China’s foreign trade jumps 9.4% y-o-y in H1, underlying steady economic rebound

[superadmin]

China's foreign trade recovery continued in the first half of 2022, with the country's total imports and exports expanding 9.4 percent year-on-year, underlying a steady overall economic rebound amid the government's policy package to stabilize the economy while putting COVID-19 flare-ups under control through targeted measures.

In the first six months of 2022, the country's total imports and exports grew 9.4 percent on a yearly basis to 19.8 trillion yuan ($2.94 trillion), outpacing the 8.3 percent growth in the January-May period, according to the General Administration of Customs (GAC) on Wednesday.

Over the period, the country's exports surged 13.2 percent to 11.14 trillion yuan, beating analysts' forecast of 12 percent. The country's imports grew 4.8 percent to 8.66 trillion yuan.

In the first half of 2022, China's trade with its top three trading partners - the ASEAN, the EU, and the US - expanded by 10.6 percent, 7.5 percent, and 11.7 percent from a year ago, respectively. China's trade with Belt and Road countries jumped 17.8 percent year-on-year.

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