Published: 10:42, July 13, 2021 | Updated: 10:49, July 14, 2021
China's 1H foreign trade rises 27.1% to record high
By chinadaily.com.cn

A logistic man works at Changsha north railway station in Changsha, Central China's Hunan province on May 22, 2021. (PHOTO / XINHUA)

BEIJING - China's foreign trade in the first half of the year posted the best performance in history, underpinned by the country's sustainable economic recovery and strong global demand.

The country's foreign trade rose 27.1 percent year-on-year to 18.07 trillion yuan (US$2.79 trillion) in the first half of the year, data from the General Administration of Customs (GAC) showed Tuesday.

The growth marks an increase of 22.8 percent from the pre-epidemic level in 2019.

Exports jumped 28.1 percent from a year earlier, while imports climbed 25.9 percent in yuan terms.

In June alone, China's imports and exports went up 22 percent year on year to 3.29 trillion yuan, marking an increase for the 13th month in a row

In June alone, the country's imports and exports went up 22 percent year on year to 3.29 trillion yuan, marking an increase for the 13th month in a row.

China's sustained economic recovery shores up production and demand, which has laid a solid foundation for the growth of the country's foreign trade, GAC spokesperson Li Kuiwen told a press conference.

Global economic recovery also led to an uptick in global trade and China's exports, Li added.

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China's trade with its top three trading partners - the Association of Southeast Asian Nations, the European Union, and the United States - maintained sound growth in the first half of the year, he said.

During the first six months, the growth rates of China's trade value with the three trading partners stood at 27.8 percent, 26.7 percent and 34.6 percent, respectively.


China's trade with countries along the Belt and Road rose 27.5 percent year-on-year to stand at 5.35 trillion yuan, while trade with countries of the Regional Comprehensive Economic Partnership grew 22.7 percent year-on-year, GAC data showed.

China's cross-border e-commerce also maintained steady expansion in the period, with the total trade value growing 28.6 percent year on year to reach 886.7 billion yuan, the data showed.

China-EU trade sees rapid growth in H1

Meanwhile, bilateral trade between China and the EU saw a rapid growth in the first half of this year, demonstrating vitality and resilience in their trade cooperation and making the EU the second-largest trade partner of China during the period, said Li.

"China and the EU are important economic and trade partners with strong economic complementarity and great potential for cooperation," said Li.

Strengthening economic and trade exchanges between China and the EU is conducive to enhancing the well-being of the people on both sides, coping with global challenges and promoting the recovery of the world economy, Li added.

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As COVID-19 keeps wreaking havoc in many parts of the world, Li warned that the country's foreign trade faces uncertainties in a complex global epidemic environment.

For the second half of the year, China's foreign trade growth may slow down due to a high base last year, said Li, adding that the foreign trade for the whole year is still expected to maintain rapid growth.

As for the problem of imported inflation, Li believed such risks were generally controllable.

At present, China's economy is continuing its stable and sound performance and factors conducive to stabilizing prices are also increasing, Li said.