Zhaoping, director of International Trade Research Department of CCPIT Institute, stated that the trend of China’s foreign trade remained towards growth, with the ability to withstand pressure thank in part to diversified partners. Despite China’s foreign trade still faced a lot of challenges, such as economic slowdown of main trade partners, unilateralism of some countries and protectionism, the trend remained positive.
Regarding bilateral trade with main trade partners, according to official statistics, in Q1, apart from the trade volume between China and the US which decreased by 11%, trade volume between China and other main partners, such as EU, ASEAN, and Japan, increased rapidly. In addition, the growth rate of trade volume between China and countries in the Road and Belt (Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan) was higher than the average growth rate. This means that China’s international markets have become more diversified and foreign trade was capable of resisting more pressure.
Electromechanical products accounted for a large proportion of the total amount of the exported goods, with a rapidly increasing growth rate.
With thanks to ChinaFastener.com