Briefly

Online shopping festival planned

China will launch an online shopping festival to prop up consumption after its economic growth contracted 6.8 percent year-on-year in the first quarter. The festival, the second of its kind, marks the latest step taken by the world's second-largest economy to expand domestic consumption and blunt the impacts of the novel coronavirus epidemic on its economy, according to a statement on the Ministry of Commerce website. Over 100 e-commerce companies will take part in the festival, selling a great variety of quality goods ranging from agricultural products to electronic devices.

Trade with Russia rises 3.4% in Q1

China's trade with Russia expanded by 3.4 percent year-on-year in the first quarter (Q1) of this year, the Ministry of Commerce said on Thursday. Trade volume between the two countries stood at $25.35 billion in the period, Gao Feng, spokesperson with the ministry, told a news conference. China's imports from Russia increased by 17.3 percent from a year earlier to $16.2 billion, the fastest growth among China's major trading partners.

Xinhua