China's foreign trade to sustain growth with resilience, potential
China's foreign trade is expected to maintain steady growth despite a challenging external environment, as the country continues to strengthen endogenous impetus and expand multilateral economic and trade relations, experts have said, according to Xinhua.
China's foreign trade to sustain growth with resilience, potential
The Economics of Geography

China's foreign trade to sustain growth with resilience, potential

Photo: AFP/Cfoto
Eurasia 20/08/2023 12:05

China's foreign trade is expected to maintain steady growth despite a challenging external environment, as the country continues to strengthen endogenous impetus and expand multilateral economic and trade relations, experts have said, according to Xinhua.

China's imports and exports expanded 0.4 percent year on year to total 23.55 trillion yuan (about 3.29 trillion U.S. dollars) in the first seven months of 2023, according to the General Administration of Customs (GAC), the news agency added.

Since the second quarter, the country's monthly trade scale has remained above 3.4 trillion yuan.

In July alone, China's foreign trade totaled 3.46 trillion yuan, up 25.7 percent from July 2019 and 4.5 percent above the 2020-2022 July average.

The latest data was in line with expectations, and China's foreign trade maintained stable operations, GAC spokesperson Lyu Daliang said.

The fundamentals for long-term growth have not changed, Lyu added.

#trade #China
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