for new forms of business, and efforts to alleviate supply chain risks and further increase trade liberalization and facilitation.

Also good news for China's efforts to maintain trade growth, the Regional Comprehensive Economic Partnership (RCEP) agreement, signed by 15 Asia-Pacific countries, including China, came into effect on January 1st, creating the world's largest trading bloc.

China's imports and exports with the other 14 RCEP members combined increased 18,1% year-on-year to 12,07 trillion yuan in 2021, representing 30,9% of the country's total foreign trade.