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  HOME | Business & Economy (Click here for more)

China Expects Foreign Trade to Grow despite Trade War with US

BEIJING – China’s foreign trade is expected to grow significantly in 2019 despite uncertainty arising from its trade dispute with the United States, according to a Chinese Ministry of Commerce report on Monday.

According to the ministry, China has maintained a stable economic outlook despite growing external uncertainties, and recorded strong growth during the first three quarters of the current year.

The report claimed that the Chinese economy presented many favorable conditions to sustain a medium or high growth, which could lay solid foundations for development of foreign trade.

During the first 11 months of the year, foreign trade increased 11.1 percent year-on-year to 27.88 trillion yuan ($4.04 trillion).

This period also saw an 8.2 percent year-on-year increase in exports to 14.92 trillion yuan,, whereas imports grew 14.6 percent to 12.96 trillion.

However, this data represents a 21.1 percent decrease of the trade surplus, which amounted to 1.96 trillion yuan.

On Dec. 1, Chinese President Xi Jinping and US President Donald Trump agreed on a 90-day suspension of their trade war, to negotiate an end to their disputes.

 

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