China's foreign trade reached new heights in the first quarter of 2024, expanding by 5 percent year on year in yuan terms. According to the General Administration of Customs (GAC), the total import and export of goods stood at 10.17 trillion yuan (approximately $1.43 trillion).
Exports showed significant growth, increasing by 4.9 percent to reach 5.74 trillion yuan. Imports also rose by 5 percent, totaling 4.43 trillion yuan. This robust performance underscores China's position as the world's second-largest economy and highlights the resilience and dynamism of its trade sector.
The consistent growth in both imports and exports indicates a balanced expansion, reflecting strong demand both domestically and internationally. As global markets continue to recover and evolve, China's trade figures set a positive tone for the remainder of the year.
Reference(s):
cgtn.com
