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China's foreign trade reaches new high in H1

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      China

      China

      China's foreign trade reaches new high in H1

      2024-07-12 16:22 Last Updated At:18:07

      China's foreign trade reached a new high in the first half (H1) of this year, with the rising trade volume injecting strong momentum into economic recovery, official data showed Friday.

      The volume of goods trade expanded 6.1 percent year on year to 21.17 trillion yuan (about 2.97 trillion U.S. dollars) in the January-June period, according to the General Administration of Customs.

      Exports rose 6.9 percent to 12.13 trillion yuan (about 1.67 trillion U.S. dollars), while imports climbed 5.2 percent, reaching 9.04 trillion yuan (about 1.24 trillion U.S. dollars). Trade surplus expanded 12 percent to 3.09 trillion yuan (about 425.39 billion U.S. dollars).

      The positive trend of foreign trade has been further consolidated, analysts said.

      In the second quarter, imports and exports in total gained 7.4 percent compared to a year earlier, also notably higher than the 4.9 percent increase in the first quarter of this year and 1.7 percent in the fourth quarter of last year, registering a historical high of over 21 trillion yuan (about 2.89 trillion U.S. dollars) during the same period, said officials.

      In the first half of this year, imports and exports of the country's general trade saw an increase of 5.2 percent to 13.76 trillion yuan, accounting for 65 percent of the total foreign trade. 

      During the same period, the imports and exports of processing trade reached 3.66 trillion yuan, rising 2.1 percent and making up 17.3 percent of the total. In addition, China's imports and exports by bonded logistics was 2.96 trillion yuan, an increase of 16.6 percent.

      The Association of Southeast Asian Nations, or ASEAN, remains China's largest trading partner, with the bilateral trade increasing 10.5 percent year on year, followed by the European Union, the United States and South Korea.

      China's trade with Belt and Road Initiative countries reached just over 10 trillion yuan, a 7.2 percent increase year on year.

      Foreign trade by private enterprises registered 11.64 trillion yuan, climbing 11.2 percent year on year and accounting for 55 percent of China's total foreign trade value, 2.5 percent higher than the proportion reported in the same period one year earlier.

      As for exports, China's mechanical and electrical products accounted for nearly 60 percent of the total, of which automatic data processing equipment and its parts, integrated circuits and automobiles all experienced a double-digit growth.

      Imports of major commodities such as iron ore, coal and natural gas increased as well.

      China's foreign trade reaches new high in H1

      China's foreign trade reaches new high in H1

      Efforts are continuing to search for survivors of last Friday's powerful earthquake in Mandalay, Myanmar, as other post-disaster work proceeds in some parts of the city at the same time to clear the rubble of collapsed buildings, provide medical care for the injured and proper shelter for the affected, and prevent the spread of potential diseases.

      According to a Myanmar rescuer participating in search and rescue operations in the country's second-largest city, the clock is ticking down to find more survivors who remain buried under the debris of collapsed buildings more than five days after the 7.9-magnitude earthquake rocked the country. The disaster has claimed 3,085 lives, injured 4,715, and left 341 more missing, the Information Team of the State Administration Council said on Thursday local time.

      "The top priority for us rescuers is finding more survivors. But since a long time has already passed, our next main task will be to recover the bodies of the victims," Ko Kyaw Min, head of a rescue team from Hpakant, a town in Kachin State, told China Central Television (CCTV) in an interview on Thursday.

      Meanwhile, the search and rescue operations as well as epidemic prevention and control efforts in Mandalay are facing multiple hurdles such as a lack of power and water supplies, a communication blackout, and high temperatures that have persisted for days.

      The relevant authorities in Mandalay are going all out to restore electricity, water and communication services in the stricken areas and have brought in large machinery to clear the rubble and debris.

      An air route dedicated to disaster relief has been put into operation at the city's airport since Wednesday, and another civil aviation route is expected to open on Friday, a CCTV reporter learned from local officials.

      The city is also seeing more medical teams arriving to assist in treating the injured, and more relief supplies such as tents, food, drinking water, and medicine are pouring in and being distributed to the affected locals.

      Post-disaster relief work ongoing in Mandalay as authorities strive to restore basic services

      Post-disaster relief work ongoing in Mandalay as authorities strive to restore basic services

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