China's foreign trade up 2.4% in first 10 months

Economy

China's foreign trade registered stable growth in the first 10 months of 2019 by expanding 2.4% year on year, the General Administration of Customs (GAC) said Friday.

XinhuaUpdated: November 8, 2019

China's foreign trade registered stable growth in the first 10 months of 2019 by expanding 2.4% year on year, the General Administration of Customs (GAC) said Friday.

During the period, the total foreign trade volume reached 25.63 trillion yuan (about US$3.67 trillion). Exports climbed 4.9% while imports dropped 0.4%, GAC data showed.

China saw its trade surplus widen by 42.3% year on year to 2.35 trillion yuan during the 10-month period.

The country's trade mix continued to improve with general trade growth in both volume and proportion. General trade rose 4.8% year on year to 15.19 trillion yuan during the period, GAC data showed.

The reading accounted for 59.3% of China's total trade, up 1.1 percentage points over one year ago.

China's trade with the EU, ASEAN and other major markets expanded, according to the GAC, while trade with countries along the Belt and Road reported faster growth than the overall average.

Trade with the Belt and Road countries rose 9.4% to 7.47 trillion yuan from January to October, accounting for 29.1% of the total trade.

Private firms, which accounted for 42.4% of the country's total foreign trade, made 10.87 trillion yuan of trade in the first 10 months, up 10.3% year on year.