GLOBALink | China's foreign trade of goods up 10.4 pct in first 7 months
China's foreign trade of goods jumped 10.4 percent year on year to 23.6 trillion yuan (about 3.5 trillion U.S. dollars) during the first seven months of the year, official data showed Sunday.
Exports rose 14.7 percent year on year to 13.37 trillion yuan, while imports increased 5.3 percent from a year ago to 10.23 trillion yuan, according to the General Administration of Customs (GAC).
During the period, China's trade with the Association of Southeast Asian Nations, the European Union and the United States, expanded by 13.2 percent, 8.9 percent and 11.8 percent from a year ago, respectively.
From January to July, China's trade with Belt and Road countries and other members of the Regional Comprehensive Economic Partnership (RCEP) soared by 19.8 percent and 7.5 percent year on year.
In July, trade with RCEP partners reached 1.17 trillion yuan, up 18.8 percent year on year, boosting the overall foreign trade growth by 5.6 percentage points, said Li Kuiwen, spokesperson for the GAC.
Produced by Xinhua Global Service
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GLOBALink | China's industrial profits down 2.1 pct in first 8 months
Profits of China's major industrial firms fell 2.1 percent year on year in the first eight months of 2022, official data showed on Tuesday.
Industrial firms each with annual main business revenue of at least 20 million yuan (about 2.83 million U.S. dollars) saw their combined profits reach 5.53 trillion yuan in the period, the National Bureau of Statistics (NBS) said.
The combined revenues of these firms sustained a quicker growth pace during the period, rising 8.4 percent year on year to 87.89 trillion yuan, NBS data showed.
Senior NBS statistician Zhu Hong pointed out the improvement in business profit structure, noting that curbed rising momentum in the prices of some commodities eased pressure on downstream producers.
A total of 16 out of 41 major industries saw growth in profits in the January-August period. The electrical machinery and equipment manufacturing sector saw profits jump 20.9 percent year on year and the profits of the manufacturing of chemical raw materials and chemical products rose 5 percent.
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EU formally approves additional €5 billion assistance to Ukraine
The Council of the European Union today formally decided to provide €5 billion of additional macro-financial assistance (MFA) to Ukraine as a matter of urgency.
On 9 September, at an informal meeting of the Ecofin Council in Prague, EU finance ministers agreed to provide an additional €5 billion in assistance for Ukraine. This additional aid was officially approved today after the necessary formal steps were completed in just 11 days.
This financial assistance complements other EU support to Ukraine in the humanitarian, development, customs and defence fields.
This €5 billion macro-financial assistance will be provided to Ukraine in the form of highly concessional long-term loans. It constitutes the second stage in the implementation of the EU’s planned exceptional macro-financial assistance to Ukraine of up to €9 billion, announced by the European Commission this May.
The EU says a decision on the implementation of the third phase of the Union’s exceptional macro-financial assistance of up to €3 billion will be taken shortly, once the structure of this assistance has been determined.
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