Ministry of Commerce: China’s Total Foreign Trade Share in International Market Increases 10 Times in 40 Years

China’s foreign trade share in the international market increased from less than 1% to 11.8% Zhong Shan said that taking the opportunity of joining the World Trade Organization in 2001, China’s foreign trade has achieved great-leap-forward development and its trade structure has been continuously optimized, making important contributions to China’s economic and social development.

Ministry of Commerce: China's Total Foreign Trade Share in International Market Increases 10 Times in 40 Years
Ministry of Commerce: China’s Total Foreign Trade Share in International Market Increases 10 Times in 40 Years

The Foreign Trade Report shows that China’s total import and export of goods increased from US$ 20.64 billion in 1978 to US$ 4.62 trillion in 2018, becoming the world’s largest country in goods trade, increasing its share of the international market from less than 1% to 11.8%. Among them, exports increased from US$ 9.75 billion to US$ 2.48 trillion and imports increased from US$ 10.89 billion to US$ 2.14 trillion.

The total import and export volume accounts for the first and second shares respectively in the world. Since 2009, China has been the world’s largest exporter of goods and the second largest importer of goods for 10 consecutive years. China’s total service import and export rose from US$ 4.69 billion in 1982 to US$ 791.9 billion in 2018. Since 2014, China has been the world’s second largest service importer and exporter for six consecutive years.

Not only is the total amount of trade expanding, but the trade structure is also constantly being optimized.

Zhong Shan pointed out that exports to emerging markets increased by 10.2% in 2018, accounting for an increase of 3.1 percentage points to 46.3% over 2012. Regionally, exports from the central and western regions increased by 17% in 2018, an increase of 8.4 percentage points higher than that in the eastern region.

Private enterprises continue to maintain their leading export position.

In terms of commodity structure, Zhong Shan said that the export proportion of high-tech products represented by electronics and information technology is continuously expanding. Independent intellectual property products with high technological content and added value, such as automobiles, ships, railway locomotives and airplanes, are gradually becoming new growth points. Large complete sets of equipment, such as power and communications, have increasingly obvious competitive advantages in the world.

The Special Report mentioned that the export of mechanical and electrical products in 2018 was US$ 1.46 trillion, up 10.6%, accounting for an increase of 1.1 percentage points to 58.7% over2012. Among them, the export of integrated circuits, automobiles, mobile phones and other products increased 26.6%, 11.3% and 11.5% respectively.

In addition, in terms of business entities, private enterprises continue to maintain their position as the largest exporter, with export growth of 13.2% in 2018, with state-owned enterprises accounting for 10.3% and foreign-funded enterprises accounting for 41.7%.

“Foreign trade, as an important component of the national economy, is one of the” troika “to stimulate the growth of the national economy. It has vigorously promoted the construction of an open economy and the coordinated development of the national economy, and has driven and expanded employment.” Zhong Shan stressed.

According to estimates, the Foreign Trade Report shows that foreign trade directly and indirectly drives about 180 million people in employment, accounting for more than 20% of the country’s total employment. In addition, the development of foreign trade has driven the import tax, increased the national fiscal revenue, improved the balance of payments and increased foreign exchange reserves. The development of foreign trade has also driven Chinese enterprises to actively participate in the international division of labor, constantly learn and master advanced technologies, standards and production management methods, and promoted industrial upgrading.

 

Original Artical,Author:China Trade Agent,if repost,please give references :https://offers-bg.com/increases-10-times-in-40-years/

Like (1)
Previous November 9, 2019 9:06 pm
Next November 9, 2019 9:11 pm

Relevant Recommendation

  • With the aid of the Expo, Ningbo will continue to give full play to its advantages in foreign trade

    On the afternoon of the 7th, the Ningbo-the belt and road initiative Trade Docking Conference and the Signing Ceremony for Major Procurement Projects were held in Shanghai. A batch of advanced manufacturing equipment and other procurement agreements were signed on site. It is understood that the signing ceremony for procurement projects included a total of 26 projects from 11 countries and regions including Germany, Poland, Sri Lanka, the United States, Japan, South Korea and Singapore. Ningbo is a major foreign trade city. In the first three quarters of this year, the total import and export volume of Ningbo reached 681.01 billion yuan, up 6.8%. Among them, the export value was 444.12 billion yuan and the import value was 236.89 billion yuan, up 8.2% and 4.3% respectively, with the national share rising to 3.56% and 2.27% respectively. Cross-border e-commerce transactions continued to lead the country. In the first three quarters, the amount of cross-border e-commerce imports and check-and-release orders reached 13.5 billion yuan and 74.9 million votes respectively, up 38.7% and 27.1%, ranking first in the country.Due to its advantages in…

    November 9, 2019
    1.1K0
  • Director of Foreign Trade Department of Ministry of Commerce Talk about China’s Foreign Trade from January to October 2019

    On November 12, the head of the Foreign Trade Department of the Ministry of Commerce introduced China’s foreign trade from January to October 2019. The Party Central Committee and the State Council attach great importance to foreign trade. On October 23, Premier Li Keqiang presided over an executive meeting of the State Council to deploy efforts to further stabilize foreign trade and promote quality improvement in import and export. Faced with the complicated and severe foreign trade development environment, the Ministry of Commerce resolutely implements the decision-making arrangements of the Party Central Committee and the State Council, does a solid job of “stabilizing foreign trade”, vigorously promotes the “five optimizations” of international market layout, domestic regional layout, commodity structure, business entities and trade methods, continuously promotes the “three constructions” of foreign trade transformation and upgrading base, international marketing network and trade promotion platform, actively promotes the high-quality development of trade, achieves positive results in various work, and improves quality in the steady development of foreign trade from January to October. The scale remained stable. From January to October, China’s total…

    November 12, 2019
    1.1K0
  • China’s Foreign Trade Developed Steady in the First 10 Months

    According to customs statistics, in the first 10 months of this year, the total value of China’s import and export of goods was trillion yuan, up from the same period last year, continuing the steady development trend. Among them, the export was trillion yuan, up; Imports dropped by 1 trillion yuan. The trade surplus is trillion yuan, expanding. In October, China’s total import and export value was 1 trillion yuan. Among them, the export was trillion yuan, up; Imports dropped by 1 trillion yuan. Li Kuiwen, Director of the Statistics and Analysis Department of the General Administration of Customs, said that the growth of international economy and trade has slowed down since this year, but China’s domestic economy has been running smoothly and the toughness of foreign trade import and export has increased. The import and export in a single month has remained at a high level of over 1 trillion yuan for four consecutive months. In the first 10 months, China’s general trade increased and its proportion increased. General trade imports and exports totaled 1 trillion yuan, an increase…

    November 9, 2019
    1.1K0
  • Hangzhou Cross-border E-commerce Comprehensive Test Zone Launches “New Foreign Trade, New Service and New Manufacturing” Plan

    In March 2018, the “New Foreign Trade, New Service and New Manufacturing” Plan of Hangzhou Cross-border E-commerce Comprehensive Pilot Zone was officially launched. It is reported that the comprehensive test area will promote 10,000 enterprises to speed up digital transformation and intelligent development in cross-border electronic commerce in 18 years, cultivate 300 new foreign trade new service and new manufacturing benchmark enterprises, nearly 100 major sellers with annual cross-border e-commerce sales of more than 10 million US dollars, and more than 50 new cross-border e-commerce brands. Peng jiaqi, vice president of Amazon’s global store, said: “we are more confident to do more activities with the comprehensive test area to promote the development of cross-border inHangzhou, so that Amazon can be used as a platform to help Hangzhou enterprises establish international brands in the world.” Yu Yong, vice president of Alibaba Group, said: “We have gained a lot in the cooperation process between Ali and the comprehensive test area. We also hope to do more exploration for the entire infrastructure of cloud credit, cloud payment and cloud logistics for the future…

    November 12, 2019
    1.7K0
  • Foreign trade formats and market structure were continuously optimized: the import and export in the first three quarters was 185.94 billion RMB

    Recently, the reporter learned from Nantong Customs that in the first three quarters, our city’s total foreign trade import and export value was 185.94 billion yuan, ranking fourth in Jiangsu Province, accounting for 5.8% of the province’s total import and export value. Among them, exports totaled 125.38 billion yuan, up 1.5%. Behind the data, there is a feature of continuous optimization of foreign trade formats and market structure. Data show that in the first three months, the general trade toughness with relatively higher added value and more self-development ability was further revealed, with imports and exports reaching 133.3 billion yuan, accounting for 71.7% of the total value of imports and exports. Emerging trade formats such as market procurement and cross-border e-commerce continued to grow steadily. Judging from the market structure, the process of diversification of trading partners continues to advance. The biggest bright spot is the obvious growth trend towards ASEAN and the countries along the “the belt and road initiative”, with import and export of 25.53 billion yuan and 59.14 billion yuan respectively, up 5.6% and 7.3% respectively, both…

    November 9, 2019
    1.1K0
  • General Administration of Customs: China’s Foreign Trade Import and Export Increase by 2.4% in the First October

    On November 8, the General Administration of Customs released the latest import and export trade statistics on its website. Statistics show that in the first 10 months of this year, China’s total import and export value of goods was 25.63 trillion yuan, up 2.4% from the same period last year. Among them, exports reached 13.99 trillion yuan, up 4.9%. Imports were 11.64 trillion yuan, down 0.4%. The trade surplus was 2.35 trillion yuan, up 42.3%. In October, China’s total import and export value was 2.71 trillion yuan, down 0.5%. Among them, exports reached 1.51 trillion yuan, up 2.1%. Imports were 1.2 trillion yuan, down 3.5%. The trade surplus was 301.28 billion yuan, up 33%. In dollar terms, in the first 10 months, China’s total import and export value was 3.74 trillion US dollars, down 2.5%. Of this total, exports reached US$ 2.04 trillion, down 0.2%. Imports reached US$ 1.7 trillion, down 5.1%. The trade surplus was 340.29 billion US dollars, up 34.9%. In October, China’s total import and export value was 383.05 billion US dollars, down 3.4%. Of this, exports…

    November 9, 2019
    1.1K0
  • Nantong Rugao Economy: Rugao City Realizes Foreign Trade Import and Export 18.29 Billion Yuan from January to September

    Rugao city achieved 18.29 billion yuan in foreign trade import and export from January to September. From January to September, Rugao realized foreign trade import and export of 18.29 billion yuan, an increase of 1.9% over the same period last year, accounting for 9.8% of Nantong’s total import and export value. Among them, exports reached 15.16 billion yuan, up 3.6%, accounting for 12.1% of Nantong’s total export value. The export scale ranked among the top three in Nantong’s counties and cities. From January to September, the city’s import and export by general trade was 13.14 billion yuan, down 3.3%, accounting for 71.9% of Rugao’s total import and export value in the same period. Among them, the general trade export was 11.48 billion yuan, the same as last year. Imports and exports through processing trade totaled 4.24 billion yuan, up 7.7%. During the same period, the import and export trade volume of bonded warehouses reached 890 million yuan, up 1.3 times. Imports and exports to the EU and Japan reached 4.56 billion yuan and 2.18 billion yuan respectively, up 23.2% and…

    November 9, 2019
    1.1K0
  • The State Council Standing Committee Deploys Four Measures

    Xinhua News Agency, Beijing, October 23 (Reporter Yu Jiaxin)-The executive meeting of the State Council held on the 23rd made arrangements for further stabilizing foreign trade and proposed four measures to promote stable import and export while improving quality. The meeting pointed out that since the beginning of this year, all localities and relevant departments have actively responded to changes in the external environment, have done a solid job in stabilizing foreign trade, and the overall operation of foreign trade has been stable. Customs data show that in the first three quarters of this year, China’s total foreign trade import and export value was 22.91 trillion yuan, an increase of 2.8% over the same period last year, continuing the overall steady development trend of improving quality while maintaining stability, and showing strong resilience in the face of domestic and foreign challenges.China attaches great importance to stabilizing foreign trade. Since last year, the measures to stabilize foreign trade have achieved good results. The executive meeting of the State Council in July this year clearly defined measures to further stabilize foreign trade,…

    November 9, 2019
    1.2K0
  • In the first three quarters of 2019, Chaozhou realized foreign trade import and export of 16.17 billion yuan, up 7% year on year

    Today, the reporter learned from Chaozhou Customs that in the first three quarters of 2019, the import and export of Chaozhou City was 16.17 billion yuan, up 7% from the same period last year (the same below), and the growth rate was higher than that of the whole country and Guangdong Province in the same period. Of this, 13.64 billion yuan was exported and 2.53 billion yuan was imported. “Chaozhou will mainly import and export in the first three quarters of 2019 through general trade.” Hao Feng, chief of Chaozhou Customs Statistics Department, said that in the first three quarters of 2019, Chaozhou enterprises imported and exported 14.82 billion yuan in general trade, up 9.2%, accounting for 91.7% of the total import and export value of Chaozhou in the same period (the same below), up 1.9 percentage points from the same period last year. At the same time, the foreign trade performance of private enterprises is even more outstanding. In the first three quarters, the import and export of private enterprises in Chaozhou was 12.96 billion yuan, up 10.4%, accounting…

    November 9, 2019
    1.1K0
  • Attention please! Since November, there are new rules on the weight appraisal policy for imported bulk commodities

    From Shantou Customs, according to the announcement of the General Administration of Customs, starting from November 1, the customs will adjust the import of bulk commodities from batch-by-batch weight identification to enterprise application. The consignee or agent of imported bulk commodities shall truthfully declare the weight to the customs, which shall conduct spot checks and verification of the declaration. Guangdong Yuedian Jinghai Power Generation Co., Ltd. Imported Coal to Port for Unloading According to relevant officials of Shantou Customs, bulk commodities mainly include three categories, namely energy commodities, basic raw materials and agricultural and sideline products, such as crude oil, non-ferrous metals, soybeans, iron ore, coal, etc. The optimization of the supervision method for bulk commodity weight appraisal is an important measure taken by the General Administration of Customs to thoroughly implement the reform requirements of the State Council on “releasing management services”, further optimize the business environment at ports and improve the level of trade facilitation. Shantou Customs reminds foreign trade enterprises in the customs area (including Shantou, Chaozhou, Jieyang, Shanwei and Meizhou) that since the date of the…

    November 9, 2019
    1.3K0