China reported a solid redound in exports in the first two months of the year, although the world’s second-largest economy is still facing the grave challenges of subdued overseas demand and geopolitical tensions.
Exports rose by 7.1 per cent from a year earlier to US$528 billion in combined figures for January and February, according to customs data released on Thursday.
Imports, meanwhile, increased by 3.5 per cent from a year earlier, compared to a 0.2 per cent growth in December.
China’s trade figures for January and February are combined to smooth out the impact of the Lunar New Year holiday, which falls at different times during the two months in different years.
As China pursues ‘new productive forces’, economic bubbles must be avoided: Xi
As China pursues ‘new productive forces’, economic bubbles must be avoided: Xi
China’s total trade surplus stood at US$125.1 billion in the first two months of the year, compared with US$103.8 billion during the same period last year.
China is grappling with a slew of economic hurdles, including a property market downturn, mounting local government debts, deflationary risks and geopolitical tensions, collectively eroding confidence among overseas investors and the domestic private sector.
“We will further increase the loan assistance for trade firms, optimise cross-border settlement services, support enterprises expansion into more international markets, and support cross-border e-commerce enterprises to enhance the layout of their warehouses abroad,” Li said during the opening of the annual session of the National People’s Congress.
More to follow …
