China's total trade volume exceeded nine trillion yuan (more than 1.4 trillion U.S. dollars) in the first four months of 2018, an increase of nearly nine percent from the same period last year, showed data released by China's Ministry of Commerce on Thursday.
The new data showed China's volume of exports stood at nearly five trillion yuan, an increase of more than six percent. Imports came in at more than four trillion yuan, a jump of nearly 12 percent. The country's trade surplus was more than 500 billion yuan, down about 24 percent.
"As we have reiterated, China is not purposefully pursuing a trade surplus. This was totally caused by the market, and it changes according to changes of the market. China will expand its imports from its own initiative," said Ministry of Commerce spokesman Gao Feng at the press conference.
The improved trade environment will likely continue throughout the year, said Gao, explaining that the numbers reflect an improved global economy as well as a release of pent-up domestic demand.
The spokesman said that the ministry also hopes that China-U.S. trade can become a strong driving force behind global economic growth.
China and the U.S. held their first round of negotiations on May 3-4 in an effort to resolve their ongoing trade disputes. The two countries discussed some key issues, including the trade imbalance, two-way investments, and protecting intellectual property rights. China and the U.S. reached a consensus on some of the issues and agreed to continue negotiating the others.
Sources:cctvplus
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