The situation in China’s foreign trade remains tough this year - report

Almaty. May 11. Silkroadnews – In 2016 the situation of China’s foreign trade remains tough under growing pressure of its possible reduction, though its general trend of long-term development stays unchanged. This is what the report on the situation of China’s foreign trade in 2016 provides, according to Xinhua news agency.

In the current period the external demand at the world market stands low in general, the trade competitive advantages for the Chinese side have not been formed fully yet, trade tensions also have a negative impact on foreign trade, the report said.

Another progress has been achieved in structural adjustment and upgrading of China’s foreign trade.  The Chinese government makes all the efforts to implement various policies to support the development of this area.

The report says, in 2015, against the background of the global trade downturn, China retained the world leadership in terms of goods exports and imports. In the first quarter of 2016 China’s foreign trade turnover decreased slightly, but March showed some signs of improvement. Conditions for foreign trade operations continue to improve.

According to customs data, this January-March import and export volume of China reached 5.2 trillion yuan, which is 5.9% lower compared to the same period last year.
$1 = 6.5 yuan