Despite Challenges, Foreign Trade is Set for Stable Growth Ahead.
- design1644
- Nov 14, 2024
- 1 min read
China's foreign trade is expected to maintain steady growth for the rest of 2024, despite potential challenges like higher tariffs and policy shifts in certain countries. Officials encourage exporters to boost competitiveness and expand into emerging markets to counter these obstacles.
Between January and October, China's foreign trade rose by 5.2% to 36.02 trillion yuan, with exports up 6.7%. Demand for China's tech-driven, low-carbon products, such as electric vehicles and batteries, has surged, accounting for 59.4% of total exports.
While traditional markets face slowing demand, global urbanization and industrialization continue to create opportunities.
China's strong industrial base and trade policies support stable growth, with officials indicating potential recovery in electronic product demand. The Ministry of Commerce has expressed willingness to strengthen Sino-US trade ties based on mutual respect and cooperation.
