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China's foreign trade continues drop in September
中國對外貿易繼續下滑
China's imports and exports dropped in September, and have done so throughout the first three quarters of 2015. That was the newly released information from the General Administration of Customs during Tuesday's press conference, held at the Briefing Hall of the State Council Information Office.
China's foreign trade posted a lackluster performance.
Official Customs statistics show China's foreign trade volume totalled nearly 18 trillion yuan, or 2.8 trillion US dollars, in the first three quarters of this year, a drop of nearly eight percent year on year. Exports shrank by 1.8 percent to 10.2 trillion yuan, and imports dropped by 15 percent to 7.6 trillion yuan. The trade surplus surged by 82 percent to 2.6 trillion yuan, or 410 billion US dollars.
Huang Songping, spokesman for the General Administration of Customs says exports continue to shrink in the third quarter, though the monthly decline is narrowing.
But strong momentum has been spotted in exports to emerging markets and some countries along the "Belt and Road" initiative.
Huang Songping said significant achievements have been made in efforts to diversify trade partners. Although the global economic recovery is sluggish and domestic downward pressure is mounting, China has managed to diversify its foreign trade to weather out the tough period. But it's clear that the country's foreign trade has shifted to single-digit growth. That could be seen as a new normal in the sector.
