China's imports and exports reached 165.8 billion US dollars and 194.9 billion US dollars, respectively, in 1999, both all-time highs.

According to the latest statistics, the country's import and export volumes increased 18.2 percent and 6.1 percent, respectively, on a yearly basis, despite the influence of the Asian financial crisis.

China's total foreign trade volume hit 360.7 billion US dollars in 1999, an 11.3 percent growth over 1998.

China had a favorable balance of trade of 29.1 billion US dollars last year.

According to a source from the General Administration of Customs, the country's foreign trade declined in the first half of last year, but picked up momentum in the second half thanks of the implementation of a series of preferential policies and the general recovery of the Asian economy.

From July to December 1999, China's exports increased by 15.8 percent to 112.1 billion US dollars.