China's foreign trade up 5% in Q1, sets new records

China's total import and export of goods expanded 5 % year on year in yuan terms in the first quarter of 2024, setting new records in scale and growth rate, official data showed on Friday. From January to March, the country's foreign trade in goods stood at 10.17 trillion yuan, according to the General Administration of Customs.
From January to March, China's trade to Belt and Road partner countries increased by 5.5 %, accounting for 47.4 % of total trade. Meanwhile, trade with the EU, the U.S., South Korea and Japan accounted for 33.4 % of total trade.