CCTV – China’s foreign trade has been picking up steadily in 2016, data from China’s General Administration of Customs (GAC) shows.
GAC statistics shows that China’s foreign trade dropped 8.1 percent and 1 percent in the first quarter and the second quarter respectively, while the figure increased 0.6 percent in the third quarter and kept picking up in the last quarter.
“China’s import and export has been picking up quarter by quarter. The total amount of import and export has registered a positive growth in terms of magnitude of value and quantity of goods. Regarding the ‘Belt and Road’ initiative, trade between China and some countries along the Silk Road Economic Belt and the 21st Century Maritime Silk Road increased rapidly. Import and export between China and over 20 countries in south Asia and Central and Eastern Europe maintained fast growth in the first 11 months,” said Yu Guanghzou, head of the GAC.
Experts attribute the growth to a series of policies that the country has issued to maintain a steady economic growth and promote structural reform.
“(Owing to factors) such as cutting overcapacity, deleveraging and reducing cost, trade environment for enterprises is improving steadily,” said Yan Min, associate research fellow with the economic forecast department of State Information Center.
While there has been uncertainty in the external demand of countries around the world amid a complex and volatile foreign trade environment in 2016, China has maintained a steady growth of its foreign trade.
“China’s export this year accounts more than 13 percent of the world’s total amount. Only the United States reached this level back in 1968 and no any other country has ever achieved this since then. So China’s market share in the world is increasing against the deceleration of the economic globalization. This actually shows a steadiness and improvement in quality,” said Zhao Zhongxiu, vice president of the University of International Business and Economics.
