For­eign trade vol­ume rises 15.6%: MOFCOM

Global Times - - BIZUPDATE -

China’s for­eign trade has shown growth mo­men­tum this year as the to­tal trade vol­ume in the first 11 months of 2018 has al­ready ex­ceeded the read­ing last year, but the trend was not in large part fu­eled by a rush by traders to ship or­ders be­fore US tar­iffs took ef­fect, an of­fi­cial from the Min­istry of Com­merce (MOFCOM) said Thurs­day.

“There may have been moves to rush to fill or­ders in ex­port mar­kets which are af­fected by pro­tec­tion­ism and uni­lat­er­al­ism, but it is not the de­ter­min­ing fac­tor be­hind China’s fast-grow­ing trade vol­ume,” MOFCOM spokesper­son Gao Feng, said at a press brief­ing in Bei­jing on Thurs­day.

In the first 11 months, China’s for­eign trade vol­ume rose by 15.6 per­cent to 25.14 tril­lion yuan, cus­toms data shows.

Gao said that the re­bound in global mar­ket de­mands, Chi­nese gov­ern­ment pol­icy boost, a steadily grow­ing do­mes­tic econ­omy which drives up im­port de­mand, as well as an in­no­va­tive shift in ex­ports are be­hind China’s for­eign trade boom.

There is also “strong sup­port” for China’s for­eign trade growth next year de­spite ris­ing pro­tec­tion­ism and other global un­cer­tain­ties, ac­cord­ing to Gao.

“The trend of eco­nomic glob­al­iza­tion is not in re­verse, and the de­mand from ma­jor global mar­kets is still grow­ing,” Gao noted.

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