China import/export growth better than forecast

China's foreign trade performance remained strong in the first nine months of the year, but growth rates were slowing down quarter on quarter, authorities announced on Wednesday.

China's import and export volumes totalled 28.33 trillion yuan (4.39 trillion US dollars) in the first three quarters of 2021, a year-on-year increase of 22.7%.

This also marked a 23.4% increase from the same period in the pre-pandemic era of 2019, official data shows.

China's foreign trade is "leading the field among the world's major economies," Li Kuiwen, spokesperson of China's General Administration of Customs, told reporters in Beijing on Wednesday morning.

However, the growth rates of China's foreign trade are starting to slow down quarter on quarter.

The year-on-year growth rates of China's imports and exports this year were 29.7%, 25.2 % and 15.2% in each quarter respectively.

This trend is likely to continue into the fourth quarter, but officials are still positive about the prospect of China's foreign trade performance.

China's exports and imports both recorded double-digit growth in the first three quarters of 2021, registering a year-on-year increase of 22.7% and 22.6% respectively.

Imports and exports grew by 15.4% in September, a growth rate that's 3.5% slower than that in the previous month.