China's foreign trade for 2018 already exceeds 2017

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China's total foreign trade volume has exceeded the whole of last year as of mid-November with a jump of nearly 15 percent, posting double-digit growth for two consecutive years, according to the General Administration of Customs.

In 2017, total import and export value of China's trade in goods stood at 27.79 trillion yuan, a surge of 14.2 percent over 2016.

Statistics also indicated a further improved trade structure, higher economic efficiency and enormous growth momentum that looming uncertainties failed to hold back, as evidenced by China's incremental trade with its major partners.

Private enterprises still exerted a positive role in trade growth and maintained its dominant position in stepping up the second largest economy's export, whose trade volume surged by 11.2 percent to 6.38 trillion yuan in first 10 months, occupying 47.8 percent of total export.

Benefited from the constantly improved business environment, cross-border e-commerce and market purchase trade have continued to surge ahead after going through rapid growth for two consecutive years, serving as a new growth driver for foreign trade.

China advanced to a global ranking of 46 this year in the business climate, up from 78 last year, according to World Bank's Business and Environment Report for 2019.

It is noteworthy that import remains a key driving force for foreign trade increment. China's imports went up by 15.5 percent from January to October, contributing 61.7 percent to the total rise in foreign trade.