(Yicai) July 14 -- China’s imports and exports expanded 2.9 percent in the first six months from a year earlier, demonstrating strong resilience despite continued external pressures and challenges, according to the latest data.

The total value of foreign trade reached CNY21.8 trillion (USD3 trillion) in the six months ended June 30, according to data released today by the General Administration of Customs. Exports surged 7.2 percent to CNY13 trillion (USD1.8 trillion), while imports tumbled 2.7 percent to CNY8.8 trillion (USD1.2 trillion).

In June alone, foreign trade climbed 5.2 percent year on year to CNY3.85 trillion (USD530 billion), with exports jumping 7.2 percent to CNY2.3 trillion (USD320 billion) and imports advancing 2.3 percent to CNY1.5 trillion (USD210 billion).

China’s trade with more than 190 countries and regions saw growth in the first half, said Wang Lingjun, vice minister of the General Administration of Customs. Sixty-one trading partners logged over CNY50 billion (USD6.9 billion) in trade with China, five more than a year earlier.

China’s total trade with the European Union climbed 3.5 percent in the first six months from a year earlier to CNY2.82 trillion (USD390 billion). Exports to the EU jumped 7.9 percent to CNY1.92 tillion (USD270 billion), with products like textiles, home appliances and laptops seeing robust growth. Imports from the EU slumped 4.8 percent to CNY900 billion (USD120 billion). More than 60 percent of China’s imports of healthcare products, bags and jewelry are from the EU.

Trade with the Association of Southeast Asian Nations surged 14.3 percent over the period to CNY3.67 billion (USD510 billion), while exports to Vietnam jumped 21 percent and that to Thailand 23.4 percent. Exports to Japan climbed 6 percent to CNY560 billion (USD76.7 million).

China’s trade with Africa expanded 14.4 percent to CNY1.18 tillion (USD160 billion), with exports surging 23.3 percent to CNY7.4 billion (USD1 billion), said Lv Daliang, spokesperson for the General Administration of Customs.

China has granted zero tariffs to all least-developed countries that have diplomatic ties to China since Dec. 1 last year, Lv said. Next, China plans to extend this zero-tariff policy to all 53 African nations that it has diplomatic relations with, using its large market to drive shared development.

Trade with the United States, though, took a hit due to Washington’s so-called “reciprocal tariffs.” Total trade tumbled 9.3 percent to CNY2.08 trillion (USD287 billion). Exports to the US slumped 9.9 percent to CNY1.5 trillion (USD214 billion), while imports fell 7.7 percent to CNY530.3 billion (USD73 billion).

Private companies led the way in terms of exports during the first half, with shipments jumping 8.3 percent to CNY8.5 trillion (USD1.1 trillion). The second quarter marked the 21st straight quarter of year-on-year trade growth for China’s private sector, Wang said.

Foreign-invested firms exported CNY3.5 trillion (USD480 billion) worth of goods, up 5.4 percent, and state-owned enterprises exported CNY968.7 billion (USD134 billion) worth, a gain of 3.8 percent.

Exports of high-tech products jumped 9.2 percent in the first half, marking nine consecutive months of growth, Lv added. Exports of high-end machine tools, ships and maritime engineering equipment all surged by over 20 percent, while exports of instruments and gauges soared 14.7 percent.

Chinese companies are also customizing products for different markets to much acclaim. For instance, they have developed solar-powered phones for regions with electricity shortages and they have rolled out dust-proof, high-temperature resistant engines for those who live in desert regions.

China and the US are working hard to implement agreements from the London framework talks, Wang said. He expressed hope that the US would continue to ‘meet China halfway’ to ensure that co-operation is the main theme of trade relations between the two countries and to help restore fairness and openness to global trade, ultimately contributing to global economic recovery and growth.

Editor: Kim Taylor