China’s foreign trade experienced a breakthrough in scale and quality improvement in the first half of the year, according to the semi-annual report on import and export trade. The report highlights the efforts made to promote stability and enhance the overall quality of trade.
The Wall Street News reports that China’s foreign trade increased by 2.1% in the first half of the year, which is the smallest increase recorded after the outbreak. This indicates a need for greater focus and efforts to boost growth in the second half of the year.
China’s June exports showed a decline of 12.4% compared to the previous year, while imports also dropped by 6.8%. This decline reflects the ongoing challenges faced by the global economy and trade due to the COVID-19 pandemic, as reported by RFI – Radio France Internationale.
On a positive note, Xinhua News Agency highlights that China’s import and export of goods trade in the first half of the year increased by 2.1% year-on-year. This data suggests a gradual recovery in trade activities and provides hope for continued growth.
Additionally, Yingwei Finance Investing.com reveals that China’s exports from January to June registered a 3.7% increase in RMB. Moreover, the scale of imports and exports in the same period reached a historic milestone, surpassing 20 trillion yuan for the first time.
These developments in China’s foreign trade are significant, given the challenging global economic environment caused by the pandemic. The government officials and experts believe that the second half of the year will bring even more pressure for growth but remain optimistic about the potential for recovery and further improvement in trade.
As the world continues to navigate the impacts of the pandemic, China’s efforts to promote stability, enhance trade quality, and adapt to changing global dynamics will play a crucial role in driving economic recovery and fostering international cooperation.