Jun. 14, 2012 (China Knowledge) – China saw its import and export value in May increased 14.1% than a year earlier to US$343.58 billion including a record high of US$181.14 billion in export value, up 15.3% YoY or 10.9% MoM, according to the statistic released by China's General Administration of Customs.

Last month, China's export to U.S., ASEAN and Russia grew 23%, 28.3% and 18.9%, respectively.

From external environment, the overseas market demand is already in the recovery and tending towards stability, said Huo Jianguo, president of Chinese Academy of International Trade and Economic Cooperation.

From January to May 2012, the country's export value amounted to US$774.4 billion, 8.7% more than it realized in the corresponding period of 2011.

During the five month period, China saw its export to U.S., ASEAN and Russia increased 14.4%, 14.8% and 15.3%, respectively, and generate a combined 4.1 percentage overall growth in export value.