China exports rise in Q1 on strong Asean trade

China’s exports rose 6.9 percent year-on-year in the first quarter to 6.13 trillion yuan (HK$6.52 trillion), a steady start to the year despite growing external headwinds, according to the General Administration of Customs.

The country’s total trade reached 10.3 trillion yuan in the first three months, up 1.3 percent from a year earlier, with imports falling 6 percent to 4.17 trillion yuan.

The Association of Southeast Asian Nations remained China’s largest trading partner in the March quarter, with total trade rising 7.1 percent to 1.71 trillion yuan, accounting for 16.6 percent of China’s total foreign trade.

Belt and Road Initiative countries contributed 51.1 percent to China’s total foreign trade in the first quarter, with imports and exports rising 2.2 percent year-on-year to 5.26 trillion yuan — setting a new record for the period.

Trade with the European Union rose 1.4 percent year-on-year to 1.3 trillion yuan in the first quarter.

STAFF REPORTER