Foreign Trade Data Exceeds Expectations, Showing China's Economic Resilience And Potential
According to data released by the General Administration of Customs of China a few days ago, in the first seven months of this year, the total value of my country's import and export of goods trade was 23.6 trillion yuan, a year-on-year increase of 10.4%. Foreign trade has overcome many adverse effects and achieved rapid growth. Among them, US dollar-denominated exports increased by 18% year-on-year in July, which was higher than the general expectations of overseas media and economists. Overseas media and experts believe that the latest foreign trade data shows the resilience of China's economy and provides support for the continued steady development of China's economy.
The Wall Street Journal reported that Chinese exports have shown a strong recovery trend in recent months and remained surprisingly resilient through July, again breaking global expectations for weakening demand for Chinese-made goods. China's exports grew faster than the newspaper's median forecast in July from a year earlier, official data showed.
An article published by Singapore's Lianhe Zaobao said China's exports in dollar terms rose 18% year-on-year in July, higher than the median forecast of several professional research institutions. Cumulative export growth from January to July was faster than expected, breaking expectations that weaker global demand would put pressure on trade and providing strong support for the Chinese economy.
Bambang Suryono, chairman of the Asian Innovation Research Center, an Indonesian think-tank, said in an interview with Xinhua News Agency that China's latest export data performed well, showing that China's manufacturing capacity has recovered rapidly. Thanks to a rebound in exports, China's economy is expected to continue to strengthen steadily in the coming months.
Ong Tak Seng, a Singaporean current affairs commentator, said that the latest data shows that China's foreign trade and economy are stable and improving in the first seven months of this year, which once again proves that mutual benefit and creating a win-win situation are the right way to boost the world economy.
Brendan Ahern, chief investment officer of U.S.-based Jinrui Fund, said that China's latest export data is strong, which is a strong indicator that the world economy will continue to grow despite the negative impact.
Nicholas Lardy, a senior researcher at the Peterson Institute for International Economics, a US think tank, told Xinhua that exports continued to rise more than expected, indicating that China's economy has become more competitive.
Evandro Carvalho, head of the Brazil-China Research Center of the Vargas Foundation in Brazil, said the latest data shows that China has the necessary conditions to continue to achieve sustainable and high-quality growth. With economic development, the number of middle-income people will continue to expand, and these factors will help China's economy achieve a virtuous circle and keep moving forward.
LaRouche, founder and chairman of the German think tank Schiller Institute, is very optimistic about China's future economic development. He believes that China's economic resilience lies in the fact that China has always emphasized technological innovation. China regards technological innovation as the core driving force of development, and it is worth learning from other countries in focusing on technological innovation and promoting sustainable development. China's achievements have shown all countries that correct development concepts and persistent technological innovation are the source of strength for sustainable economic development.
Cai Weicai, senior vice president of Thailand's Kasikorn Bank, said that China has a huge market with a large population, and the Chinese economy has huge development potential and resilience. China's export trade has still achieved good growth during the epidemic, which is commendable. While stabilizing its domestic market, China has made every effort to expand overseas markets, promote cross-border international trade and investment, and drive its own and regional economic development.
In an interview with a reporter from Xinhua News Agency, Vietnamese scholar Do Thi Thuy said that China, the world's second largest economy, has strong economic resilience, strong development potential and momentum, and a bright future in the context of global challenges such as the new crown epidemic.
