China's foreign trade demonstrated robust growth in the first 11 months of 2024, reaching a total value of 39.79 trillion yuan ($5.49 trillion). This marks an impressive increase of 4.9 percent compared to the same period last year.
Breaking down the figures, exports totaled 23.04 trillion yuan, reflecting a significant growth of 6.7 percent, while imports reached 16.75 trillion yuan, up by 2.4 percent. This steady balance highlights China's continued strength in the global market.
The surge in trade was particularly notable in general trade and processing trade. General trade value climbed to 25.5 trillion yuan, a 3.7 percent increase, making up 64.1 percent of the total foreign trade. Meanwhile, processing trade grew by 3.6 percent to 7.22 trillion yuan, accounting for 18.1 percent of the total.
China's top trading partners remained consistent, with ASEAN leading the pack with an 8.6 percent growth in bilateral trade. The European Union followed with a 1.3 percent increase, the United States saw a 4.2 percent rise, and South Korea grew by 6.3 percent.
In response to these positive trends, China unveiled a series of policy measures in November aimed at promoting the stable growth of foreign trade. The Ministry of Commerce, the General Administration of Customs, and other departments have introduced initiatives to accelerate the integrated development of domestic and foreign trade. These measures also focus on optimizing the business environment at ports and facilitating customs clearance for enterprises.
Reference(s):
cgtn.com
