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 import and export volume was 25.63 trillion yuan, up 2.4%. 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%. From an international comparison, according to the latest WTO data, in the first eight months, my import and export growth rate was higher than the average growth rate of major economies in the world.
The structure has been continuously optimized. The layout of the international market was optimized, with the import and export of countries along the “the belt and road initiative” rising by 9.4%, accounting for a 4.1% to 29.1% increase over 2013. The domestic regional layout was optimized, with exports from the central and western regions increasing by 13.8%, 8.9 percentage points higher than the overall export, accounting for an increase of 1.4 percentage points to 18.1% over the same period last year. The structure of commodities has been continuously optimized, with exports of mechanical and electrical products accounting for 58.3%. Among them, exports of high-quality, high-tech and high-value-added products such as integrated circuits, photovoltaic, excavators and medical devices have maintained rapid growth. Exports of seven categories of labor-intensive products increased by 6.1%. Among them, toys, textiles and footwear increased by 32.2%, 5.5% and 5.4% respectively. Business entities continued to optimize, with exports from private enterprises increasing by 12.8%, accounting for 3.6 percentage points to 51.3%, boosting exports by 6.2 percentage points. The trade structure was further optimized, with general trade exports increasing by 8.5%, accounting for an increase of 1.9 percentage points to 58.2% over the same period last year, contributing 97.6% to the growth of exports.
The power conversion has accelerated. In-depth cultivation of new trade formats and new models, solid promotion of cross-border e-commerce comprehensive test area and market procurement trade pilot construction, the introduction of improved tax and other areas of relevant support policies, cross-border e-commerce and market procurement and other new trade formats and new models are booming, with a growth rate higher than the national average. We will accelerate the export of second-hand cars, further simplify the workflow of vehicle transfer in different places, license application, customs clearance, etc., and create a convenient environment for the export of second-hand cars. Vigorously Promote Bonded Maintenance Projects in Processing Trade and Try First.
At present, the new round of reform and opening-up has injected new vitality into the development of foreign trade. The second China International Import Expo was successfully held, with further progress in streamlining administration and delegating power. Policy dividends have been gradually released, the business environment has been continuously improved, and the sense of corporate policy has been enhanced. According to the World Bank’s Business Environment Report 2020, China’s state-owned business environment ranks 15th to 31st. The questionnaire survey shows that more than 70% of enterprises are generally satisfied with the implementation of the foreign trade stabilization policy. In the next step, we will take Xi Jinping’s new era of socialism with Chinese characteristics as a guide, adhere to the general tone of seeking progress while maintaining stability, make greater efforts to stabilize expectations, stabilize confidence, stabilize enterprises, and promote high-quality trade development.
Original Artical，Author：China Trade Agent，if repost，please give references ：https://offers-bg.com/talk-about-chinas-foreign-trade/