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China sees robust foreign trade, international expos champion growth Release date: 2024-07-08    Source:CGTN

The value of China's international trade in goods and services reached a total of 4.06 trillion yuan (about $560 billion) in May 2024, increasing by 7 percent year on year, according to the State Administration of Foreign Exchange on June 28.

China remained the top merchandise exporter in 2023 for the seventh straight year with its share in world exports at 14.2 percent, keeping roughly the same level as the previous year, according to Ministry of Commerce data published in April.

This showed that quality Chinese products are welcomed by the global market. Meanwhile, imports into China's large domestic market have helped drive the economic growth of other countries, the ministry said.

A window into this robust increase is the latest China International Import Expo (CIIE), which featured the signing of a record-breaking number of contracts.

The sixth CIIE saw a total of $78.41 billion worth of tentative deals reached for one-year purchases of goods and services, setting a new high.

The figure represents an increase of 6.7 percent from that of last year, according to Sun Chenghai, deputy director-general of the CIIE Bureau.

The unparalleled number of contracts inked and the great enthusiasm of international exhibitors demonstrate once again that the CIIE, as a platform for high-level opening up, as well as an international public good shared by the world, is a strong propeller for global economic growth.