China’s foreign trade of goods jumped 10.4 percent year on year to 23.6 trillion yuan (about 3.5 trillion U.S. dollars) during the first seven months of the year, official data reveals.
Notably, exports rose 14.7 percent year on year to 13.37 trillion yuan, while imports increased 5.3 percent from a year ago to 10.23 trillion yuan, according to the General Administration of Customs.
The country has been facing increasing pressure on its economy due to shutdown policies that have resulted in mixed data on manufacturing and Gross Development products. Domestically, China has inflation concerns, a property bubble, and recession worries.
However, on the bright side, factories are looking forward CPTTP to kicking in which could give a boost to manufacturing and the potential trickle-down effect.
