China’s import and export growth beat expectations in June, bolstered by a post-pandemic recovery in major economies and government policies to support domestic demand, data from the General Administration of Customs showed Tuesday, reported Caixin.
But despite the strong figures, China’s Ministry of Commerce on Monday outlined measures to provide more support for foreign trade amid concerns that growth will eventually slow and as tensions with major trading partners including the US continue to fester. The government will introduce targeted policies to help alleviate the difficulties faced by enterprises and “fully stabilize foreign trade and foreign investment,” Assistant Minister of Commerce Ren Hongbin told a press conference.
Exports jumped by 32.2% year-on-year to $281.4 billion, the highest value since December 2020, customs data showed. The increase far outpaced the median forecast for 22% year-on-year growth in a Caixin survey of economists and compared with a 27.9% gain in May.