• Linkdin

Robust growth in China's trade with Belt and Road nations

23 May '22
2 min read
Pic: Shutterstock
Pic: Shutterstock

China's economic and trade ties with countries that are part of the Belt and Road initiative have significantly strengthened over the past decade, according to Sheng Qiuping, vice minister of commerce, who recently said from 2013 to 2021, the annual trade volume between China and such countries expanded from $1.04 trillion to $1.8 trillion—a rise of 73 per cent.

"Despite the protracted COVID-19 pandemic and complicated international situation, the building of the Belt and Road Initiative continues to demonstrate strong resilience and vitality, injecting strong impetus into global openness and cooperation and world economic recovery," Sheng told a press conference.

During this period, China's direct investment in countries along the Belt and Road totaled $161.3 billion dollars, while 32,000 enterprises were established in China by these countries, with a combined investment of $71.2 billion dollars, Sheng was quoted as saying by official Chinese media.

China signed new contracts worth about $1.08 trillion dollars with countries along the Belt and Road in the period for engineering projects in transportation, electricity and other areas, he said.

In the first four months of this year, China's imports and exports with countries along the Belt and Road jumped 15.4 per cent year on year to 3.97 trillion yuan ($588 billion), 7.5 percentage points higher than the overall growth of China's foreign trade, said Wang Lingjun, deputy head of the general administration of customs.

Fibre2Fashion News Desk (DS)

Leave your Comments

Esteemed Clients

TÜYAP IHTISAS FUARLARI A.S.
Tradewind International Servicing
Thermore (Far East) Ltd.
The LYCRA Company Singapore  Pte. Ltd
Thai Trade Center
Thai Acrylic Fibre Company Limited
TEXVALLEY MARKET LIMITED
TESTEX AG, Swiss Textile Testing Institute
Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)
Taiwan Textile Federation (TTF)
SUZHOU TUE HI-TECH NONWOVEN MACHINERY CO.,LTD
Stahl Holdings B.V.,
Advanced Search