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Foreign trade expected to surpass $5t in 2025--China Economic Net

China will further relax market access for foreign capital, expand opening-up
China s foreign trade is expected to reach $5.1 trillion in 2025, and the country will increase its exports and imports with Asian, African and Latin American economies during its 14th Five-Year Plan period (2021-25), according to a plan released by the Ministry of Commerce on Friday.
That plan, regarding China s commercial development during the 14th Five-Year Plan period, said the nation will expand the proportion of new forms of foreign trade, such as cross-border e-commerce, from 7 percent in 2020 to 10 percent in 2025 in order to foster new competitive strength.
New business forms and models, particularly cross-border e-commerce, have become a vibrant force driving China s foreign trade. They also represent a substantial trend in the growth of global trade, said Chen Chunjiang, director-general of the ministry s Department of Trade in Services and Commercial Services. ....

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Pressure on exporters could mount in 2nd half

Pressure on exporters could mount in 2nd half
By HU YUANYUAN and ZHONG NAN in Ningbo, Zhejiang |
CHINA DAILY |
Updated: 2021-05-10 07:10
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Cargos are unloaded from a container ship at the container terminal of the Lianyungang Port in East China s Jiangsu province, on Jan 14, 2021. [Photo/Xinhua]
Chinese foreign trade enterprises may face surging pressure in the second half of this year, due to increasing commodity prices, skyrocketing shipping costs and a fluctuating foreign exchange rate, industry experts said.
The pressure will probably emerge in June, said Qiu Zhiming, chairman of Beifa Group, a leading stationery and office supplies manufacturer based in Ningbo, Zhejiang province. The company s exports, which reach nearly 200 countries and regions, account for 16.5 percent of Chinese pen exports. ....

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