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China's foreign trade keeps upward trend in October

Chinese foreign trade continues with the growth trend, official figures released Saturday show, Radio China wrote.
The country's foreign trade expanded 4.6% year-on-year in October. Exports jumped 7.6 percent and imports by 0.9 percent, according to the announcement from the General Customs Administration.

In the first ten months, foreign trade in goods amounted to 25.95 trillion yuan ($3.91 trillion), with 1.1% year-on-year growth.

ASEAN retains its position as the largest trading partner for the said period, followed by the EU and the USA.

Private companies have played a significant role in driving commercial growth.

Mechanical and electrical products occupy the greater share of the country's exports, with a total value of 8.45 trillion yuan in the first 10 months, with 3.8% year-on-year growth.

Exports of textiles, including masks, increased by 34.8% over the period, while those of cars shrank by 6.7%.

The country's most recent efforts to open up the market and stimulate trade include measures such as shortening the list of technologies banned or restricted to imports, strengthening intellectual property protection and others.


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