Pic: Adobe Stock/gui yong nian
Exports exhibited a strong 10.6 per cent increase, while imports displayed a marginal rise of 0.02 per cent during the same period. The data also indicated notable trade growth with specific regions; trade with the Association of Southeast Asian Nations (ASEAN) and the European Union (EU) expanded by 13.9 per cent and 4.2 per cent, respectively.
In the context of the Belt and Road initiative, China’s trade with participant countries soared by 16 per cent to 4.61 trillion yuan. A significant surge of 37.4 per cent was observed in trade with the Central Asian nations of Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan, offsetting weaker demand from traditional markets.
Private enterprises have also been at the forefront of this trade growth, with their imports and exports swelling by 15.8 per cent to 7.05 trillion yuan, accounting for over half of the country’s total trade.
Signs of sustainability in this trade growth are also evident as the GAC’s monthly survey showed an increasing number of enterprises reporting growing export orders for the fourth consecutive month. In April alone, foreign trade marked an 8.9 per cent YoY increase.
Fibre2Fashion News Desk (NB)