China’s Import and Export Expected to Continue Growing in Second Quarter
On April 12, the State Council Information Office held a press conference to discuss the import and export situation in China for the first quarter of 2024. Wang Lingjun, deputy director of the General Administration of Customs, announced that China’s imports and exports are expected to continue improving in the second quarter and will likely maintain growth in the first half of the year.
Despite challenges such as geopolitical tensions and trade protectionism, Wang Lingjun highlighted several favorable factors contributing to the growth of foreign trade. Global trade is showing signs of stabilization and improvement, with organizations like the WTO and the United Nations Conference on Trade and Development predicting growth in global trade in goods for 2024.
The China Customs trade boom survey also revealed that the proportion of companies reporting an increase in export and import orders in March had significantly risen compared to the previous month. Based on these positive factors, it is anticipated that China’s import and export will continue to thrive in the second quarter and remain on a growth trajectory in the first half of the year.
The news brings optimism for the country’s trade prospects and suggests a promising outlook for the coming months.