ASEAN is among China's top three trade partners in the first quarter of 2018. (Photo: thejakartapost.com) Hanoi (VNA) – ASEAN, the European Union and the United Stateswere the top three trade partners of China, which together accounted for 41.2percent of the country’s total trade turnover in the first quarter of 2018,according to the Chinese General Administration of Customs (GAC).
China’s total foreign trade rose 9.4 percent to 6.75 trillion yuan (over1.07 trillion USD) in the first three months of this year.
Huang Songping, a GAC spokesperson, told apress briefing on April 13 that the relatively fast trade growth was a resultof a mild global economic recovery - a driver for trading activities, as wellas the sound development of the domestic economy, which has boosted demand forimports.
Steady progress in the Belt and RoadInitiative (BRI) and stronger trading with emerging markets also supported thegrowth, Huang said, as China’s trade volume with BRI countries mounted to 1.86trillion yuan, accounting for 27.5 percent of China's first-quarter foreigntrade, according to Huang.
Chinese privateenterprises played a bigger role in trade by contributing 38.3 percent to thetotal trade, up 1.7 percentage points compared to the same period last year.
The country's lessdeveloped regions, including central and western China, all outpaced thenational average trade growth during the period, he noted.
Huang said he sees risingpressure and challenges for the global economy and international trade in thesecond quarter due to global uncertainties and increasing protectionism whilefiercer competition in the global manufacturing sector will also posechallenges for China's foreign trade.
However, he expects China'sforeign trade will maintain an upward trend as the country has pledged to takemeasures to further open up its market and expand imports.-VNA
China’s total foreign trade rose 9.4 percent to 6.75 trillion yuan (over1.07 trillion USD) in the first three months of this year.
Huang Songping, a GAC spokesperson, told apress briefing on April 13 that the relatively fast trade growth was a resultof a mild global economic recovery - a driver for trading activities, as wellas the sound development of the domestic economy, which has boosted demand forimports.
Steady progress in the Belt and RoadInitiative (BRI) and stronger trading with emerging markets also supported thegrowth, Huang said, as China’s trade volume with BRI countries mounted to 1.86trillion yuan, accounting for 27.5 percent of China's first-quarter foreigntrade, according to Huang.
Chinese privateenterprises played a bigger role in trade by contributing 38.3 percent to thetotal trade, up 1.7 percentage points compared to the same period last year.
The country's lessdeveloped regions, including central and western China, all outpaced thenational average trade growth during the period, he noted.
Huang said he sees risingpressure and challenges for the global economy and international trade in thesecond quarter due to global uncertainties and increasing protectionism whilefiercer competition in the global manufacturing sector will also posechallenges for China's foreign trade.
However, he expects China'sforeign trade will maintain an upward trend as the country has pledged to takemeasures to further open up its market and expand imports.-VNA
VNA
