China's foreign trade in goods maintained a growth momentum in the first eight months of 2024, totaling 28.58 trillion yuan (4.02 trillion U.S. dollars), up 6 percent year on year, according to data released by the General Administration of Customs (GAC) on Tuesday.
In breakdown, the exports of goods rose 6.9 percent to 16.45 trillion yuan (2.3 trillion U.S. dollars), while the imports of goods increased by 4.7 percent to 12.13 trillion yuan (1.7 trillion U.S. dollars), according to the customs statistics.
"Since the beginning of this year, China's economic performance has continued to pick up and improve. A recently published WTO report shows that the global trade in goods has maintained a recovery trend in the third quarter. Driven by domestic and international demands, in the first eight months this year, China's imports and exports continued to grow, with manufacturing industries such as electronic and transportation equipment registering double-digit growth in foreign trade, and the import volume of energy and mineral products increased by 4.9 percent. According to the latest data from various economies, China's global share of exports and imports expanded steadily in the first half this year," said Lyu Daliang, director of the statistics and analysis department under the GAC, in an interview with China Central Television.
China's foreign trade in goods maintains growth momentum in Jan-Aug
China's foreign trade in goods maintains growth momentum in Jan-Aug
China's foreign trade in goods maintains growth momentum in Jan-Aug
Beijing's consumer gold market has been running hot during the Mid-Autumn Festival holiday, despite recent rises in the gold price on international markets.
Last week, the main contract for gold futures on the New York Mercantile Exchange (COMEX) has risen to over 2,600 U.S. dollars per ounce.
At a gold shop in Beijing's Xicheng District, the price of pure gold jewelry went up to about 737 yuan (about 104 U.S. dollars) per gram, but many shoppers are still looking to buy gold jewelry especially during the Mid-Autumn Festival holiday and the end-of-summer wedding season.
"It is now more than 700 yuan (about 98.7 U.S. dollars) per gram, but when we were here about two months ago, it was only just above 600 yuan (about 84.6 U.S. dollars) per gram," said a customer.
"I'm getting married, so I came to have a look. Even if the price goes up, we still have to buy it," said another customer.
"I had nothing to do during the holidays, so I came here to take a look [at the gold jewelry]. I just bought a lucky charm bead and now I want to take a look at the bracelet," said another customer.
At the shop's gold investment counter, many consumers have been making inquiries about gold bars, which has long been considered a safe investment, although experts recommend caution in the rising gold market.
At the shop's gold investment counter, many consumers have been inquiring about gold bars, which have long been considered a safe investment. However, experts recommend caution in the rising gold market.
"Many investors will buy gold bars for medium- to long-term investment based on their expected price as part of their overall family asset allocation. We suggest that investors be more rational in their decisions," said Li Yang, a senior gold investment analyst.
Beijing consumer gold market remains hot despite rising prices
