China Exports Surge On Demands From US, EU, ASEAN

China's latest figures released on Tuesday showed a rise in exports, while bilateral trade with the US rose to $165 billion in the first three months of the current fiscal year.

The country's exports to the US increased by 61.3% during this period, the General Administration of Customs said.

The EU, the Association of Southeast Asian Nations (ASEAN), and the US are China's top three trading partners, according to the Chinese daily Global Times.

In the same period, Beijing saw a 36.4% increase in exports to the EU and 26.1% rise to ASEAN.

Overall, the country's foreign trade surged by 29.2% year-on-year rising to $1.29 trillion in the first quarter due to the global rise in demand. Exports increased by 49% to $709.98 billion, while imports rose by 28% to $593.62 billion.

The country's trade volume had suffered a setback last year in the same period after the government imposed a strict lockdown in January 2020 to stem the COVID-19 spread.

"China's first-quarter foreign trade figure looks rosy, which was partly aided by the low base last year. But even if such factor is excluded, the recovery momentum remains robust," said Tian Yun, the vice director of the Beijing Economic Operation Association. -