China's ports saw a significant 6.4 percent in capacity in August compared to the records from last year, the National Development and Reform Commission (NDRC). The numbers increased even as China's trade dispute with the U.S. has yet to end.
According to Xinhua, the NDRC said Chinese ports welcomed 1.199 billion tons of cargoes, with foreign trade products accounting for 379 million tons of the overall cargo count. The capacity rate in China's ports for the first eight months of 2019 also hiked by 5.1 percent.
Also, from January to August, container handling capacity increased by five percent, reaching 172.39 million TEUs (20-foot equivalent units) despite global trade disputes and the direct trade tensions with the U.S.
Last week, the Chinese Ministry announced that it will step up efforts in protecting foreign trade, including non-Chinese companies and businesses established in the country in efforts to open up the world's second-largest economy to the world.
The ministry said it will continue to work towards stabilizing foreign trade despite ongoing tensions with the White House. The ministry added that it will continue to welcome foreign trade to help improve the domestic and international economy.
Minister of Commerce, Zhong Shan, said that the ministry will implement policies that aim to stabilize foreign trade, Hellenic Shipping News reported. Zhong added that the government will keep encouraging foreign investors and firms to explore China's emerging markets to keep the growing momentum of foreign cooperation.
Vice-Minister of Commerce, Wang Shouwen, echoed Zhong's comments, stating that China "truly supports" investments from foreign brands and enterprises since these groups have largely helped in molding the country's economic development over the past years.
Analysts noted that compared to the attitude of China towards foreign trade in the past, the current atmosphere has changed for the better. The country has eased key restrictions to help facilitate foreign transactions.
News of China's improvements in its trade and port capacity comes as economists and market analysts watch developments in the trade talks between China and the U.S.
The two sides are scheduled for another round of trade negotiations in Washington next week. According to the South China Morning Post, some analysts believe the impeachment probe against U.S. President Donald Trump could play a role in the highly-anticipated talks.
While no hints have been dropped from both sides regarding the possibility of making concessions to ink an official deal, China has been urging for a positive and "calm" approach to the 13th round of high-level talks.
Some analysts indicated that the impeachment inquiry against Trump will play a key role in the agenda for the October 10 meeting, as well as the increasing anxiousness about a global recession.
