Aerial photo taken on Dec 17, 2020 shows a panoramic view of the headquarters building of BRICS New Development Bank in East China's Shanghai. (FANG ZHE / XINHUA)
BEIJING – Trade between China and other BRICS countries recorded a 12.1 percent year-on-year rise to reach 1.31 trillion yuan (about $195.96 billion) in the first five months of this year, customs data showed Tuesday.
The rate is 3.8 percentage points faster than China's overall foreign trade growth in the same period, according to the General Administration of Customs.
Mechanical and electronic products, as well as labor-intensive goods, accounted for 69.7 percent of China's exports to other BRICS countries in terms of value in the five months
BRICS is the acronym for an emerging-market group that includes Brazil, Russia, India, China and South Africa. From January to May, China's exports to the other four BRICS members went up 18.1 percent year-on-year, while imports from them gained 6.6 percent, GAC data revealed.
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Mechanical and electronic products, as well as labor-intensive goods, accounted for 69.7 percent of China's exports to other BRICS countries in terms of value in the five months, while 76.3 percent of China's imports from them were energy and agricultural products, as well as metal ore.
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Trade between China and other BRICS countries is highly complementary and is expected to sustain growth as economic and trade cooperation among BRICS countries sees solid progress.