How Chinese Foreign Trade Reached Historic Highs
(source : IANS) (Photo Credit: (source : IANS))
Beijing: According to the data released by Chinese Customs on January 14, China’s import-export in the year 2021 was recorded at $ 60 trillion, which is a new historical record.
Last year, whether it was prevention and control of Kovid or economic development, China was leading the world. The stability of production and consumption laid a strong foundation for the growth of foreign trade. The data for the last two years has proved that the foundation for the long-term recovery of the Chinese economy has not changed.
On the other hand, the global economy is recovering and external demand continues to increase, which is also conducive to the growth of Chinese foreign trade. It is noteworthy that the export of Chinese medicines increased by 101.2 percent. It played a big role in the anti-covid fight.
Enthusiasts of foreign trade cannot be separated from the policies taken by the Chinese government. In the last few years, China has improved the financing of manufacturing enterprises and the commerce environment, and promoted the simplification of cross-border trade and the creation of a free trade test zone.
The year 2021 has seen steady growth in imports and exports of China and major trading partners. The growth rate of China’s import and export along with the Belt and Road countries was 23.6 percent.
(Credits—China Media Group, Beijing)
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First Published : 15 Jan 2022, 08:15:01 PM