China'S Export Value And Import And Export Value In July Hit A New High Since The Financial Crisis.

Data released by the General Administration of Customs on 10 may show that in July this year, China's export value and total value of imports and exports hit a new high since the financial crisis. It is the best record since July 2008. Experts believe that the recovery of China's exports stems from the comparative advantage of "made in China" and the improvement of the international market.

"This year, China's import and export trade will achieve a resumption of growth, and the growth of foreign trade will show a trend of" before and after high. "

Zhao Jinping, deputy director of the Ministry of foreign economic development of the State Council Development Research Center, said.

He believes that although the global economic recovery is slow, the demand for international market is still in the recovery trend, which is the basis for China's foreign trade to achieve a resumption of growth.

According to customs statistics, in July this year, China's import and export value reached 262 billion 310 million.

"Because of the high unemployment rate in Europe and the United States, declining incomes, tight credit and reduced disposable income, consumers in Europe and the United States have become more dependent on Chinese products."

Zhao Yumin said.

According to customs statistics, in the first 7 months of this year, China's mechanical and electrical products exported 500 billion 690 million US dollars, an increase of 36.2%, higher than the total export growth rate of 0.6 percentage points in the same period, accounting for 58.9% of the total export value of China in the same period.

In addition, in the first 7 months of this year, exports of traditional commodities, including clothing, furniture, footwear, plastic products, bags and textile yarns, fabrics and articles, increased faster.

Zhao Yumin believes that since July 15th, China has abolished export tax rebates for some products such as steel and other products. In addition, enterprises expect that the export tax rebates will be further lowered, involving a wider range of products, and therefore, the export of exports will be an important reason for the rapid growth of exports in July.

The full year trade surplus is expected to be unchanged from last year.

According to customs data, China's trade balance reached US $28 billion 730 million in July, an increase of US $8 billion 710 million over June.

Zhao Jinping said that due to the tightening of macro-control and the adjustment of real estate, China's import demand growth is weak, and imports are expected to fall faster in the second half of the year.

The rate of import decline is faster than the rate of export fall, making China's monthly trade surplus widening.

Customs data show that import growth in July this year dropped 62.8 percentage points from January, down 11.4 percentage points from June, while July exports increased by 17.1 percentage points over January, 5.8 percentage points lower than June.

In addition, experts also said that the huge trade surplus to a large extent came from the processing trade of foreign-funded enterprises.

According to customs statistics, in the first 7 months of this year, China's processing trade imports and exports amounted to US $629 billion 530 million, an increase of 36.1%.

Of which, exports of US $398 billion 410 million, an increase of 32.4%, and imports of US $231 billion 120 million, an increase of 43.2%.

In July, China's processing trade generated a trade surplus of nearly US $30 billion.

Over the same period, China's trade deficit under general trade amounted to US $31 billion 870 million.

"The brand accumulation and value chain sharing of China's export products are at the low end and unfavorable position, so far there has not been much change.

How many profits do we get from the trade surplus? How many trade surpluses have been given to China through the production layout and processing trade in China? These are all issues of concern.

Tan Yaling, Dean of China Foreign Exchange Investment Research Institute.

Zhao Jinping predicted that China's trade surplus will be flat or slightly reduced in 2010.

Be alert to external uncertainties

Zhao Jinping said that China's trade growth in Brazil, ASEAN and other emerging markets is higher than the average level of China's trade growth. China's foreign trade regional diversification strategy has achieved certain results, which is also an important factor for the steady growth of foreign trade this year.

Customs data show that in the first 7 months of this year, bilateral trade between China and ASEAN amounted to US $161 billion, an increase of 49.6%.

Among them, exports to ASEAN amounted to 76 billion 740 million US dollars, an increase of 43.2%; and imports from ASEAN amounted to US $84 billion 260 million, an increase of 56.1%.

It is noteworthy that Brazil has replaced Russia as our tenth largest trading partner.

In the first 7 months, bilateral trade between China and Brazil amounted to US $32 billion 510 million, an increase of 54.6%.

Customs data show that in the first 7 months of this year, the total value of China's imports and exports reached US $1 trillion and 617 billion 50 million, an increase of 40.9% over the same period last year.

Of which, exports of US $850 billion 490 million, an increase of 35.6%, and imports of US $766 billion 560 million, an increase of 47.2%.

Zhang Yansheng, director of the Foreign Economic Research Institute of the national development and Reform Commission, believes that the unfavorable factors that affect China's foreign trade export still exist.

Under the situation of rapid export growth in China, the risk of trade friction is increasing. Besides, the impact of the European debt crisis on China's exports has not yet appeared.

Therefore, "we should not be too optimistic". Foreign trade enterprises should "practise internal strength" in the context of the resumption of foreign trade growth this year.

Zhang Yansheng said that in the long run, "the worse the external economic environment, the more competitive the Chinese products" will be.

On the one hand, due to the increased cost of labor, resources and environment, Chinese exporters are faced with the pressure to raise the prices of export products. China's products are beautiful, but they may not be cheap anymore; on the other hand, the products from India, Bangladesh and Vietnam are increasing, and China is facing more intense competition for similar products.

"For example, India, whose young people aged between 400 million and 15 and 34 are not involved in the global division of labor, will face challenges if China joins the global industrial chain."

Zhang Yansheng said: "China's exports will face major structural adjustment in 5 to 10 years."