China's foreign trade up 29.2% in Q1

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BEIJING, April 13 (Xinhua): China's total goods imports and exports surged 29.2 per cent year on year to 8.47 trillion yuan (US$1.29 trillion) in the first quarter of 2021, official data showed on Tuesday.

Exports jumped 38.7 per cent from a year earlier while imports climbed 19.3 per cent in yuan terms, the General Administration of Customs (GAC) said.

GAC spokesperson Li Kuiwen attributed the surge in foreign trade to China's continuous progress in epidemic prevention and control, as well as economic and social development.

The trade surplus expanded 690.6 percent to reach 759.29 billion yuan.

Meanwhile, Reuters reported that China's yuan-denominated exports in the first quarter surged 38.7% from a year earlier, while imports increased 19.3% on year, according to a statement from customs at a press conference on Tuesday.

China's trade surplus in the first three months was 759.29 billion yuan ($115.99 billion).

The customs agency is expected to release dollar-denominated trade figures later in the day.

China's Q1 crude oil imports were at 139 million tonnes, according to a statement by the General Administration of Customs on Tuesday.