China’s foreign trade is expected to reach a new high in the second half of the year, but probably at a slower yearly growth rate due to complexities at home and abroad, according to analysts and business leaders.
According to the General Administration of Customs, China’s foreign trade climbed by 27.1 percent year-on-year to 18.07 trillion yuan ($2.8 trillion) during the first half of this year, with exports increasing 28.1 percent year-on-year and imports rising 25.9 percent.
According to the General Administration of Customs, China’s foreign trade climbed by 27.1 percent year-on-on-year and imports rising 25.9 percent.
Liang Ming, director of the Institute of International Trade affiliated to the Chinese Academy of International Trade and Economic Cooperation, predicted that China’s total foreign trade for 2021 will hit more than $5.4 trillion, growing 16 percent from 2020, even under an extreme presumption of zero year-on-year growth for each month of the second half of the year.
