China seals position as world's top trading country
September was another bumper month for China's trade data and the country is cementing its status as the world's dominant trading nation, Bloomberg reported Tuesday.
China's foreign trade surged by 7.5 percent year-on-year to 8.88 trillion yuan ($1.32 trillion) in the third quarter of 2020, with exports soaring 10.2 percent and imports rising 4.3 percent, according to the General Administration of Customs.
"China's export performance is indeed a proof of its solid status as the world's factory," Bloomberg quoted Yao Wei, China economist at Societe Generale SA, as saying. "It is reliable, as the quick and effective containment of the outbreak in China allowed its manufacturing sector to resume operations way ahead of others."
GAC spokesperson Li Kuiwen told reporters that China's overall share of world trade hit a record in the seven months to July, citing demand that included healthcare equipment and technology.