| Follow us on:
|
![China's exports in yuan-denominated terms fell 5.6 percent year on year in September, while imports increased 2.2 percent, customs data showed Thursday [Xinhua]](http://thebricspost.com/wp-content/uploads/2015/09/81551c48c1b90b694e0c020bbc351ed0.jpg)
China’s exports in yuan-denominated terms fell 5.6 percent year on year in September, while imports increased 2.2 percent, customs data showed Thursday [Xinhua]
Trade turnover between Russia and China grew in annual terms to $50.27 billion over the first three quarters of 2016, China’s General Administration of Customs said in a report released on Thursday.
Russian exports to China has grown by 7.1 per cent over the same period to $26.98 billion while imports decreased by 6.4 per cent to $23.3 billion.
In 2015, trade turnover between Russia and China fell by 27.8 per cent to $64.2 billion.
China’s foreign trade in the first three quarters was down 1.9 per cent from a year earlier to reach 17.53 trillion yuan ($2.61 trillion), with exports dropping 1.6 per cent and imports falling 2.3 per cent, according to figures from the General Administration of Customs (GAC) released on Thursday.
During the January-September period, foreign trade with the United States, China’s second-biggest trade partner, fell 1.9 per cent, and that with ASEAN, its third-largest trade partner, declined 1.9 per cent.
Earlier on Sunday, China’s Ministry of Commerce (MOC) said a BRICS free trade area would be “a significant form of cooperation” between the five nations.
By setting up a free trade area, BRICS countries would be able to remove tariff and non-tariff barriers, give play to their comparative advantages, and advance trade and investment liberalization between them, MOC spokesperson Shen Danyang said at a press briefing.
TBP and Agencies
