Trade prospects still upbeat

Author:Tony
Release on:2015-07-14

Trade prospects are expected to remain stable during the next six months, thanks to the ongoing structural reforms and decisive steps to boost growth from cross-border e-commerce and new free trade zones.

China's exports grew stronger than expected by 2.1 percent on a year-on-year basis to 1.17 trillion yuan ($188.5 billion) in June, after a 6.4 percent decline in April, according to data released by the General Administration of Customs on Monday.

However, imports fell by 6.7 percent to 890.67 billion yuan in June, leading to an accelerated growth in the monthly trade surplus.

Huang Songping, spokesman for the administration, said the situation is "grim and complicated" under the sluggish global economy but said the country has managed to diversify its foreign trade to weather out the tough period.

During the first six months, total value of foreign trade stood at 11.53 trillion yuan, down by 6.9 percent from a year earlier. Exports increased by 0.9 percent to 6.57 trillion yuan while imports decreased by 15.5 percent to 4.96 trillion yuan.

Even though there are challenges, Huang said China's exports still enjoy several favorable conditions, including a solid industrial foundation, a good industrial chain, fast expansion of equipment manufacturing and high-tech industries.

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