Data Explorer | Private enterprises drive over 60% of Guangdong’s foreign trade in 2024

According to data from the Guangdong Sub-Administration of GACC, private enterprises within the province accounted for 63.6% of the total trade volume in 2024. Private businesses reached an impressive 5.8 trillion RMB in imports and exports, marking a 15.2% year-on-year increase. This surge underscores the vital role of private enterprises in Guangdong's high-level opening up and the province's push for high-quality trade development. By the end of 2024, the number of private enterprises in the province reached 7.74 million, marking a year-on-year increase of 6.86%.

A crucial driver behind this success is the rising influence of Authorized Economic Operators (AEOs) — businesses certified with the highest level of customs credit. AEOs made up only 1.38% of Guangdong's foreign trade firms but contributed 43.9% of the province's total foreign trade in 2024. Among them, private AEO firms played a significant role, with a combined trade value of 2 trillion RMB, accounting for 22.34% of Guangdong's total trade.

The Guangdong Sub-Administration of GACC has introduced a series of measures to further streamline trade procedures and foster a more efficient customs experience. By the end of 2024, over 2,000 AEO companies had been registered in Guangdong, accounting for nearly a third of China's total AEO enterprises.

As Guangdong continues to strengthen its foreign trade capabilities, private enterprises will remain central to the province's economic success, driving both innovation and growth in international markets.