China's foreign trade up 5% in Q1

China's foreign trade grew by 5 percent year-on-year to 10.17 trillion yuan ($1.41 trillion) in the first quarter of 2024, according to date released on Friday from the General Administration of Customs (GAC).

In the meantime, the country's exports grew by 4.9 percent year-on-year to 5.74 trillion yuan, while imports rose 5 percent on a yearly basis to 4.43 trillion yuan.

Speaking at a news conference in Beijing, Wang Lingjun, vice-minister of the GAC, said that China's imports and exports volume between January and March surpassed 10 trillion yuan for the first time compared with the same period of the previous years with its growth rate hitting a six-quarter high.

China's trade with economies participating in the Belt and Road Initiative rose 5.5 percent year-on-year to 4.82 trillion yuan during the three-month period, accounting for 47.4 percent of its total foreign trade value in the first quarter, according to the GAC data.