Private, collective businesses' trade outpaces SOEs

Private and collectively-owned businesses saw their foreign trade expand faster than that of state-owned enterprises (SOEs) and foreign-funded companies in the January and November period, according to the national economic planner.

In the first 11 months, foreign trade at private and collectively-owned companies totaled 1.09 trillion U.S. dollars, up 18.1 percent year on year, according to data released by the National Development and Reform Commission on Thursday.

The total figure included 687.32 billion U.s. dollars in exports, up19.4 percent, and 402.75 billion U.S. dollars in imports, up 15.9 percent, the data showed.

In contrast, foreign-funded firms saw foreign trade rise 1.9 percent year on year to reach 1.72 trillion U.S. dollars between January and November.

Meanwhile, trade for SOEs dropped 1.1 percent from a year earlier to 685.9 billion U.S. dollars in the first 11 months, as exports declined 4 percent in the period while imports posted a slight increase of 0.9 percent, the data showed.

The General Administration of Customs previously released disappointing trade data for November due to slackened external demand. China's exports grew just 2.9 percent year on year in November, while the growth of imports remained unchanged from a year earlier.