China had 531,000 enterprises engaged in exports and imports in 2020, an increase of 6.2 percent year-on-year, according to the latest foreign trade data released by the General Administration of Customs.

China's private sector registered 14.98 trillion yuan ($2.31 trillion) in foreign trade last year, up 11.1 percent on a yearly basis, accounting for 46.6 percent of the country's total foreign trade volume, 3.9 percentage points higher than the previous year.

The private sector played an important part in stabilizing the country's foreign trade, further consolidating its role as the major foreign trade entities, said Li Kuiwen, the spokesman for the administration.

Foreign-invested companies recorded 12.44 trillion yuan in foreign trade in 2020, taking up 38.7 percent of the country's total foreign trade volume, while China's State-owned enterprises generated 4.61 trillion in imports and exports, accounting for 14.3 percent of the nation's total foreign trade volume.