{"id":26414,"date":"2024-04-13T15:02:54","date_gmt":"2024-04-13T15:02:54","guid":{"rendered":"https:\/\/chezaspin.com\/blog\/index.php\/2024\/04\/13\/foreign-trade-keeps-its-growth-momentum-china-daily\/"},"modified":"2024-04-13T15:02:54","modified_gmt":"2024-04-13T15:02:54","slug":"foreign-trade-keeps-its-growth-momentum-china-daily","status":"publish","type":"post","link":"https:\/\/chezaspin.com\/blog\/foreign-trade-keeps-its-growth-momentum-china-daily\/","title":{"rendered":"Foreign trade keeps its growth momentum: China Daily"},"content":{"rendered":"

BEIJING, China, Apr 13 \u2014 China\u2019s foreign trade will sustain its upward trajectory in the second quarter, remaining on a path of growth throughout the first half of the year, government officials said on Friday.<\/strong><\/p>\n

They explained that the country\u2019s trade advancements are supported by a solid industrial base, enhanced innovation capabilities, various free trade agreements and the tangible growth of the Belt and Road Initiative.<\/p>\n

China\u2019s foreign trade grew by 5 percent year-on-year to 10.17 trillion yuan ($1.41 trillion) in the first quarter, according to data released on Friday by the General Administration of Customs.<\/p>\n

Speaking at a news conference in Beijing, Wang Lingjun, vice-minister of the GAC, said that at present, the global landscape is experiencing significant shifts, and the world economy faces numerous formidable challenges which are likely to test China\u2019s foreign trade capabilities extensively.<\/p>\n

It is crucial to recognize that the nation\u2019s foreign trade now enjoys more entrenched competitive advantages, ensuring a strong foundation for the continued improvement of both imports and exports, said Wang.<\/p>\n

cn\u00a510 trillion mark<\/h2>\n

China\u2019s foreign trade volume between January and March surpassed 10 trillion yuan for the first time compared with the same period in previous years, with its growth rate hitting a six-quarter high.<\/p>\n

As China\u2019s factory activities have accelerated more quickly than expected, Goldman Sachs Group Inc raised its forecast for China\u2019s economic growth to 5 percent in 2024, aligning with the target set by the Chinese government, rather than the 4.8 percent previously predicted.<\/p>\n

To mitigate the risks posed by sluggish global economic growth and rising geopolitical tensions, China\u2019s primary objective is to cultivate new engines for foreign trade in the long run, such as exporting tech-intensive green products and expanding cross-border e-commerce business, said Zhou Nianli, a professor specializing in foreign trade at the University of International Business and Economics in Beijing.<\/p>\n

Increasing the trade volume of intermediate goods and bolstering trade digitization are also top priorities, said Zhou.<\/p>\n

Similar views were expressed by Lyu Daliang, director of the GAC\u2019s statistics and analysis department. \u201cThese efforts are not just about maintaining market share, but about exploring new paths for growth in foreign trade. This includes utilizing new technologies and leveraging free trade rules to stimulate the growth of foreign trade.\u201d<\/p>\n

In addition to their participation in several global trade shows later this year, including the Textile Expo Barcelona in Spain and Automechanika Frankfurt in Germany, exporters from Ningbo in East China\u2019s Zhejiang province have set a new record by booking over 4,000 booths for the upcoming 135th session of the China Import and Export Fair (Canton Fair) in Guangzhou, Guangdong province, according to information released by the city\u2019s commerce bureau.<\/p>\n

Soaring exports <\/h2>\n

Yueli Group Co, Ltd, a Ningbo, Zhejiang province-based home appliances manufacturer, saw its exports of ironing products soar more than 30 percent year-on-year in the first quarter of this year, and foreign trade orders have now been scheduled until June.<\/p>\n

To seize more market share, Lu Ping, the company\u2019s chief financial officer, said the company introduced a type of mini electric iron product in overseas markets last year, which quickly gained popularity in countries like Germany and Sweden.<\/p>\n

For more visit\u00a0China Daily<\/a><\/p>\n

For subscriptions on news from China Daily, or inquiries, please contact China Daily Africa Ltd on +254 733 566 499 or write to enquiries@chinadailyafrica.com<\/p>","protected":false},"excerpt":{"rendered":"

BEIJING, China, Apr 13 \u2014 China\u2019s foreign trade will sustain its upward trajectory in the second quarter, remaining on a path of growth throughout the first half of the year, government officials said on Friday. They explained that the country\u2019s trade advancements are supported by a solid industrial base, enhanced innovation capabilities, various free trade […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-26414","post","type-post","status-publish","format-standard","hentry","category-uncategorized","entry"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts\/26414","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/comments?post=26414"}],"version-history":[{"count":0,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts\/26414\/revisions"}],"wp:attachment":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/media?parent=26414"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/categories?post=26414"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/tags?post=26414"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}