China’s business operations achieves stable progress in 2022

Beijing, The Gulf Observer: China’s business operations achieved stable progress in 2022, according to the Ministry of Commerce (MOFCOM) on Thursday.

China’s retail sales reached 44 trillion yuan ($6.56 trillion) in 2022, with the sales volume of new energy vehicles seeing a 93.4 percent year-on-year increase, reflecting upgraded consumer demand, MOFCOM noted.

In the same year, the country’s foreign trade hit a record high, with imports and exports of goods totaling 42.1 trillion yuan, a 7.7 percent increase from the previous year.

Meanwhile, the actual use of foreign direct investment (FDI) reached 1.2 trillion yuan, expanding 6.3 percent year on year.

China’s non-financial outbound direct investment (ODI) rose 7.2 percent to 785.9 billion yuan, according to MOFCOM.