China: Beijing reports rise in Chinese exports despite US trade war

Vice Minister of the General Administration of Customs of China, Zou Zhiwu, reported an overall rise in Chinese exports for 2019 despite trade tensions with the US, at a press conference in Beijing on Tuesday. «The trade friction between China and the US indeed brings pressure to companies whose main market is the US,» he said. «Although the value of exports to the US has decreased, companies... Еще have been exploring multiple markets,» he added. «The result is remarkable and has enlarged the non-US market while the US market [for Chinese products] has declined. So, the general export level keeps growing,» he stated. Annualised exports rose 0.5 percent in dollar terms last year, growing at the slowest rate for three years amid the trade war with the US. Zou Zhiwu went on to emphasise the potentially positive significance of the Phase One Trade Deal, due to be signed between the US and China on Wednesday 15 of January. «The US and China will sign the Phase One Trade Deal, which is of positive significance to the economy of both sides and to the rest of the world as well as to global trade and the economic outlook,» commented the vice minister. The trade deal that was announced in December will see the US lower its trade tariffs on some Chinese products and China facilitate an increase of US imports into the country.
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