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The recovery growth in foreign trade


China´s exports rose by 1.4% year-on-year in yuan terms to 1.46 trillion yuan in May, according to data released by the General Administration of Customs (GAC) on Sunday. Imports fell by 12.7% to 1.01 trillion yuan last month, resulting in a trade surplus of 442.75 billion yuan, the GAC said. Foreign trade of goods decreased by 4.9% year-on-year in May to 2.47 trillion yuan. 

In the first five months, foreign trade of goods dropped by 4.9% year-on-year to 11.54 trillion yuan, maintaining the same level of decrease during the January-April period. 

During the January-May period, ASEAN remained as China´s largest trading partner with trade up by 4.2% year-on-year to 1.7 trillion yuan, accounting for 14.7% of China´s total foreign trade. 

Trade with the EU, the US and Japan decreased during the period, GAC data showed. 

Noting that the COVID-19 pandemic has brought shockwaves to global trade, experts say it is crucial for China to strengthen the implementation of measures to stabilize foreign trade.