China's foreign trade growth improves its industrial competitiveness: expert
0 Comment(s)
Print
E-mail China.org.cn, July 16, 2018
The growth of China's total volume of exports and imports has expanded the space for international economic cooperation and this, in turn, has improved its industrial competitiveness, according to Vice President Zhao Zhongxiu of the University of International Business and Economics (UIBE).
The total volume of exports and imports in the first half of 2018 went up by 7.9 percent and the trade structure has continued to improve, according to a press briefing by the State Council Information Office of China.
Customs statistics show the volume of exports and imports in goods in the first half of this year totaled 14.12 trillion yuan, up by 7.9 percent year-on-year.
China's non-financial outbound direct investment (ODI) saw steady growth in the first half of 2018. Domestic investors made 57.2 billion U.S. dollars of non-financial ODI in over 3,600 overseas enterprises in 151 countries and regions in the first six months, the Ministry of Commerce said. The investment was up 18.7 percent from the same period last year.
ODI in countries along the Belt and Road rose 12 percent from a year earlier to 7.4 billion dollars during the first half.
By the end of June, China had built 113 overseas economic and trade cooperation zones in 46 countries, with a total investment of 34.9 billion dollars and attracting more than 4,500 companies.
The cooperation zones created total tax revenue of 2.9 billion dollars and 287,000 jobs in host countries.
China's GDP growth reached 6.8 percent year-on-year in the first half of this year, beating general market expectations. Growth in the second quarter was 6.7 percent, compared with 6.8 percent in the first quarter, according to the National Bureau of Statistics (NBS).
China on Friday announced the 100-day countdown to the opening of the China International Import Expo (CIIE), which will be held in Shanghai from Nov. 5 to 10.
More than 2,800 companies from overseas will participate in the expo, including over 200 businesses on the Fortune Global 500 list and industry leaders.
The companies, covering a total booth area of 270,000 square meters, are from over 130 countries and regions across five continents, including developed, developing and the least developed countries. Over 150,000 buyers from home and abroad are estimated to attend the expo.
Go to Forum >>0 Comment(s)