Wang Yang Investigates Foreign Trade Work In Liaoning

Provinces with a larger decline in foreign trade need to use their brains to find gaps, formulate policies, strengthen policy support and service guarantee, create a relaxed development environment for enterprises, turn challenges into opportunities, and enhance the internal driving force for the steady development of foreign trade.

Wang Yang, vice premier of the State Council, investigated foreign trade in Liaoning in from April 8th to 9th.

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He stressed that foreign trade work is related to the overall situation of national economic development. We must fully understand the seriousness and complexity of the current import and export situation, strengthen our confidence and face difficulties, firmly grasp the general keynote of the steady progress and give full play to the "two hands" role of the market and the government, so as to control it as soon as possible.

The downward trend should be prevented from slowing down to continuous stall, vigorously optimizing the structure of imports and exports, accelerating the cultivation of new competitive advantages, and laying a solid foundation for the long-term development of foreign trade.

And participate in the investigation of personnel into 7 groups, in-depth shipbuilding, machinery, electronics, petrochemical, textile, plastic, food, pharmaceutical and other enterprises, on-site fill in the questionnaire, face to face listen to enterprise demands, to "anatomize sparrows" way, a detailed understanding of enterprise export orders, production and operation, implementation of the policy and other aspects of the situation and problems; and held a forum to listen to Liaoning, Shenyang, Dalian relevant opinions and suggestions.

Wang Yang pointed out that the downward pressure on foreign trade is the result of a combination of various factors, such as external demand and rising costs. It also has a certain relationship with the implementation of policy measures.

We must resolutely implement the decisions and arrangements of the Party Central Committee and the State Council, carry out the implementation at the first level and the first level, and shoulder the responsibilities at the first level and the first level, so as to ensure that the ideological understanding is in place, the policy support is in place, the work is implemented in place and the supervision and inspection is in place.

Wang Yang stressed that steady growth and structural adjustment are the two wheels for foreign trade work.

Steady growth is the basis for structural adjustment, and structural adjustment is the lasting driving force for steady growth.

Efforts should be made to optimize the structure of foreign trade products, improve the quality, grades and added value of export products; strive to optimize the structure of foreign trade market, deepen the traditional market, develop new markets, and layout potential markets; strive to optimize the structure of foreign trade enterprises, expand market opening to the outside world, and mobilize the enthusiasm and creativity of all kinds of enterprises such as private enterprises, so as to inject new vitality into the development of foreign trade.

Efforts should be made to optimize trade patterns, encourage enterprises to innovate business models and cultivate new growth points for foreign trade.

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According to the latest data from China foreign exchange trading center, the central parity of RMB against the US dollar in April 7th was 6.1305, up 43 basis points from the previous trading day, which is the highest in nearly two months since February 17th.

In addition, the spot exchange rate of RMB against the US dollar opened 37 basis points yesterday morning, at 6.1894, rising for sixth consecutive trading days.

With the consolidation of the US dollar, the central parity of RMB has changed slightly since mid March. The central parity of RMB has risen three consecutive trading days and has gained 129 basis points in April.

The RMB spot exchange rate has slowly appreciated since the early two months after its successive depreciation in the first two months, and has been restored to the beginning of this year.

Specifically, the spot exchange rate of RMB against the US dollar began to rebound after hitting a low of 6.2763 on 3 March. In March 31st, the spot exchange rate of RMB against the US dollar rose by 81 basis points to 6.1996, and the two consecutive trading days strengthened against the intermediate price.

At this point, the total RMB exchange rate in March rose by 1.12%, and it succeeded in getting rid of the three overlay factors such as the dollar appreciation, the new round of the global loose tide and the slowdown in domestic economic growth. The first quarter of the RMB reached a slight rise in the exchange rate of 0.07% to the dollar.

Lian Ping, chief economist at Bank of Communications (601328, stock bar), said that the recent appreciation of the renminbi is affected by the uncertainty of the US interest rate increase in the middle of the year, but it will not be a turning point in the strength of the US dollar, because the US dollar interest rate increase is still only a matter of time.

Lian Ping also said that the RMB exchange rate tends to a reasonable equilibrium level in two way fluctuations, and it will not overrate or depreciate too much.

At the same time, the trade surplus also supports the RMB exchange rate.

In recent days, Zhou Xiaochuan, vice president of the central bank and Yi Gang, have publicly indicated that the RMB's accession to the special drawing rights (SDR) is conducive to promoting the reform of the international monetary system, and will also play a catalytic role in the reform and opening up of China's financial sector.

The popularity of Asia Investment Bank and its accession to the SDR are the reflection of the internationalization of RMB and create an external environment for RMB appreciation in the near future.

CICC said that in the short term, the market may form the expectation of RMB's accession to the SDR, resulting in the pursuit of RMB and bring some appreciation pressure to the RMB.

At the same time, with the accelerated pace of convertibility reform, the fluctuation of RMB exchange rate will also increase under the influence of balance of payments and capital flows.