The Ministry Of Commerce Issued A Report On China'S Foreign Trade Situation. What Is The Situation Of Spinning And Exporting Clothes?

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Recently, the Ministry of Commerce and the international trade and Economic Cooperation Research Institute jointly issued the China foreign trade situation report (spring 2018) (hereinafter referred to as the "report").

The report reviewed the operation of China's foreign trade in the first quarter of 2017 and 2018.

In 2017, China made remarkable achievements in the development of foreign trade. The growth of imports and exports exceeded expectations, the structure of trade was further optimized, the quality and benefit continued to improve, and the power conversion was accelerated.

In the first quarter of 2018, China's foreign trade maintained a relatively fast growth and its structure continued to be optimized.

In 2017, textiles,

Exports of seven categories of labor-intensive products, including footwear, bags, toys, furniture and plastic products, were 3 trillion and 80 billion yuan, up 6.9% from the same period last year, accounting for 20.1% of total exports, down 0.7 percentage points from 2016.

In the first quarter of 2018, the above seven categories of labor-intensive products exported 646 billion 800 million yuan, the growth rate was basically the same as the same period in 2017, accounting for 18.3% of total exports.

Private enterprises have further enhanced their position in China's foreign trade.

In 2017, private enterprises exported 7 trillion and 140 billion yuan, an increase of 12.2%, accounting for 46.6% of total exports, 0.6 percentage points higher than in 2016.

In the first quarter of 2018, China's private enterprises exported 1 trillion and 640 billion yuan, an increase of 11.8% over the previous year, accounting for 46.5% of the total export volume, and the main export business status of the first big exporters was further consolidated.

In 2017, China's import and export of developed economies rose sharply, with imports and exports of the European Union and the United States increased by 15.5% and 15.2% respectively. The total two accounted for 29.3% of China's total import and export volume.

With the solid development of the "one belt and one way" construction, China's growth in imports and exports along the "one belt and one road" growth rate is 17.8%, higher than the total growth rate of imports and exports by 3.6 percentage points.

In the first quarter of 2018, China's imports and exports to the European Union, the United States and Japan increased by 8.2%, 6.3% and 3.4% respectively, and the import and export of ASEAN, Latin America and Africa increased by 13.7%, 14% and 12.4% respectively.

China and the "along the way" countries import and export 1 trillion and 860 billion yuan, an increase of 12.9% over the same period, and the overall growth rate of foreign trade is 3.5 percentage points.

Cross border E-commerce

New trade formats such as procurement and trade have grown rapidly and become a new highlight in the development of foreign trade.

Driven by the "three constructions" such as the pformation and upgrading base of foreign trade, trade promotion platform and international marketing network, a large number of foreign trade enterprises have made efforts from the supply side to speed up pformation and upgrading, increase technological innovation and management innovation, and continuously enhance their international competitiveness. The export of products with independent licensing, independent intellectual property rights, independent marketing channels, and high technology, high added value and high efficiency has increased rapidly, effectively satisfying and even creating market demand.

According to the report, in 2018, under the impetus of sustained recovery of world economy, good domestic economic stability and enhanced endogenous dynamism of foreign trade, the overall situation of China's foreign trade has improved, but uncertain factors of instability have increased.

From the international perspective, the growth momentum of the world economy has been enhanced, but the economic and political situation is more complicated. "Reverse globalization" and the rise of trade protectionism forces, the major economies' macroeconomic policy adjustment spillover effects are highlighted, geopolitical risks one after another, and the foundation of world economic recovery is not stable.

From the domestic perspective, China's economy is expected to maintain sustained and steady growth. However, the problem of unbalanced development is still outstanding, and it will take arduous efforts to accomplish the annual target and tasks.