Experts say China’s industry and supply chain will help to withstand rising pressure in the coming months and maintain export momentum, with strong import growth accelerating the expansion of China’s economy. He said he was showing signs. Imports increased by about 22% from the previous year to 15.81 trillion yuan from January to November.
In November alone, exports increased 16.6% year-on-year to 2.09 trillion yuan and imports increased 26% to 1.63 trillion yuan.
November exports and imports increased 7.6% and 16.6% month-on-month, respectively, reversing the 2.1% and 10% month-on-month declines seen in October.
Experts say China’s industry and supply chain will help to withstand rising pressure in the coming months and maintain export momentum, with strong import growth accelerating the expansion of China’s economy. He said he was showing signs. Imports increased by about 22% from the previous year to 15.81 trillion yuan from January to November.
According to data from the General Administration of Customs (GAC), the trade surplus has risen by more than 20% year-on-year to 3.77 trillion yuan in 11 months. During the period, the country’s foreign trade value was 35.39 trillion yuan ($ 5.56 trillion), an increase of 22% from the previous year, exceeding the 32.16 trillion yuan recorded for the whole last year.
During the period, exports increased by nearly 22% year-on-year to reach 19.58 trillion yuan. According to official Chinese media, this figure was almost 26% higher than during the same period in 2019.
Fiber2Fashion News Desk (DS)
Import growth is a sign of an accelerating expansion of the Chinese economy
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