China's foreign trade and consumption "have maintained steady growth"
Since the start of the year, China has consistently advanced in business activities, attaining high-quality development, according to Li Yongsha, deputy international trade negotiator of China's Ministry of Commerce (MOFCOM), who spoke at a press conference on Friday.
TroibNews 
Since the start of this year, China has made consistent advancements in business activities, demonstrating high-quality development and positively impacting the national economy, according to Li Yongsha, deputy international trade negotiator of China's Ministry of Commerce (MOFCOM), during a press conference on Friday.
Li highlighted that consumption has grown steadily, with total retail sales of consumer goods reaching 23.6 trillion yuan ($3.3 trillion) in the first half of this year, marking a 3.7 percent increase.
Foreign trade has also seen continued growth. Imports and exports of goods and services rose by 6.1 percent and 14 percent, respectively, in the first half of 2024, contributing 13.9 percent to economic growth.
A survey conducted by the ministry covering 16,000 key foreign trade foreign-funded enterprises revealed that over 70 percent expect their exports to grow this year, Li noted.
Moreover, overseas investment and cooperation have expanded quickly. Foreign non-financial direct investment amounted to 516 billion yuan in the first half of this year, up by 19.5 percent. Additionally, the ministry organized 12 round tables with foreign-funded enterprises to enhance the business environment. The first half of this year saw the establishment of 27,000 new foreign-funded enterprises, with actual use of foreign investment reaching 498.9 billion yuan.
Li mentioned that the ministry plans to broaden institutional opening and deepen the reform of the foreign trade system. The foreign investment and outbound investment management systems will be further opened up to contribute more significantly to the promotion of Chinese modernization, Li added.
Mathilde Moreau contributed to this report for TROIB News
Li highlighted that consumption has grown steadily, with total retail sales of consumer goods reaching 23.6 trillion yuan ($3.3 trillion) in the first half of this year, marking a 3.7 percent increase.
Foreign trade has also seen continued growth. Imports and exports of goods and services rose by 6.1 percent and 14 percent, respectively, in the first half of 2024, contributing 13.9 percent to economic growth.
A survey conducted by the ministry covering 16,000 key foreign trade foreign-funded enterprises revealed that over 70 percent expect their exports to grow this year, Li noted.
Moreover, overseas investment and cooperation have expanded quickly. Foreign non-financial direct investment amounted to 516 billion yuan in the first half of this year, up by 19.5 percent. Additionally, the ministry organized 12 round tables with foreign-funded enterprises to enhance the business environment. The first half of this year saw the establishment of 27,000 new foreign-funded enterprises, with actual use of foreign investment reaching 498.9 billion yuan.
Li mentioned that the ministry plans to broaden institutional opening and deepen the reform of the foreign trade system. The foreign investment and outbound investment management systems will be further opened up to contribute more significantly to the promotion of Chinese modernization, Li added.
Mathilde Moreau contributed to this report for TROIB News
