China’s foreign trade up 22.7% in first three quarters
In this year from January-September, China’s foreign trade value grew by 22.7% on year to Yuan 28.33 trillion ($4.4 trillion). Where the imports sector grew 22.6% on year to Yuan 12.78 trillion and the export sector value gained 22.7% on year to Yuan 15.55 trillion.
From the pre-epidemic level in 2019, it makes a great increase of 23.4 percent, according to the General Administration of Customs. In the first nine months of the year, both exports business and imports business continued double-digit growth.
China’s trade with its top three trading partners the United States, the European Union, and the Association of Southeast Asian Nations– maintained sound growth in the Jan.-Sept. period.
In the first three quarters, China has made a robust growth in exporting medicinal materials, medicine, and also mechanical and electrical products. The exports of automobiles rushed 107 percent year on year in the period on the other hand the medicine and medicinal materials soared 108 percent. This robust growth massively changed the Chinese manufacturing industry as well as the supply chain industry.