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China sees robust foreign trade, international expos champion growth The value of China's international trade in goods and services reached a total of 4.06 trillion yuan in May 2024, increasing by 7 percent year on year, official data released on Friday showed. In U.S. dollar terms, export and import values of the country's international trade in goods and services amounted to 302.5 billion U.S. dollars and 268.9 billion U.S. dollars, respectively, the State Administration of Foreign Exchange said. China remained the top merchandise exporter in 2023 for the seventh straight year with its share in world exports at 14.2 percent, almost the same as the level in 2022, according to Ministry of Commerce data published in April.#DeepeningReform China has also remained the second top merchandise importer in 2023 with a share of 10.6 percent, basically the same as the level in 2022, the ministry said. This showed that China's quality products are welcomed by the global market and imports into China's large domestic market have helped drive the economic growth of other countries, the ministry said. A window into this robust increase in the world’s second largest economy is the latest China International Import Expo (CIIE) which featured the signing of a record-breaking number of contracts. The sixth CIIE saw a total of $78.41 billion worth of tentative deals reached for one-year purchases of goods and services, setting a new high. The figure represents an increase of 6.7 percent from that of last year, according to Sun Chenghai, deputy director of the CIIE Bureau. The unparalleled number of contracts inked and the great enthusiasm of international exhibitors demonstrate once again that the CIIE, as a platform for high-level opening up, as well as an international public good shared by the world, is a strong propeller for global economic growth.

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