BEIJING: China has witnessed new progress in foreign trade across all regions, with its western region leading the country in import and export growth in the first eight months of this year, according to official data.
According to a report by China Central Television (CCTV), in the first seven months of this year, the foreign trade between Guangxi Zhuang Autonomous Region in southern China and Vietnam, which share an extensive border, exhibited significant growth. The total value of imports and exports reached CN¥165.82 billion (approximately US$23.29 billion), reflecting a 32 percent increase compared to the previous year.
Vietnam has become Guangxi’s largest trading partner on a single-product economy basis.
“Guangxi and Vietnam enjoy geographical proximity with close economic and trade cooperation. Trade between Guangxi and Vietnam accounts for 16.1 percent of the total trade volume between China and Vietnam, representing a one percentage point increase compared with the same period last year. The reco
very of global demand has revitalised growth in Vietnam’s manufacturing sector, bringing an increased demand for related products from China,” said Xu Jun, director of the statistical analysis department at the Nanning Customs in Nanning, capital of Guangxi.
In terms of regions, the eastern region stands as the cornerstone of China’s foreign trade, while the central and western regions effectively absorb relocated industries. The imports and exports of the three northeastern provinces — Liaoning, Jilin, and Heilongjiang — have continuously hit new heights.
Meanwhile, major regional strategies such as the development of the Beijing-Tianjin-Hebei region, the Yangtze River Delta region, and the Guangdong-Hong Kong-Macao Greater Bay Area have emerged as engines for foreign trade.
According to customs statistics, in the first eight months of this year, the imports and exports of China’s western, eastern, and northeastern regions reached ¥2.59 trillion (around $363.7 billion), ¥22.94 trillion (around $3.22 tri
llion), and ¥825.93 billion (around $115.99 billion), respectively, marking year-on-year increases of 10.1 percent, 6.7 percent, and 2.2 percent, respectively.
During the same period, the imports and exports of the central region reached ¥2.23 trillion (around $313.2 billion), with the monthly import and export volume surpassing ¥300 billion (around $42.13 billion) for two consecutive months.
Source: Emirates News Agency