China now world’s biggest trader with $4.6 trillion in 2020

China has now become the world’s second largest consumer market and its largest trading country, the minister of commerce told a news conference in Beijing minister Wang Wentao said China saw its retail sales increase from almost 21 (20.6) trillion yuan in 2012 to 39 (39.2) trillion yuan in 2020, making the country the world’s second largest consumer market after the United States. Foreign trade was another driving force in China’s growth last year, Wang said, reporting it reached 4.6 trillion US dollars in 2020. He said trade accounted for 28 percent of China’s GDP growth and a record high of 14.7 percent of global trade. _________________ Powered by Shanghai Media Group, ShanghaiEye focuses on producing top-quality content for Facebook, Twitter, Instagram and Youtube. Nobody knows Shanghai better than us. Please subscribe to us ☻☻☻ __________________ For more stories, please click ■ What’s up today in Shanghai, the most updated ne