China Economy: Trade volume up 9 percent in first 4 months
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02:32
Data released by the Ministry of Commerce on Thursday shows that China's total trade volume exceeded nine trillion yuan in the first four months of this year. That was an increase of nearly 9 percent from the same period last year. CGTN's Wang Hui has the story.
The Ministry of Commerce said that the total trade volume of imports and exports exceeded nine trillion yuan, up nearly 9 percent from the year before. The volume of exports was nearly five trillion yuan, a rise of more than 6 percent. Imports came in at more than four trillion yuan. That was a jump of nearly 12 percent. The trade surplus was more than 500 billion yuan, down about 24 percent.
GAO FENG, SPOKESMAN MINISTRY OF COMMERCE "As we have reiterated, China is not purposefully pursuing a trade surplus. This was totally caused by the market, and it changes according to changes of the market. China will expand its imports from its own initiative."
Gao said that the improved trade environment would likely continue throughout the year. He said that the numbers reflect an improved global economy as well as a release of pent-up domestic demand. The spokesman said that the ministry also hopes that US-China trade can become a strong driving force behind global economic growth.
WANG HUI BEIJING "China and the US held their first round of negotiations on May 3rd and 4th in an effort to resolve their ongoing trade disputes. The two countries discussed some key issues, including the trade imbalance, two-way investments, and protecting intellectual property rights. The US and China reached a consensus on some of the issues and agreed to continue negotiating the others."
The leaders of the two countries agreed after last week's talks to reach a win-win result in resolving the dispute. Chinese Vice Premier Liu will be in Washington next week to continue negotiations with the Americans. Gao said that both nations' working teams are discussing the talks. He also said that Beijing isn't looking to get into a trade war with the United States.
GAO FENG, SPOKESMAN MINISTRY OF COMMERCE "China doesn't hope to get involved in a trade war, but is not afraid of one. I hope under the guidance of the two leaders, the two sides will abide by the principles of mutual respect and negotiation on equal footing. The two countries will continue to increase communications, work together pragmatically, and manage differences, in the interest of stable economic and trade relations."
Wang Hui, CGTN, Beijing.