China's foreign trade expected to exceed $1 trillion

China’s foreign trade expected to exceed $1 trillion

China's foreign trade volume is expected to surpass $1 trillion this year, according to the Ministry of Commerce. Country's foreign trade volume was $851.2 billion last year, up by 37.1% year-on-year and ranking fourth in the world, following the US, Germany and Japan. In the first half of this year, trade volume reached $523 billion with an increase of 39.1% from a year earlier. It is stated that the current revival in the US economy was a good signal for the global economy. The global economic growth is expected to reach 4.7% this year. At the same time, China has strictly fulfilled its commitments to the World Trade Organization (WTO) since its entry into the WTO. These commitments contributed to the fast growth of China's imports and exports.