Chinese economy solid amid turbulence

In fact, the strong performance of China's shipbuilding sector is seen bolstering not only foreign trade but economic growth.

When it comes to certain issues faced by the shipbuilding sector like financing difficulties, the ExportImport Bank of China has provided full support to GSI, covering over 80 percent of the latter's financing. In the past three years, the Export-Import Bank of China has provided GSI a cumulative financing of 19.7 billion yuan, Liu said.

The Export-Import Bank of China, a major policy bank, is dedicated to supporting the country's foreign trade, investment and international economic cooperation. During the first five months of this year, it issued over 730 billion yuan in loans to support the country's foreign trade, up 15.8 percent year-on-year, the bank said.

At the end of May, the bank's outstanding loans to foreign trade firms came in at nearly 3 trillion yuan, up 16.36 percent year-on-year and an increase of 130 billion yuan compared to the beginning of this year. Its Belt and Road outstanding loans topped 2.2 trillion yuan at the end of May.

Looking ahead, the bank said it will continuously ramp up efforts to promote high-standard opening-up and drive high-quality development in foreign trade.

The latest data from the General Administration of Customs showed that China's January-September foreign trade fell 0.2 percent year-on-year to 30.8 trillion yuan.

Exports grew 0.6 percent year-on-year to 17.6 trillion yuan, while imports declined 1.2 percent to 13.2 trillion yuan.

Zhou Maohua, an analyst at China Everbright Bank, said the latest figures showcase the resilience and stability of China's economy amid downward pressures from slowing global demand and a cloudy global outlook.

"The proportion of high-tech exports, especially machinery and electrical products, has steadily increased," Zhou said. "Private enterprises have become a major force in China's exports. And exports to BRI countries and ASEAN markets have witnessed rapid growth … The figures point to the continuous optimization of China's foreign trade structure and the gradual strengthening of new growth drivers."