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Moving to trade data now. Fresh figures from the Chinese General Administration of Customs show that China's global trade in goods increased 9.1 percent, year-on-year, to 19 trillion yuan in the first eight months of 2018. The customs administration said that exports rose 7.9 percent while imports jumped 18.8 percent. Still, analysts have concerns over whether the robust growth can be sustained. Let's hear from some experts.
China's trade with major partners rose during the January-to-August period. That includes EU, US and ASEAN countries. Oxford professor Fu Xiaolan says the August figures are strong, and even though China's trade may face downside risks, there's a chance now to transform the country's trading structure.
Recently there's increasing debate on whether domestic demand could act as stabilizer of the economy amid the trade tensions. This expert tends to believe that given still-limited individual disposable income in China, there's a need to stick to exploring broader opportunities in the global consumer market.
As for enterprises, since China is deeply embedded in the global value chain, its companies will have to do more to identify their strengths, and use them to their advantage.
The renowned economist Zhang Weiying says continuing the reform and opening up are vital to sustaining the growth.
Over the last four decades, China has orchestrated a period of unprecedented economic growth and social development, demonstrating an ability to tackle big challenges. The current global trade tensions may prove to be exactly that kind of challenge. CGTN.