Despite the range of challenges, such as the global impact of the COVID-19 and surging inflation in many countries, China’s foreign trade is expected to maintain upward growth momentum in the remaining months of the year.

“Global consumption often picks up in the fourth quarter with multiple festivals and celebrations like Christmas in Western countries, which will shore up demand for China’s exports, while many upcoming event, including the China International Import Expo, will also help expand imports,” said Zhou Mi, a senior researcher at the Chinese Academy of International Trade and Economic Cooperation in Beijing (CHINADAILY).

According to Chinadaily, China’s foreign trade in goods turned out to be 3.29 trillion yuan ($508.63 billion) in June, up to 22 percent from a year earlier.

The trade with the Association of Southeast Asian Nations, the European Union and the United States are also growing while the year-on-year growth rates of 27.8, 26.7 and 34.6 percent.

Though the pandemic continues to have a severe impact on global production and recovery, China’s foreign trade will continue to grow and support world economic recovery by offsetting the uncertain situation in global supply chains.

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