Zhengzhou: China's total goods imports and exports in yuan-denominated terms increased 3.5 percent year on year in August, marking the third consecutive month that both exports and imports achieved simultaneous growth, official data showed Monday.

According to Namibia Press Agency, during the January-August period, China's goods trade also expanded 3.5 percent year on year, as reported by the General Administration of Customs (GAC). Exports led the overall expansion during this period, surging 6.9 percent year on year, while imports registered a slight decrease of 1.2 percent.

In U.S. dollar terms, the country's exports and imports of goods amounted to 321.81 billion U.S. dollars and 219.48 billion U.S. dollars, respectively, in August. For the first eight months, the figures were 2.452 trillion U.S. dollars and 1.666 trillion U.S. dollars. ASEAN remained China's largest trading partner during this period, with total bilateral trade surging 9.7 percent to 4.93 trillion yuan, accounting for 16.7 percent of the country's total foreign trade, followed by the European Union, with trade rising 4.3 percent.

China has maintained its status as ASEAN's largest trading partner for 16 consecutive years, while ASEAN has been China's top trading partner for five consecutive years. Data also highlighted a 5.4 percent increase in trade with Belt and Road countries to 15.3 trillion yuan, while trade with the United States, China's third-largest trading partner, fell 13.5 percent in the first eight months of this year.

Private enterprises played a significant role as the main driver of trade, with their import and export values growing 7.4 percent to 16.89 trillion yuan, accounting for 57.1 percent of the nation's total, 2.1 percentage points higher than the same period last year. China's foreign trade continued to undergo a structural shift as exports of mechanical and electrical (M and E) products grew 9.2 percent, accounting for 60.2 percent of total exports, driven by strong growth in integrated circuits and automobiles, while labor-intensive products saw a 1.5 percent decline.

China's exports of complete vehicles are expected to hit the 7 million unit mark in 2025, with commercial vehicle exports set to surpass 1 million units for the first time and new energy vehicle exports poised for steady growth, according to a forecast by the China Chamber of Commerce for Import and Export of Machinery and Electronic Products (CCCME) in early September. Complete vehicles and auto parts collectively remain the largest category of M and E exports, accounting for 10 percent of the total M and E export value, according to the CCCME.

The trade performance occurred amid significant uncertainties in global economic and trade development, with multiple international organizations noting that tariff barriers have substantially increased global trade costs. China's commerce ministry has pledged to expand high-standard opening up, as the world's largest goods trader addresses uncertainties with high-quality development.

Lyu Daliang, director of the GAC's Department of Statistics and Analysis, stated that China's goods trade has maintained its stable growth trajectory despite facing a severe and complex external environment. He added that monthly exports have now grown for six consecutive months as enterprises continuously adapt to international demand with high-quality supply, while the recovery in domestic production and consumption has driven a month-on-month improvement in the cumulative import growth rate.