China's foreign trade up 4.9% in the first 11 months

China's foreign trade of goods increased by 4.9 percent year-on-year to reach 39.79 trillion yuan ($5.49 trillion) in the first 11 months this year, demonstrating stable growth and economic structural improvements, official data showed on Tuesday.

According to the General Administration of Customs (GAC), exports rose 6.7 percent year-on-yar to reach 23.04 trillion yuan, while imports edged up 2.4 percent year-on-year to reach 16.75 trillion yuan in the first 11 months.

Thanks to the government's package of pro-growth policies, the country's foreign trade volume registered a 1.2-percent increase year-on-year in November alone in yuan-denominated terms, totaling 3.75 trillion yuan, with monthly foreign trade volume maintaining growth in a consecutive of eight months, according to the GAC.

In the first 11 months, foreign trade handled by private enterprises accounted for 55.3 percent of the country's total trade, representing a 2-percentage-point increase from the same period last year, GAC data showed.

Throughout the period, ASEAN held its position as China's largest trading partner, with bilateral trade reaching 6.29 trillion yuan in the first 11 months, up 8.6 percent from a year earlier, representing 15.8 percent of the country's total foreign trade. It was followed by the EU with bilateral trade reaching 5.09 trillion yuan and the US at 4.44 trillion yuan.

China's trade with countries and regions participating in the Belt and Road Initiative totaled 18.74 trillion yuan, an increase of 6 percent year-on-year.

Recently, a State Council executive meeting reviewed and approved new policy measures to drive the steady growth of foreign trade. The Ministry of Commerce and the GAC also announced measures to optimize the business environment at its ports and streamline customs clearance process for foreign trade companies. 

Thanks to exiting supportive policies and incremental stimulus policies to ramp up economic growth, China's annual foreign trade goals of stable growth and structural improvement are on track to be met, the Xinhua News Agency reported on Tuesday.