China’s imports volume is growing steadily

Beijing. June 25. Silkroadnews - China’s foreign trade will remain stable in the next six months, and an increase in imports will meet domestic demand and contribute to strengthening the global economy, said Liang Ming, director of the Institute of International Trade of the Chinese Academy of International Trade and Economic Cooperation, China Daily reports.
“The country’s foreign trade volume has picked up steadily and is facing fresh opportunities. In the second half year, trade is expected to maintain solid growth. Increased efforts are essential to further liberalize and facilitate trade and investment, as well as to help maintain the multilateral trading system. While stabilizing exports, we need to enlarge imports. … Foreign trade can be developed in a balanced manner,” Liang noted.
Official data show a steady growth in foreign trade this year. According to the General Administration of Customs, for the first five months of 2018 the volume of trade in goods increased by 8.8% compared to the same period last year and amounted to 11.63 trillion yuan ($1.79 trillion).
The volume of imports grew faster than exports in the period from January to May, which led to a positive trade balance of 649.8 billion yuan, narrowing 31% year-on-year.
Released in May, the report of the Ministry of Commerce also predicted a trend towards increased trade.