China's foreign trade gains momentum

CNC
Added On July 15, 2017

China's foreign trade is expanding at its fastest pace in more than five years.
 
The new data released on Thursday showed the economy continuing to do well, despite headwinds from home and abroad.
 
New customs data showed that trade continued to grow strongly in the first six months. 
 
Exports rose 15 percent year-on-year, while imports jumped over 25 percent.
 
That led to a trade surplus of 188 billion U.S. dollars, down 17.7 percent year on year.
 
Total foreign trade volume increased by 19.6 percent year on year in the first six months, the quickest pace since the second half of 2011.
 
Analysts said the brisk growth was helped by a lower comparison basis, government support and healing global demand.
 
During the first six months, trade with the EU jumped 17.4 percent from the same period last year.
 
Meanwhile, trade with the United States and ASEAN both increased by over 21 percent each.
 
Most of China's exports were machinery, electronics and labor-intensive products, with their export value accounting for 57 percent of the total.