China’s foreign trade has witnessed steady growth in the first 11 months of the year, according to data released by the General Administration of Customs (GAC) on Tuesday. The total value of goods imports and exports reached 39.79 trillion yuan (approximately $5.7 trillion), marking a 4.9 percent year-on-year increase in yuan terms.
Exports surged by 6.7 percent compared to the same period last year, totaling 23.04 trillion yuan (approximately $3.5 trillion). Imports also saw an uptick, rising by 2.4 percent to 16.75 trillion yuan (approximately $2.5 trillion). This growth reflects a resilient economy and robust global demand for Chinese products despite ongoing global economic challenges.
Analysts attribute this positive trend to China’s effective trade policies and its efforts to stabilize supply chains. The diversification of markets and the adaptation of businesses to new trade models have also played significant roles in bolstering trade figures.
The increase in imports indicates a strong domestic market with a growing appetite for foreign goods and raw materials, contributing to balanced trade development. Industries across China have been leveraging innovation and technology to enhance competitiveness, further fueling trade momentum.
As the global economy continues to navigate uncertainties, China’s steady trade growth offers a positive outlook for international trade relations. Business professionals and investors are keeping a close eye on these developments, anticipating continued opportunities in the Asian markets.
Reference(s):
Chart of the Day: China's foreign trade up 4.9% in first 11 months
cgtn.com
