Beijing (TDI), December 10th (AMSP/CGTN) – – Trade between China and the European Union (EU) maintained its growth trajectory in the first 11 months of 2024, rising by 1.3 percent year-on-year, according to the latest data from Chinese customs.
Bilateral trade totaled 5.09 trillion yuan ($702.06 billion) during the January-November period, reflecting a marginal improvement from the January-October growth rate of 1.2 percent.
The EU remained China’s second-largest trading partner, accounting for 12.8 percent of China’s total trade volume.
China’s exports to the EU surged by 3.8 percent to 3.34 trillion yuan, while imports from the bloc fell by 3.3 percent to 1.75 trillion yuan during the same period.
The trade figures come amid global uncertainties and recent protectionist measures by the EU, such as the imposition of additional tariffs on Chinese electric vehicles in October.
Analysts credit the resilience of China-EU trade to the strong complementarity of their economies and their deeply integrated industrial and supply chains, according to Global Times.
Ling Ji, China’s Vice Commerce Minister, emphasized Beijing’s commitment to high-level economic openness, pledging to provide foreign businesses, including European firms, with a fair and internationalized business environment.
Overall, China’s total foreign trade reached 39.79 trillion yuan in the first 11 months of 2024, up 4.9 percent year-on-year, with exports growing 6.7 percent and imports rising 2.4 percent.
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