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Expert sees moderate growth of China's foreign trade

China's foreign trade of goods climbed 4.3 percent year-on-year in the first four months to 9.51 trillion yuan (about 1.41 trillion U.S. dollars), indicating a moderate growth of foreign trade, according to the expert.

Exports increased by 5.7 percent year-on-year to 5.06 trillion yuan during this period, while imports went up by 2.9 percent to 4.45 trillion yuan, based on the General Administration of Customs (GAC).

Trade in April expanded by 6.5 percent to reach 2.51 trillion yuan. Exports grew by 3.1 percent in yuan terms, while imports jumped by 10.3 percent.

Professor John Gong from the University of International Business and Economics said the growth is very moderate and even fell a little bit in dollar terms.

I see some signs of weakness, such as exports are growing slower than imports. The trade tensions between China and the U.S. are starting to see some impact, so we need to solve these issues very soon, said Gong.

As for how the data relates with the Belt and Road Initiative, he said the importance of the program is to stimulate the economy.

This trade increase is making up for the loss with the U.S. trade. It is very important that the BRI should continue and the accompanying investment and trade opportunities should continue and contribute to further robust exports from China's perspective, he said.

To date, 127 countries and 29 international organizations have joined the initiative, through which China has made investments of more than 90 billion U.S. dollars to these countries and regions.

(CGTN)

Business & Economy