Beijing: The total value of foreign trade for the Beijing-Tianjin-Hebei region in northern China reached 5.03 trillion yuan (USD 701.7 billion) in 2024, marking a record high and maintaining a growth trend for the fourth consecutive year.

According to Qatar News Agency, private companies have shown vitality and resilience, becoming a key driver of foreign trade in the Beijing-Tianjin-Hebei region, with the total value of their foreign trade reaching 1.21 trillion yuan last year, a year-on-year increase of 8.9 percent.

Regarding high-tech and new products, the region's exports of vehicles, mobile phones, and wind turbine generator systems reached 94.03 billion yuan, 72.76 billion yuan, and 5.12 billion yuan, respectively, with increases of 56.4 percent, 24.7 percent, and 58.3 percent.

The value of production in two manufacturing sectors in the region, life and health, and advanced equipment for electricity and new energy, accounted for more than 20 percent of the national total in their respective sectors. The industrial scope for the new generation of IT application innovation and network security in the region exceeded half of the national total.

The Beijing-Tianjin-Hebei region, located in northern China and facing east towards the coast of the South China Sea, is a significant hub for China's imports of essential goods. In 2024, the region imported essential goods worth 1.88 trillion yuan, accounting for 34.7 percent of the total value of similar imports nationwide.