“China’s foreign trade grows at a faster pace in first four months despite challenges”

BEIJING, May 9 (Xinhua) — China’s foreign trade grew at a faster pace in the first four months of the year amid uncertain foreign demand, trade risks and other challenges.

China’s total imports and exports grew 5.8 percent year on year to 13.32 trillion yuan (about 1.92 trillion U.S. dollars) during the period, the General Administration of Customs said Tuesday, with the growth accelerating by 1 percentage point from the pace recorded in the quarter. the first.

The department added that exports grew 10.6 percent year on year, while imports rose 0.02 percent in the first four months.

The data showed that from January to April, the growth rate of China’s trade with the Association of Southeast Asian Nations (ASEAN) and the European Union was 13.9 percent and 4.2 percent, respectively.

China’s trade with Belt and Road countries jumped 16 percent year on year to reach 4.61 trillion yuan in the period.

In particular, the country’s trade with five Central Asian countries — Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan — rose by 37.4 percent, partly offsetting weak demand in traditional markets.

Private enterprises saw a rapid growth rate as their imports and exports increased 15.8 percent to 7.05 trillion yuan in the first four months, accounting for more than half of the country’s total.

In terms of types of goods, exports of mechanical and electrical products expanded by 10.5 percent, accounting for 57.9 percent of total exports.

Auto exports rose 120.3 percent year on year during the period, driven by strong exports of new energy vehicles.

A monthly customs survey showed that the percentage of companies with increased export orders has increased for four consecutive months.

In April alone, foreign trade increased by 8.9 percent year on year, according to the General Administration of Customs.