China’s foreign trade has grown rapidly in the last 40 years.
According to data from China’s National Bureau of Statistics (NBS), the country’s total value of import and export of goods grew by an annual average of 18.6 percent from 1978 to 2017 to reach 27.8 trillion yuan (about four trillion U.S. dollars), accounting for 11.5 percent of the world’s total.
In the same period, Chinese exports grew to 15.3 trillion yuan from just 16.8 billion yuan, up on average 19.1 percent year-on-year. Meanwhile, imports to China were valued at 12.5 trillion yuan last year.
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Importing from China 