According to the website of the Ministry of Commerce, since the beginning of this year, the Ministry of Commerce, together with various localities and departments, has steadily stabilized foreign trade and promoted trade innovation and development. Various foreign trade entities have faced difficulties. China’s foreign trade has shown strong resilience, achieved rapid growth and high-quality trade. The continuous advancement of development has effectively promoted the growth of the national economy, and the service has led to the establishment of a new development pattern.
From January to September, the main operating characteristics of foreign trade are as follows:
First, the scale and share reached a new high. In terms of scale, from January to September, in RMB terms (the same below), the value of imports and exports, exports, and imports were 28.33, 15.55, en 12.78 trillion yuan, respectively, setting a record high for the same period in history. Among them, the monthly import and export in September was 3.53 trillion yuan, a new monthly high. In terms of growth rate, imports and exports, exports, and imports increased by 22.7%, 22.7% en 22.6% respectively year-on-year, all of which were the highest levels in 10 jaar. In terms of share, according to the latest WTO data, China’s international export market share in the first half of the year increased by 0.9 percentage points year-on-year to 14.6%. Chinese products have met the production and life needs of people in all countries and regions.
The second is the continuous optimization of the structure and the improvement of quality and efficiency. Emerging markets have closer trade ties with China. The share of imports and exports increased by 0.7 percentage points from the same period last year to 59.9%. ASEAN remains my largest trading partner. The growth rate of China’s imports and exports to Latin America and Africa was 11.7 en 5 percentage points higher than the overall growth rate respectively. The role of the main force of private enterprises has become more prominent. In the first three quarters, 142,400 new foreign trade operators were registered, of which private entities accounted for 94.5%. The import and export of private enterprises increased by 28.5%, 5.8 percentage points higher than the overall rate, and their proportion increased by 2.2 percentage points to 48.2%. The export of high-tech and high value-added products is strong. The export of mechanical and electrical products increased by 23%, and its proportion increased by 0.2 percentage points to 58.8%, which drove the overall export growth rate by 13.5%. Among them, exports of mobile phones, huishoudelijke apparaten, automobiles, and ships increased by 14.4%, 20.2%, 107% en 37.6% respectively.
The third is the innovative development of business formats and enhancement of platform functions. New momentum for foreign trade development continued to gather. Cross-border e-commerce imports and exports and market procurement exports increased by 20.1% en 37.7% respectively. The number of overseas warehouses exceeded 2,000 and the area exceeded 16 million square meters. About 130 bonded maintenance projects have been completed, covering many fields such as aerospace, shipbuilding, and precision electronics. The functions of various foreign trade agglomeration areas have grown, en 105 foreign trade transformation and upgrading bases have been newly identified this year, becoming an important platform for the organic integration of industry and trade. Identified the first batch of 13 national processing trade industrial parks to promote the central and western and northeastern regions to participate in the international cycle and improve the level of open economy.
The fourth is to strengthen the leading role to support domestic economic growth and global recovery. From a domestic perspective, the rapid growth of foreign trade has strongly promoted the industrial added value of upstream and downstream industries and manufacturing investment, helped stabilize employment, increased residents’ income and consumption recovery, ensured the supply of energy resources and important raw materials, and strongly promoted domestic economic growth. From an international perspective, according to the latest WTO data, China’s international import market share in the first half of the year increased by 0.7 percentage points year-on-year to 12%, contributing 15% of the global import increase. China’s foreign trade has made important contributions to serving the global fight against the epidemic, ensuring the smooth operation of the global industrial chain and supply chain, and driving the recovery of global economic and trade.
Momenteel, there are still many unstable and uncertain factors facing the development of foreign trade. The fluctuating epidemic situation, unsmooth shipping and logistics, rising raw material prices, and tight supply of some intermediate products are still facing greater pressure on the operation and development of foreign trade entities. The Ministry of Commerce will thoroughly implement the spirit of the congratulatory letter from Chairman Xi Jinping to the 130th China Import and Export Fair (Canton Fair) and the requirements of Premier Li Keqiang’s keynote speech, promote the introduction of targeted policies and measures in a timely manner, do a good job in cross-cycle adjustments, and rescue enterprises Solve problems, stabilize reasonable expectations, maintain foreign trade operations within a reasonable range, promote high-quality trade development, and build a new development pattern for services.