China foreign trade up 5.2% in the first 10 months

According to statistics released by China's General Administration of Customs, exports rose 6.7% year-on-year to RMB20.8 trillion, while imports increased 3.2% to RMB15.22 trillion in the first ten months.

Merchandise trade grew by 4.6% year-on-year in October alone in yuan-denominated terms. 

With the rising of international recognition of the Chinese currency, yuan’s application in global shipbuilding contract is growing. In October, Canadian shipping company Seaspan placed the first yuan-dominated shipbuilding order at the Chinese shipyard CSSC Hudong-Zhonghua.

During the first ten months, Asean remained China's top trading partner, with bilateral trading volume of RMB5.67 trillion, grew 8.8%, accounting for 15.7% of the nation’s total foreign trade, followed by EU with trade of RMB4.64 trillion, US of RMB4.01 trillion and South Korea of RMB1.91 trillion. 

China's trade with Belt and Road Initiative participated countries and regions also posted a 6.2% growth, totaling in RMB16.94 trillion. Exports increased 8% and imports increased 3.9%.