The Financial Express
Swasti Lankabangla Swasti Lankabangla

China sees steady growth in trade with B&R countries in Jan-Sept

| Updated: October 15, 2019 14:54:17

Reuters file photo used for representation Reuters file photo used for representation

China's trade with countries along the Belt and Road (B&R) posted robust growth in the first three quarters of this year, official data showed Monday.

Trade with B&R countries totalled 6.65 trillion yuan (about US$940.3 billion) during the period, up 9.5 per cent year-on-year, outpacing the country's total trade growth by 6.7 percentage points, according to the General Administration of Customs (GAC).

China's foreign trade maintained stable growth in the first nine months of this year by expanding 2.8 per cent year-on-year.

Trade with B&R countries also registered a higher share of China's total trade, which stood at 29 per cent, up by 1.8 percentage points over one year ago.

The GAC attributed the robust trade growth with B&R countries to enhanced customs cooperation. It has signed mutual Authorized Economic Operator (AEO) agreements with 41 countries and regions to facilitate customs clearance for enterprises, 18 of which are B&R countries and regions.

China's trade with the European Union and ASEAN countries stood at 3.57 trillion yuan and 3.14 trillion yuan, up 8.6 per cent and 11.5 per cent, respectively while the country's trade with Japan reached 1.58 trillion yuan.


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