First Ten Months See 5.2 Percent Increase in China's Foreign Trade
According to the latest customs data, China's foreign trade for the first ten months of this year amounted to 36.02 trillion yuan (approximately $5 trillion), reflecting a consistent year-on-year increase of 5.2 percent.
TroibNews 
China's foreign trade reached 36.02 trillion yuan in the first ten months of this year, reflecting a steady year-on-year increase of 5.2 percent, as per the latest customs data.
Exports totaled 20.80 trillion yuan, marking a rise of 6.7 percent, while imports were valued at 15.22 trillion yuan, up 3.2 percent, according to the General Administration of Customs on Thursday.
Trade with countries involved in the Belt and Road Initiative experienced robust growth, amounting to 16.94 trillion yuan, which is a 6.2 percent year-on-year increase. Specifically, trade with ASEAN countries reached 5.67 trillion yuan, an 8.8 percent increase, making up 15.7 percent of China's total foreign trade and reinforcing ASEAN's status as China's largest trading partner.
During the same timeframe, trade with the EU, the U.S., and South Korea was recorded at 4.64 trillion yuan, 4.01 trillion yuan, and 1.91 trillion yuan, with respective growth rates of 1.2 percent, 4.4 percent, and 6.7 percent.
Lyu Daliang, director of the Statistics and Analysis Department at the General Administration of Customs, shared insights on the positive developments, highlighting that the growth rate for imports and exports accelerated by nearly four percentage points in October compared to September, attributing this trend to recent policy actions by the Chinese government.
This continued growth illustrates improvements in both scale and quality within China's foreign trade, positioning the government to achieve its goals for stability and enhancement in trade by the end of the year, Lyu stated.
Thomas Evans contributed to this report for TROIB News
Exports totaled 20.80 trillion yuan, marking a rise of 6.7 percent, while imports were valued at 15.22 trillion yuan, up 3.2 percent, according to the General Administration of Customs on Thursday.
Trade with countries involved in the Belt and Road Initiative experienced robust growth, amounting to 16.94 trillion yuan, which is a 6.2 percent year-on-year increase. Specifically, trade with ASEAN countries reached 5.67 trillion yuan, an 8.8 percent increase, making up 15.7 percent of China's total foreign trade and reinforcing ASEAN's status as China's largest trading partner.
During the same timeframe, trade with the EU, the U.S., and South Korea was recorded at 4.64 trillion yuan, 4.01 trillion yuan, and 1.91 trillion yuan, with respective growth rates of 1.2 percent, 4.4 percent, and 6.7 percent.
Lyu Daliang, director of the Statistics and Analysis Department at the General Administration of Customs, shared insights on the positive developments, highlighting that the growth rate for imports and exports accelerated by nearly four percentage points in October compared to September, attributing this trend to recent policy actions by the Chinese government.
This continued growth illustrates improvements in both scale and quality within China's foreign trade, positioning the government to achieve its goals for stability and enhancement in trade by the end of the year, Lyu stated.
Thomas Evans contributed to this report for TROIB News
