May 18, 2024

News Collective

Complete New Zealand News World

China's trade activity grew by 9.4 points in the January-June period

China’s trade activity grew by 9.4 points in the January-June period

According to the General Administration of Customs, the total volume of foreign trade in that period amounted to $2.94 billion, with exports rising 13.2 points and imports increasing 4.8 points.

In June, the sector advanced 14.3 percent, which continued the uptrend seen with the 9.5 expansion in May and ratified a solid rebound.

During the fifth month of the year, China began easing restrictions, reactivating production at an accelerated pace and normalizing international freight transport in Shanghai, its financial heart and important global center for the movement of goods.

In general, the government has implemented various measures aimed at stabilizing and reviving the economy and providing it with resilience in the face of the uncertainties arising from the outbreak of the Covid-19 virus and the conflict between Russia and Ukraine.

According to some experts, it is very likely that the authorities will proceed with more provisions with the aim of boosting foreign trade during the remainder of 2022.

China is considering a 5.5 percent increase in gross domestic product this year, which is one of the lowest goals in the past decade but in line with the country’s recovery and plans to ensure economic stability in the face of internal and external challenges.

According to the government, among the main pressures during 2022 are lower demand, disruption to supply chains and weak growth prospects as the world remains under the brunt of the pandemic, as well as the conflict between Russia and Ukraine.

In fact, the odds of GDP expansion for the second quarter are only about 2.1%.

See also  Trump's social network still not 'fully working'

However, the authorities promised to maintain the main indicators of the economy within the appropriate range, diversify monetary tools, introduce further cuts in interest rates, and benefit small and medium-sized companies that are facing difficulties.

ode / ymr