China's foreign trade showed robust growth in the first eight months of this year, with total goods imports and exports expanding by 6 percent compared to the same period last year, official data revealed on Tuesday.
Exports rose by 6.9 percent year-on-year from January to August, while imports increased by 4.7 percent, according to the General Administration of Customs. This growth highlights China's resilient economic performance amid global challenges.
The Association of Southeast Asian Nations (ASEAN) remains China's largest trading partner, with imports and exports to ASEAN countries reaching 4.5 trillion yuan ($63.2 billion). This marks a 10 percent increase and accounts for 15.7 percent of China's total import and export value during the same period.
The European Union and the United States followed as China's second and third-largest trading partners, respectively, underscoring the diverse global reach of China's trade network.
Additionally, trade with Belt and Road countries saw significant growth, with imports and exports totaling 13.48 trillion yuan, up by 7 percent in the first eight months. This reflects the ongoing strength of the Belt and Road Initiative in fostering international trade ties.
Private and foreign-funded enterprises also contributed to the trade boom. Imports and exports from private enterprises amounted to 15.74 trillion yuan, a year-on-year growth of 10.5 percent. Meanwhile, foreign-invested enterprises recorded imports and exports of 8.4 trillion yuan, increasing by 1.5 percent annually.
China's trade surplus widened by 11.2 percent to reach $608.49 billion during this eight-month period, indicating strong demand for Chinese goods globally.
Reference(s):
cgtn.com
