More policy support urged for foreign trade growth

China’s foreign trade grew at a much slower pace than expected in May amid multiple headwinds, such as intensifying geopolitical tensions and a sagging world economy, which subdued global demand, prompting experts to call for greater policy support to stabilize the country’s export growth.
As the global economic outlook is forecast to remain gloomy and external demand is expected to weaken, China’s foreign trade will face some pressure. Stronger government support should be provided on an ongoing basis to help address concerns of businesses and sustain stable growth, experts said on Wednesday.
In May, China’s foreign trade expanded 0.5 percent to 3.45 trillion yuan ($485 billion). Exports witnessed a 0.8 year-on-year decrease to 1.95 trillion yuan while import climbed 2.3 percent to 1.5 trillion yuan, according to data from the General Administration of Customs.

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