The Ministry of Commerce said that trade is stabilizing. Trade volume for the past ten months hit almost 20-trillion yuan, representing a 1.9 percent drop compared to last year.

The Ministry of Commerce said that trade is stabilizing. Trade volume for the past ten months hit almost 20-trillion yuan, representing a 1.9 percent drop compared to last year. New industries are taking the place of traditional processing industries, becoming major players over the past three quarters.

The trade volume from cross-border e-commerce platforms in Hangzhou alone — where Alibaba is based — is more than doubled compared with last year. With the US, bilateral trade has fallen slightly. While small growths are recorded with the EU and Japan.

And growth has continued with Belt and Road countries. We are seeing double-digit growth rates in several countries on the route including an almost 15 percent growth with Pakistan. The report also predicts a warming fourth quarter, as a new year usually drives up demand.