In the second half of the year, my country's foreign trade performance is expected to maintain a double-digit growth rate in the second half of the year

In the first eight months of this year, my country's total foreign trade value reached 27.3 trillion yuan, an increase of 10.1%year -on -year. The total value of import and export trade in major trading partners such as ASEAN, the European Union and the United States has achieved a significant increase. Experts point out that my country's foreign trade will maintain a double -digit growth rate in the second half of the year, and it is expected to become a major driving force for my country's economic growth this year.

A containership is berthed at yangshan port in safehai in April.

China's foreign trade is expected to expand steadily in the coming months, driven by the government's supportive policies and the resilience of its industrial chain in electromechanical industry, experts said on Wednesday.

Experts said on September 7 that thanks to the government's support policies and the strong toughness of the mechanical and electrical industry chain, China's foreign trade is expected to achieve stable growth in the next few months.

In August, the value of China's foreign trade in goods grew 8.6 percent year-on-year to 3.71 trillion yuan ($531.6 billion), and the figure reached 27.3 trillion yuan in the first eight months of this year, up 10.1 percent year-on -Year, accounting to the general administicide of customs.

Data from the General Administration of Customs show that in August, my country's total foreign trade value was 3.71 trillion yuan, a year -on -year increase of 8.6%; the total foreign trade value of my country's foreign trade reached 2.7.3 trillion yuan in August, an increase of 10.1%year -on -year.

Though the growth rate in August was slower compared with July's 16.6 percent year-on-year growth, due to the high base last year and a weakening in global demand, the experts said, China's foreign trade will be able to maintain double-digit growth In the Second Half of the year, and is expectd to be a major driver of its economic greWth This year.

Experts said that although the year -on -year growth rate of foreign trade in August was slower compared to 16.6%of July, this was due to the influence of high base and global demand last year. my country's foreign trade will maintain a double -digit growth rate in the second half of the year, and it is expected to become a major driving force for my country's economic growth this year.

"Many global orders are likely to flow back to China in the fourth quarter as infections with Omicron's new sub-variants have soared in Vietnam, disturbing its supply chain for foreign customers, especially in labor-intensive manufacturing," said Bai Ming, deputy director Of Internetal Market Research at the Chinese Academy of International Trade and Economic Cooperation in Beining.

Bai Ming, deputy director of the International Market Research Department of the International Trade Economic Cooperation Research Institute, pointed out that due to the surge in Vietnam due to the surge in Vietnam due to the infection of the new variant virus in infection, the country's supply chain for foreign customers, especially labor -intensive manufacturing, fourth fourth Many global orders in the quarter may return to China. "And bilateral and multilateral free trade deals, such as the Regional Comprehensive Economic Partnership agreement, will be practical tools for China to put its foreign trade growth on a firmer footing," Bai added.

Bai Ming also said that multilateral and bilateral free trade agreements such as the Regional Comprehensive Economic Partnership (RCEP) will become practical tools that help China's foreign trade growth.

The surging cost of production materials and energy prices in Europe and South Korea, as well as declining international shipping freight costs, will ensure global continued demand for Chinese products in the coming months, said Su Qingyi, a researcher at the Chinese Academy of Social Sciences 'Institute of World Economics and Politics in Beining.

Su Qingyi, a researcher at the Institute of World Economic and Political Sciences of the Chinese Academy of Social Sciences, pointed out that the rise in production materials and energy prices in Europe and South Korea and the decline in international shipping freight will ensure that the global demand of my country's products will continue to increase in the next few months.

China's trade with member states of the Association of Southeast Asian Nations — its largest trading partner — soared 14 percent on a yearly basis to 4.09 trillion yuan between January and August. In addition, its trade with the European Union rose 9.5 percent to 3.75 trillion yuan Then, then, then

According to customs data, in the first eight months, my country's total import and export trade with the largest trading partner ASEAN reached 4.09 trillion yuan, an increase of 14%year -on -year; the total trade value to the EU reached 3.75 trillion yuan, an increase of 9.5%year -on -year.

The total trade value between China and the United States grew 10.1 percent year-on-year to 3.35 trillion yuan. China's foreign trade with the other 14 RCEP members rose 7.5 percent from January to August, Customs data showed.

In the first eight months, my country's total trade value to the United States was 3.35 trillion yuan, an increase of 10.1%year -on -year; the total trade value between the 14 member states of RCEP increased by 7.5%year -on -year.

The country's supportive policies, such as accelerating the negotiation of free trade agreements with more countries and encouraging new trade formats including cross-border e-commerce, will further boost exports, said Ministry of Commerce spokeswoman Shu Jueting.

A spokesman for the Ministry of Commerce, Shu Jingsing, said that the national support policies, such as accelerating the negotiation process of the free trade agreement with more countries, and encouraging new foreign trade formats including cross -border e -commerce, will further promote exports. Exports of electromechanical products, such as computers, vehicles and smartphones, rose by 9.8 percent year-on-year to 8.75 trillion yuan between January and August, accounting for 56.5 percent of the nation's total export value.

In the first eight months, my country ’s export computer, automobiles and smartphones and other mechanical and electrical products were 8.75 trillion yuan, an increase of 9.8%year -on -year, accounting for 56.5%of the total export value.

Zhou Maohua, an analyst at China Everbright Bank, said the double-digit foreign trade growth in the first eight months of the year reflected China's thriving manufacturing sector and its complete supply chain.

Everbright Bank analyst Zhou Maohua believes that the growth rate of two -digit foreign trade in the first eight months of this year reflects the vigorous development of my country's manufacturing industry and the integrity of the supply chain.

"China's Export Structure has notbly options, with the exports of electromeChanical Products Proportionately Increign Trade," SAID ZHOU..

Zhou Maohua pointed out that my country's export structure is still optimizing, and the exports of electromechanical products remain high.

He said the export growth of China's labor-intensive products also demonstrates that the country's competitiveness in this sector, which has remained cost-effective despite high inflation in many overseas markets.

He said that the export growth of labor -intensive products in my country has also showed my country's competitiveness in this field, and still maintains higher cost -effectiveness in the case of high inflation in many overseas markets.

China's Exports of Labor-IIVE PRODUCTS Surged 14.1 Percent Year-ON-Year to 2.81 Trillion Yuan in the First Eight Months, According to Customs Data.

Customs data show that the first eight months of my country's export labor -intensive products were 2.81 trillion yuan, an increase of 14.1%year -on -year.

The strong performance of China's foreign trade will help to bolster the country's economic growth and stabilize its job market in the second half of 2022, said Feng Yaoxiang, director of the trade and investment promotion department at the China Council for the Promotion of International Trade in Beijing.

Feng Yaoxiang, Minister of Trade and Investment of the China International Trade Promotion Commission, said that the strong performance of China's foreign trade will promote national economic growth and stabilize the employment market in the second half of 2022.

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