China's logs forex transactions of 3.47 tln dollars, mild foreign trade growth in March

China's foreign exchange market recorded transactions worth a total of 24.64 trillion yuan -- equivalent to 3.47 trillion U.S. dollars -- in March, official data showed on Friday.

The transaction volume of the client market totaled 3.53 trillion yuan (about 500 billion U.S. dollars) last month, and that of the interbank market came in at 21.11 trillion yuan (about 2.97 trillion U.S. dollars), according to the State Administration of Foreign Exchange.

In terms of products, the cumulative transaction volume of the spot market was 7.61 trillion yuan (about 1.07 trillion U.S. dollars), and that of the derivatives market was 17.03 trillion yuan (about 2.4 trillion U.S. dollars).

The country's foreign exchange market transaction volume totaled 66.17 trillion yuan (about 9.32 trillion U.S. dollars) in the first three months, the data showed.

China's international trade in goods and services hit 4.04 trillion yuan (about 570 billion U.S. dollars) in total last month, rising 3 percent year on year, official data showed on Friday.

In U.S. dollar terms, export and import values of China's international trade in goods and services amounted to 291.6 billion U.S. dollars and 278 billion U.S. dollars, respectively, with a surplus of 13.7 billion U.S. dollars, the State Administration of Foreign Exchange said.

The export value of goods reached 1.86 trillion yuan (about 260 billion U.S. dollars) while the import value was 1.61 trillion yuan (about 230 billion U.S. dollars).

The export value of services trade amounted to 214.4 billion yuan (about 30.21 billion U.S. dollars) while its import value amounted to 367.7 billion yuan (about 51.81 billion U.S. dollars), producing a deficit of 153.3 billion yuan (about 21.6 billion U.S. dollars).

Tourism was the biggest contributor to services trade, with a trade value of 162.2 billion yuan (about 22.85 billion U.S. dollars), followed by transport services and other commercial services, according to the administration.

China's logs forex transactions of 3.47 tln dollars, mild foreign trade growth in March

China's logs forex transactions of 3.47 tln dollars, mild foreign trade growth in March

China's remarkable economic development has not only transformed the country itself but also profoundly impacted the global economy, opening vast potential for investment cooperation between China and France, as well as between China and the European Union, according to Pascal Lamy, former director-general of the World Trade Organization (WTO).

Over 80 percent of French respondents to a new poll believe China is a great and influential country, and 70.3 percent regard China as a successful country, according to a survey of 1,513 French respondents conducted by China Media Group, China Global Television Network (CGTN) and Renmin University of China ahead of Chinese President Xi Jinping's state visit to France.

The French respondents to the survey praised the achievements of China's high-quality economic development and high-level opening up.

Speaking during an interview with CGTN on Monday, Lamy expressed his admiration for China's economic success.

"We French believe that China is a big success. This is what the numbers say, looking at what happened, overall, 50 or 60 years. I'm not surprised if the French believe that China is a very influential country, believing otherwise would be blind to the reality. China is one of the major economic powers in the world of today; and whether the Chinese economy is doing well or less well, matters a lot for the rest of the world. It was not the case 60 years ago. It is the case now, given how important China has become," said Lamy.

Lamy then noted the potential for further collaboration, highlighting the opportunities for French and European investments in China and vice versa.

"Now, we believe, there is room for China opening up more. There is more room for French and European investments in China. And there is more room for Chinese investments in France and in Europe. No doubt about that, especially in areas where Europe has a competitive edge in China, and where China has a competitive edge in Europe and in France, and notably in the area of green tech," he said.

Former WTO chief praises China's transformative economic impact on global development