Growth of foreign trade expected to remain strong



Li Yan | ECNS

China’s foreign trade will continue its upward trend this year, though it is vital for the government and exporters to curb the pressure brought by high commodity prices and shipping container costs, experts and business leaders said on Monday.

They commented after the General Administration of Customs announced that China’s foreign trade soared 28.2 percent year-on-year to 14.76 trillion yuan ($2.31 trillion) in the first five months of this year, reflecting that China’s exports and imports are picking up growth momentum that is increasingly driven by domestic demand as well as booming overseas orders.

Chen Bin, executive vice-president of the Beijing-based China Machinery Industry Federation, predicted that second-quarter results will show that China’s export growth remained strong in that period, as the COVID-19 pandemic saw a resurgence in export-oriented countries such as India and Vietnam.

To read the rest of the article, please visit here