Xinhua | Updated: 2025-04-10 10:47
BEIJING -- China's foreign trade has the confidence and capability to address various risks and challenges, Xiao Lu, an official with the Ministry of Commerce, said on Wednesday.
China's vast market potential continues to be unleashed, and measures aimed at stabilizing the economy and foreign trade are being progressively implemented. The fundamental trend of long-term sound economic development remains unchanged, Xiao told a press conference.
However, the global economy is currently facing significant uncertainty, particularly in the trade sector, where supply chain stability is under threat, Xiao said.
The Organisation for Economic Co-operation and Development (OECD) has warned that a broader "trade war" could lead to an increase in trade barriers. As a result, the OECD has revised its projection for global economic growth in 2025 downward by 0.2 percentage points to 3.1 percent. In contrast, it has raised its growth forecast for China by 0.1 percentage points.
"This adjustment reflects the international community's confidence in China's economy and its growing optimism about China's development prospects," Xiao said.
In 2024, China's goods imports and exports reached 43 trillion yuan (about $5.97 trillion). It has become a major trading partner for over 150 countries and regions and has signed 23 free trade agreements with 30 countries and regions.
