China’s import and export volume exceeded US$6 trillion for the first time

China's import and export volume exceeded US$6 trillion for the first time

According to China CCTV news reports, the State Council Information Office held a press conference this morning (14th), and Li Kuiwen, spokesman of the General Administration of Customs and director of the Department of Statistics and Analysis, introduced the import and export of foreign trade in 2021.

According to customs statistics, China’s total import and export value of goods trade last year was 39.1 trillion RMB (about 8.28 trillion Singapore dollars), an increase of 21.4% compared with 2020.

In dollar terms, China’s imports and exports reached US$6.05 trillion, breaking the US$6 trillion mark for the first time.

Xinhua Finance.com reported that Li Kuiwen said that this year, foreign trade is faced with more uncertain, unstable and unbalanced factors, and China’s economic development is facing triple pressures of shrinking demand, supply shocks and weakening expectations. Coupled with the high foreign trade base in 2021, the foreign trade operation in 2022 will face certain pressure.

However, he pointed out that China’s economy is resilient, and the fundamentals of its long-term improvement will not change, which will continue to provide strong support for stabilizing foreign trade.