China's foreign trade up 5.3% in first three quarters

China's foreign trade grew by 5.3 percent year-on-year to 32.33 trillion yuan ($4.57 trillion) in the first three quarters of 2024, statistics from the General Administration of Customs showed on Monday.

In the meantime, the country's exports surged 6.2 percent on a yearly basis to 18.62 trillion yuan and imports rose 4.1 percent year-on-year to 13.71 trillion yuan.

The country's foreign trade hit a record high in the first three quarters with each quarter exceeding 10 trillion yuan. Its trade value with over 160 countries and regions continued to grow during this period, said Wang Lingjun, the GAC's vice-minister.

Speaking at a news conference in Beijing, Wang said that China's structure of exported products has been optimized and exports of high-tech equipment jumped over 40 percent year-on-year between January and September.

Meanwhile, China's exports of electro-mechanical products rose 8 percent on a yearly basis to 11.03 trillion yuan, accounting for 59.3 percent of its total exports, according to the administration.