Thursday, June 30, 2022

China witnesses expansion in foreign trade

Must read

- Advertisement -

China said it witnessed notable expansion in foreign trade during the past decade amid the country’s efforts to build an open economy.

Wang Lingjun, the Deputy Head of the General Administration of Customs, disclosed this while briefing newsmen on Friday.

Lingjun said this made China remain the world’s largest goods trading country for five consecutive years since 2017.

He said the total imports and exports of goods had climbed from 24.4 trillion yuan to about 3.6 trillion U.S. dollars in 2012 to 39.1 trillion yuan in 2021.

Lungjun said the expansion had further consolidated China’s role as the world’s largest goods trading country,

READ ALSO:   CBN’s eNaira to grow Nigeria’s GDP by $29bn in 10yrs — Buhari

He said in addition to the sustained rise in trade volume, the country had also seen improvements to the structure of foreign trade, with new drivers successively emerging.

“China’s foreign trade has shown greater competitiveness in international competition, played a bigger role in driving economic growth and built a stronger foundation for long-term sound development,” Lingjun said.

The official said during the past decade, efforts had been made to streamline administrative procedures at ports, supporti the building of opening-up platforms, and promote the orderly development of new forms of foreign trade.

Xinhua/NAN

www.legit.ng

- Advertisement -

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest article

- Advertisement -
cosgrove

- Website Designed By DEBORIAN.COM, a Nigerian Web Designer and Web Developer -