China's exports to rise in 2024 amid industrial upgrades, e-com boost

Several Chinese firms are focusing on developing and exporting technologically-sophisticated, eco-friendly and high-value products, they said.

These efforts, along with bilateral and multilateral free trade agreements, will help maintain a healthy growth trajectory through the second half of the year, a state-controlled media outlet reported.

China's two-way trade in goods expanded by 5.7 per cent year on year (YoY) to 13.81 trillion yuan (~$1.91 trillion) in the first four months this year, while its exports rose by 4.9 per cent to 7.81 trillion yuan (~$1.08 trillion), the general administration of customs (GAC) said.

Positive factors in foreign trade have been steadily improving since the year began, and the momentum has continued to strengthen, said Lyu Daliang, director of the GAC's department of statistics and analysis.

Lyu said the growth rate of imports and exports in the first four months has accelerated compared to the first quarter of this year, and the scale has reached a new historical high for the period.

The acceleration of new forms of foreign trade represented by cross-border e-commerce is another contributing factor driving China's exports, another academic said.

Several Chinese companies have also been strengthening tie-ups with partners in Central and Eastern Europe, Africa, Southeast Asia and the Middle East, said Edward Kieswetter, chairman of the Brussels-based World Customs Organisation.

Fibre2Fashion News Desk (DS)