China’s Foreign Trade Grows 6.2% to 24.83 Trillion Yuan in First Seven Months
China’s foreign trade surged to 24.83 trillion yuan ($3.46 trillion) in the first seven months of this year, showcasing a robust year-on-year increase of 6.2 percent, as reported by the General Administration of Customs (GAC) on Wednesday.
The sustained growth reflects China’s resilient economy amid global uncertainties. Lyu Dailiang, spokesperson for the GAC, emphasized that the nation’s economic operations have remained generally stable, with foreign trade maintaining a positive trajectory since the beginning of the year.
Breaking down the figures, exports amounted to 14.26 trillion yuan, registering a 6.7 percent increase, while imports climbed to 10.57 trillion yuan, up by 5.4 percent.
The impressive performance is attributed to several key factors, including strong domestic demand, advancements in manufacturing technologies, and a rebound in global trade activities. China’s commitment to innovation and upgrading of its industrial sectors has bolstered its export competitiveness.
“The steady growth in foreign trade demonstrates the resilience of China’s economy and its deepening integration with the global market,” Lyu stated.
Business analysts suggest that supportive government policies and ongoing recovery in international markets are likely to sustain this momentum. The growth offers promising opportunities for global investors and underscores China’s significant role in driving worldwide economic recovery.
For Asian businesses and investors, the uptick in China’s trade signals positive implications for regional supply chains and market dynamics. Scholars and researchers also view this trend as an indicator of shifting economic patterns in Asia.
Reference(s):
China's foreign trade picks up speed in July due to strong demand
cgtn.com
