Beijing: China’s foreign trade reached 36.02 trillion yuan (about 5 trillion US dollars) in the first 10 months of this year, representing a steady year-on-year growth of 5.2 percent, according to the latest customs data.
The country’s exports reached 20.80 trillion yuan, an increase of 6.7 percent, while imports reached 15.22 trillion yuan, an increase of 3.2 percent, the General Administration of Customs said Thursday.
China’s trade with partner countries in the Belt and Road Initiative witnessed strong growth, totaling 16.94 trillion yuan, an increase of 6.2 percent year on year. It is worth noting that trade with ASEAN countries reached 5.67 trillion yuan, an increase of 8.8 percent and accounting for 15.7 percent of China’s total foreign trade, which strengthened ASEAN’s position as China’s largest trading partner.
In the same period, the value of China’s trade with the European Union, the United States, and South Korea amounted to 4.64 trillion yuan, 4.01 trillion yuan, and 1.91 trillion yuan, with growth rates of 1.2 percent, 4.4 percent, and 6.7 percent over straight.
Liu Daliang, Director of the Statistics and Analysis Department of the General Administration of Customs, commented on the positive trends, noting that the growth rate of imports and exports accelerated by about four percentage points in October compared to September, following the Chinese government’s recent policy. procedures.
Liu said this sustained growth reflects an improvement in volume and quality in China’s foreign trade, making the government’s goals of stabilizing and promoting trade achievable by the end of the year.