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China's foreign trade expanded 4.6 percent year on year in October, with exports jumping 7.6 percent year on year and imports climbing 0.9 percent in yuan terms, China's General Administration of Customs (GAC) said in a statement.
China's decision to ease market access for foreign companies and expand imports will not only provide a boost to foreign businesses but also benefit domestic companies through competitive pressure, according to a senior US researcher of the Chinese economy.
China's highly specialized industrial clusters and very good infrastructure are an essential part of the global supply chains that have increased world productivity over the last few decades. This type of globalization has been a boon to the world.
China's outbound investment, starting later than other countries, still lacks experience and faces some challenges, Zhong said. But the challenges are "difficulties in the process of progress", he said.
China's civil aviation regulator on Monday issued its third "circuit-breaker" suspension of an international passenger flight since it set up a mechanism to contain the number of imported COVID-19 cases.