July sees boost in China's foreign trade owing to robust demand
In the first seven months of this year, China's foreign trade increased by 6.2 percent, reaching 24.83 trillion yuan ($3.46 trillion). This growth has been driven by robust domestic demand, ongoing infrastructure development, and a recovery in global trade.
TroibNews 
According to data released on Wednesday by the General Administration of Customs (GAC), China's foreign trade reached 24.83 trillion yuan ($3.46 trillion) in the first seven months of this year, reflecting a year-on-year growth of 6.2 percent.
Lyu Dailiang, the spokesperson for the GAC, remarked that economic operations in China have generally remained stable, with foreign trade showing a positive trajectory since the start of the year.
During the same period, total exports were valued at 14.26 trillion yuan, marking a 6.7 percent increase, while imports amounted to 10.57 trillion yuan, which represents a 5.4 percent rise.
This robust growth has been credited to several factors, including strong domestic demand, advances in manufacturing, and a rebound in global trade.
ASEAN has retained its position as China's largest trading partner, with bilateral trade reaching 3.92 trillion yuan in the first seven months, a 10.5 percent increase from the previous year, and accounting for 15.8 percent of the nation's overall foreign trade.
In spite of ongoing trade tensions following the imposition of provisional tariffs on Chinese electric vehicles by the EU, trade between China and the EU ranked second at 3.22 trillion yuan, followed by the U.S. at 2.72 trillion yuan.
Additionally, China’s goods trade with countries involved in the Belt and Road Initiative rose by 7.1 percent, totaling 11.72 trillion yuan in the same timeframe.
Mechanical and electrical products continued to lead China's exports, making up nearly 60 percent of the total during this period.
In July alone, China’s foreign trade amounted to 3.68 trillion yuan, reflecting a year-on-year increase of 6.5 percent.
Analysts are optimistic about China’s current trade figures and prospects for the second half of the year, which is encouraging for the country's economic growth momentum.
(With input from Xinhua)
Max Fischer contributed to this report for TROIB News
Lyu Dailiang, the spokesperson for the GAC, remarked that economic operations in China have generally remained stable, with foreign trade showing a positive trajectory since the start of the year.
During the same period, total exports were valued at 14.26 trillion yuan, marking a 6.7 percent increase, while imports amounted to 10.57 trillion yuan, which represents a 5.4 percent rise.
This robust growth has been credited to several factors, including strong domestic demand, advances in manufacturing, and a rebound in global trade.
ASEAN has retained its position as China's largest trading partner, with bilateral trade reaching 3.92 trillion yuan in the first seven months, a 10.5 percent increase from the previous year, and accounting for 15.8 percent of the nation's overall foreign trade.
In spite of ongoing trade tensions following the imposition of provisional tariffs on Chinese electric vehicles by the EU, trade between China and the EU ranked second at 3.22 trillion yuan, followed by the U.S. at 2.72 trillion yuan.
Additionally, China’s goods trade with countries involved in the Belt and Road Initiative rose by 7.1 percent, totaling 11.72 trillion yuan in the same timeframe.
Mechanical and electrical products continued to lead China's exports, making up nearly 60 percent of the total during this period.
In July alone, China’s foreign trade amounted to 3.68 trillion yuan, reflecting a year-on-year increase of 6.5 percent.
Analysts are optimistic about China’s current trade figures and prospects for the second half of the year, which is encouraging for the country's economic growth momentum.
(With input from Xinhua)
Max Fischer contributed to this report for TROIB News
