China's foreign trade has kicked off 2024 with impressive momentum, signaling a promising year ahead for the world's second-largest economy. Yu Jianhua, minister of China's General Administration of Customs (GAC), announced on Monday that the nation achieved substantial growth in the first half of the year based on preliminary assessments.
During the Ministers' Corridor after the closing meeting of the second session of the 14th National People's Congress (NPC) in Beijing, Yu highlighted that in January and February alone, China's foreign trade in goods reached 6.61 trillion yuan ($930.96 billion), marking an 8.7 percent increase compared to the same period last year.
Yu emphasized that trade with Belt and Road Initiative (BRI) countries outpaced the average growth rate, climbing by nine percent in the initial two months of 2024. Additionally, emerging trade models such as cross-border e-commerce and market purchasing have demonstrated robust momentum, contributing to the overall positive outlook.
The GAC is committed to maintaining this growth trajectory to meet China's economic targets for 2024, as outlined in the recent government work report.
Looking ahead, the GAC plans to implement additional measures to streamline foreign trade processes and actively seek feedback from Chinese enterprises to enhance trade efficiency and sustainability.
Reference(s):
GAC minister: China's foreign trade achieved a good start in 2024
cgtn.com
