China’s foreign trade growth “exceeds expectations”

According to data released by the General Administration of Customs of China on September 13, China’s total import and export value of goods trade in the first quarter of 2023 was 9.89 trillion yuan, and the cumulative growth rate shifted from a slight decrease of 0.8% year-on-year in the first eight months of this year to a year-on-year increase of 4.8%. . China’s foreign trade import and export have started steadily, attracting widespread attention from foreign media.

Foreign media such as Reuters, the US Consumer News and Business Channel (CNBC) and the Financial Times have all described China’s foreign trade growth momentum as “exceeding expectations”. According to Reuters, China’s export data unexpectedly surged in September, driven by strong shipments of solar products, new energy vehicles, etc. and improvements in the supply chain. CNBC published an article saying that China’s export growth in March was “surprising”. The Financial Times stated that in the first quarter, China’s exports to Southeast Asia rebounded rapidly, and foreign trade with the United States and Europe also improved.

Amid the bleak prospects for the world economy, China’s economy has become a rare bright spot. The International Monetary Fund (IMF) released its latest “World Economic Outlook Report” on the 11th, lowering its world economic growth forecast and believing that the current world economic growth faces great uncertainty. At the same time, the IMF predicts that China’s economic growth will be 5.2% in 2023. The report said that as China accounts for a significant share of global exports, China’s economic growth may have positive spillover effects. “Deutsche Welle” quoted IMF chief economist Gulan Shah as saying that China and India together will account for half of world economic growth in 2023, while the United States and the Eurozone combined will only account for 1/10. China’s opening up Will boost economic activity.