Video PlayerClose by Xinhua writers Zheng Xin and You Zhixin BEIJING, Jan. 14 (Xinhua) — China’s total goods imports and exports expanded 1.9 percent year on year to 32.16 trillion yuan (about 5 trillion U.S. dollars) in 2020, hitting a record high despite a worldwide slump in shipments, official data showed Thursday. Exports rose 4 percent, while imports went down 0.7 percent, according to the General Administration of Customs (GAC). In December alone, exports surged by 10.9 percent year on year in yuan terms. China emerged from the global economic and trade challenges in 2020 as the world’s only major economy to have registered positive growth in foreign trade in goods, GAC spokesperson Li Kuiwen told a news conference. During the first 10 months of last year, the country’s foreign trade and exports accounted for 12.8 percent and 14.2 percent of the world’s total, respectively, both reaching historic highs, Li said, citing data from the World Trade Organization and available national statistics. “China’s exports are gaining global market share for two reasons,” said Alicia Garcia Herrero, the chief economist for the Asia-Pacific zone of the French investment bank Natixis. “First, it has successfully contained the spread of the virus and… Read full this story
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