China's foreign trade remains on an upward trajectory. Data released by the General Administration of Customs (GAC) on August 8 shows that the country's imports and exports maintained a positive growth momentum in July, yet at a slower pace due to a higher base. According to the GAC's statistics, China's imports and exports recorded 15.46 trillion yuan from January to July, up 18.5 percent year on year. Looking separately, exports increased by 14.4 percent year-on-year to 8.53 trillion yuan in the same period, while imports increased by 24 percent to 6.93 trillion yuan, lowering the trade surplus by 14.5 percent.
JUMORE Reviews
In the face of a complex economic situation both at home and abroad, China has taken active actions such as the Belt and Road Initiative, supply-side reform, and encouraging mass entrepreneurship and innovation to provide sufficient momentum for sustainable economic growth. In this context, the innovation and change of traditional industries as well as the development of emerging industries will strongly back up the output of China's superior production capacities, competitive industries and quality products to further consolidate the steady growth of foreign trade.
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