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China's General Administration of Customs released data showing that the country's foreign trade witnessed relatively stable growth during the first four months of 2023, with total imports and exports expanding 5.8 percent year on year to 13.32 trillion yuan. From February to April, foreign trade increased every subsequent month by 8 percent, 15.5 percent and 8.9 percent. A 5.8 percent growth of imports and exports in the first four months is 1 percentage point higher than the growth rate of the first quarter of this year, which was 4.8 percent. As global economic growth is "somehow currently stagnant," Ding Yifan, senior follow at the Taihe Institute, told CGTN that China cannot afford to import too many materials without being able to put those materials into production or yield more manufactured goods. Meanwhile, Chinese exports have become more diversified. With the development of the BRI and ASEAN countries, Chinese trade with those countries is growing much faster than exports to traditional European and American markets. In future, Chinese exports will focus mainly on global sources as it is engaging in stronger cooperation with developing countries.
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Copyright © 2023 CGTN. 京ICP备16065310号
Disinformation report hotline: 010-85061466
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Copyright © 2023 CGTN. 京ICP备16065310号
Disinformation report hotline: 010-85061466