China-European Union trade rises 12.2% in Q1

 

Bilateral trade between China and the European Union (EU) rose robustly in the first quarter, jumped 12.2 percent year-on-year to reach USD 205.87 billion.

Bilateral trade in mechanical and electrical products, light industrial goods, and high-tech products climbed 10 percent, 19 percent, and 31 percent, respectively, in the first quarter, Gao Feng, spokesperson for the Ministry of Commerce, added.

China and the EU share broad common interests and a profound foundation for cooperation. The two economies are highly complementary, Gao said.

European Union pressures China to open up markets

China is ready to work with the EU to maintain the stability of the industrial and supply chains and foster new growth drivers in epidemic prevention, digital, science, and technology to inject impetus into bilateral economic and trade cooperation development, Gao said.

Deepening bilateral cooperation is beneficial to both sides and the recovery of the world economy, the Ministry of Commerce official added.

 

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