China’s September foreign trade hits new monthly high of 2023

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China’s September foreign trade hits new monthly high of 2023 as recovery gathers steam 

China released a series of positive economic indicators on Friday, including higher-than-anticipated exports and new monthly high of foreign trade, improving social financing data, and a rebounding consumer situation, signaling that the world's second-largest economy is withstanding external pressure and on a path to sustained recovery bolstered by a range of supportive policy measures over recent months, observer said.

The anticipated growth is expected to provide a significant boost to the global economy, which has been facing downward pressure and restrictive trade policies from some Western economies. Observers pointed out that a series of crucial events, including the upcoming Belt and Road Forum for International Cooperation, the Canton Fair, the China International Import Expo, and the inaugural China International Supply Chain Expo will present opportunities for the world to partake in this growth.

While mounting challenges and geopolitical complexities are highly likely to persist in the fourth quarter and might continue to weigh on the recovery, Chinese experts believe that policy measures coupled with improving endogenous growth drivers will ensure that China will reach its annual GDP growth target of about 5 percent in 2023.

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