China’s foreign trade has witnessed a remarkable surge in the first three quarters of 2024, exceeding 32 trillion yuan (approximately $4.44 trillion), according to recent data. Each quarter surpassed the 10 trillion yuan mark, setting new milestones and highlighting the resilience of the world’s second-largest economy.
Zhu Haibin, Chief China Economist at J.P. Morgan, attributed this robust growth to China’s effective economic policies and its ability to navigate global challenges. “The steady increase in foreign trade underscores the strength and adaptability of China’s economy,” Zhu remarked. “Despite headwinds from the global economic slowdown, we expect this momentum to continue over the next four years.”
The impressive 5% growth reflects China’s expanding trade partnerships and its emphasis on high-quality development. Analysts note that sectors such as technology, manufacturing, and services have significantly contributed to this upward trend.
Business professionals and investors worldwide are closely monitoring China’s trade performance. The sustained growth presents numerous opportunities for entrepreneurs and market analysts seeking to engage with the dynamic Asian markets.
Academics and researchers also find this development noteworthy, as it offers insights into economic trends and policies that could influence global trade dynamics.
As China continues to bolster its trade relations, global readers and news enthusiasts will watch keenly to see how this growth shapes economic landscapes both regionally and internationally.
Reference(s):
Economist: China's foreign trade will maintain growth momentum
cgtn.com
