🚀 China's economy is on a roll! Since the start of this year, the Chinese mainland has been making big moves in business, driving high-quality development and boosting the national economy. Li Yongsha, deputy international trade negotiator of China's Ministry of Commerce (MOFCOM), shared the exciting news at a press conference on Friday.
Shopping Spree Alert! 🛒
Consumer spending is on the rise! Total retail sales of consumer goods hit a whopping 23.6 trillion yuan (that's about $3.3 trillion!) in the first half of this year, marking a 3.7% increase. That's a whole lot of shopping bags! 🛍️
Trade Winds Blowing Strong 🌬️
But that's not all—foreign trade is soaring too. Imports and exports of goods and services jumped by 6.1% and 14% respectively in the first half of 2024, contributing 13.9% to economic growth. Talk about leveling up! 💹
According to a MOFCOM survey of 16,000 key foreign trade and foreign-funded enterprises, over 70% of them are optimistic and expect their exports to grow this year. The future's looking bright! ✨
Investing in the Future 💰
Overseas investment and cooperation are booming. Foreign non-financial direct investment reached 516 billion yuan in the first half of this year, up by 19.5%. Plus, the ministry hosted 12 round tables with foreign-funded enterprises to make the business environment even better. Win-win! 🤝
The number of newly established foreign-funded enterprises hit 27,000, and the actual use of foreign investment reached 498.9 billion yuan. That's some serious coin! 🤑
Opening Up and Moving Forward 🌐
Li Yongsha emphasized that the ministry will continue to expand institutional opening up and deepen the reform of the foreign trade system. By further opening up the foreign investment and outbound investment management system, China aims to contribute even more to its modernization journey. Onwards and upwards! 🌟
Reference(s):
China's foreign trade and consumption have maintained steady growth
cgtn.com
