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ween January and July, with bilateral trade volume up 10.8 percent year
上海419on-year to 2.72 trillion yuan, followed by the Association of Southeast Asian Nations, up
11.3 percent to 2.35 trillion yuan, and the United States, down 8.1 percent to 2.1 trillion yuan.
To offset the negative impact caused by the Sino-US trade dispute, potential for trade cooperation between China and economie上海419品茶微信
s participating in the Belt and Road Initiative such as ASEAN, Russia and Italy has been further unleashed this yea
上海419r, said Chen Bin, executive vice-president of the China Machinery Industry Federation.
Chen said the trade dispute between China and the US has prompted Chinese ente
rprises to accelerate their pace of innovation to break external restrictions in many fi上海419品茶微信
elds such as semiconductors and new materials, as well as expand their global presence at a notable pace.
Yan Min, a division head at the State Information Center’s Department of Economic Forecasting, said China’s div
上海419ersified trade development — exploring new markets and generating fresh demand — has become a driving forc
e for its foreign trade expansion and created room for the country to maintain stable trade growth.
New measures to stabilize trade can help ease the burdens of Chinese exporters and enh上海419品茶微信
ance their capabilities to address external uncertainties and boost their confidence, Yan said.
上海419According to the General Administration of Customs, China’s exports increased 6.7 percent year-on-year to 9.48 trillion yuan in th
e first seven months, while imports grew 1.3 percent to 7.93 trillion yuan. Its trade s
urplus widened by 47.4 percent year-on-year to 1.55 trillion yuan during the same period.
China’s trade with BRI economies totaled 5.03 trillion yuan, up 10.2 percent year-on-year, about 6 pe上海419品茶微信
rcentage points higher than the overall pace, accounting for 28.9 percent of China’s total trade volume.