国内英语资讯:Xinhua Headlines: Chinas trade growth weathers US tariff headwinds_时事

国内英语资讯:Xinhua Headlines: Chinas trade growth weathers US tariff headwinds

Wednesday's data showed that China's trade with the United States totaled 2.29 trillion yuan in the first seven months, up 5.2 percent year on year.

During the same period, trade with the European Union, its largest trading partner, climbed 5.9 percent, and trade volume with ASEAN countries increased by 11.6 percent.

Trade with countries along the Belt and Road totaled 4.57 trillion yuan, up 11.3 percent year on year, 2.7 percentage points faster than the average growth rate, data showed.

"The tariffs have so far had a limited impact on overall trade," China Merchants Securities said in a research note.

While short-term effects might be mild, the impact of U.S. tariffs on China's trade may be gradually revealed as time passes and more tariffs on Chinese goods threatened by the United States take effect, it noted.

MORE BALANCED TRADE

Wednesday's data also revealed a more balanced trade picture, with China's imports jumping 20.9 percent to reach 1.21 trillion yuan in July.

Thanks to the surge, the trade surplus narrowed by 42.6 percent to 176.96 billion yuan last month. In the first seven months, the trade surplus narrowed by 30.6 percent compared with a year ago.

China has been seeking a more balanced trade pattern, with a series of pro-import policies introduced.

Earlier in July, China's State Council released guidelines on expanding imports, promising tariff cuts, clean-ups of unreasonable price mark-ups, and better intellectual property rights protection.