China’s foreign trade maintained stable growth during the first 10 months of the year, and is expected to continue growing for the rest of this year and next. Total foreign trade volume hit 25.6 trillion yuan ($3.67 trillion), expanding 2.4 percent year-on-year, the General Administration of Customs announced on Friday. In the first 10 months, China’s exports increased 4.9 percent while imports dropped 0.4 percent, according to the customs. “Despite slower global economic growth, China’s foreign trade performance has shown strong resilience. It is not easy to achieve positive growth against the global economic conditions,” said Tu Xinquan, a professor of international trade at the University of International Business and Economics in Beijing. “In addition, the Sino-US trade talks have made positive progress. China and New Zealand have concluded a deal to upgrade their bilateral free trade agreement. “Those improvements are going to create a good foundation for trade growth in 2020,” Tu said. In October, foreign trade volume stood at 2.71 trillion yuan, down 0.5 percent year-on-year. The import and export volumes of a single month have been kept at a high level of more than 2.7 trillion yuan for four straight months, customs data showed. Many foreign businesses… Read full this story
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