China foreign trade estimated to reach $4.26tr this year

BEIJING: China’s foreign trade is likely to remain stable this year with improved structure, the Ministry of Commerce said Monday.

For the whole year, foreign trade volume is expected to reach 30 trillion yuan (around 4.26 trillion US dollars) this year, roughly the same as last year, according to Li Xingqian, head of the Ministry’s foreign trade department.

Customs data showed that China’s foreign trade expanded 2.4pc year-on-year to 28.5 trillion yuan in the first 11 months.

Trade structure has improved, with the exports of high-tech, high-quality and high value-added goods expanding at a faster-than-average rate, Li noted.

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While external uncertainty is likely to remain, Li expects China’s foreign trade to remain stable next year.

The country will continue to improve trade structure, cut trade costs and enhance efficiency, Li said.

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