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Thursday, May 4, 2017, 18:18

Upward trend expected for China foreign trade

By Xinhua

Upward trend expected for China foreign trade
China's exports in yuan-denominated terms rose 14.8 percent year on year. (Photo provided to China Daily)

BEIJING - China's imports and exports are likely to continue their upward trend this year but pressure will remain due to external uncertainties, a report said Thursday.

Foreign trade will be in a better position thanks to improving structure and efficiency and more growth momentum

China's Ministry of Commerce

Foreign trade will be in a better position thanks to improving structure and efficiency and more growth momentum, according to a report by the Ministry of Commerce.

The sound fundamentals have remained unchanged and local companies still have advantages in global trade, said the report.

READ MORE: China to adjust trade pattern

Boosted by a pickup in external demand and a stable domestic economy, China's trade with the rest of the world grew strongly in the first quarter.

Exports in yuan-denominated terms rose 14.8 percent year on year, while imports jumped 31.1 percent. The trade surplus dropped 35.7 percent.

The report warned of a still grim trade situation and called for continued efforts to ensure steady development, citing a shaky recovery of external demand, more competition and trade frictions.

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