China's goods trade 'remains strong' in first half of the year - up 2.9% year-on-year: Chinese report

According to customs statistics, China's total trade in goods in the first half of this year reached 21.79 trillion formers (about 448 trillion yen), up 2.9% from the same period last year.
However, China's foreign trade remains strong. Both imports and exports increased in June from the previous month, and imports in particular turned from negative to positive.
The increase in imports was due to improved and expanded domestic demand.
As a result, imports of related products and parts increased. In addition, as sales in the market recovered, imports of food, tobacco, and culture and entertainment products saw their growth accelerate in the second quarter (April-June).
Since the beginning of this year, China has been continuously optimizing and upgrading its foreign trade product structure, and bringing more high-end, green and smart products into the international market.
In the case of private companies, the scale of exports of high-tech products in the first half of the year increased by 12.5% compared to the same period in 2018. Exports of mainstay products such as ships, automobiles, and specialized equipment maintained double-digit growth.
Foreign-affiliated companies also performed well, with their export and import figures increasing 2.4% over the same period, marking the fifth consecutive quarter of growth.
In addition, China and the European Union (EU) are celebrating the 50th anniversary of the normalization of diplomatic relations this year, and trade between the two countries is expected to improve.
During the same period, China's trade with the EU increased by 3.5% to 2.82 trillion formers. The average daily trade volume is 15 billion formers.
This exceeds the total annual trade volume at the time diplomatic relations were normalized.