China’s exports jump in Jan-Feb despite drop in U.S. trade

The strong performance was attributed to recovering global demand, policy dividends, China's industrial strengths, and renewed vitality among small market entities, said Yan Min, a division head at the State Information Center's Department of Economic Forecasting Total goods trade volume reached 7.73 trillion yuan ($1.12 trillion) during the period Exports rose 19.2% from the same period last year to 4.62 trillion yuan, while imports increased 17.1% to 3.11 trillion yuan Trade with major partners continued to expand. China's trade with the Association of Southeast Asian Nations (ASEAN) reached 1.24 trillion yuan, up 20.3% year-on-year, while trade with the European Union rose 19.9% to 998.94 billion yuan. Meanwhile, China's trade with the United States totaled 609.71 billion yuan, down 16.9% compared with a year earlier Trade with countries participating in the Belt and Road Initiative also maintained strong momentum, rising 20% year-on-year to 4.02 trillion yuan Private enterprises continued to play a leading role in driving foreign trade growth. During the January–February period, private firms recorded 4.51 trillion yuan in trade, up 22.8% year-on-year. Foreign-invested enterprises reported 2.2 trillion yuan, up 15.3%, while state-owned enterprises logged 1 trillion yuan, up 7.4% Earlier, Qazinform reported Kazakhstan’s vegetable oil exports to China were up 44%