FLASH: China's foreign trade in machinery grows 1.7% YoY in '23

China saw the total foreign trade value of its machinery sector in 2023 ticked up by 1.7% from a year earlier to reach $1.09 trillion, China Machinery Industry Federation (CMIF) compiled the data from the country's General Administration of Customs on January 23.

Within the total, the export value rose 5.8% on year to $783 billion, while imports declined by 7.6% on year to $304.5 billion, according to CMIF. By trade mode, China's machinery sector saw its processing trade value amount to $184.6 billion in 2023, down 5.3% on year. Meanwhile, its general