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China’s commercial activity grew 29.2% in January-March period

China’s commercial activity grew 29.2% in January-March period

Beijing, Apr 13 (Prensa Latina) China reported on Tuesday its commercial activity grew 29.2% year-on-year in the first quarter of 2021 and the recovery continued to boom thanks to constant export dynamism.
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According to General Administration of Customs, total number of China´s foreign trade during January-March period was $8.47 trillion yuan (US$1.29 trillion).

In detail, Chinese exports increased 38.7%, imports 19.3%, and surplus reached $759.290 billion yuan (US$115.978 billion).

China also kept on the rise its trade activities with member nations of the European Union, the Association of Southeast Asian Nations, the Belt and Road initiative and even with the United States that has been facing up a trade war with China since 2018.

China closed last year with a 1.9% expansion in commercial activity and 2.3% in the Gross Domestic Product (GDP).

Authorities envisage a greater recovery and even an over 6% GDP expansion in 2021, because more and more companies stabilize their operations after gaining control over Covid-19.

In addition, local authorities are planning to strengthen the domestic market and alliances with friendly nations and regions as an alternative to overcome US sanctions and global crisis derived from the Covid-19 pandemic.

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