China Becomes A Stabilizer For Global Trade Operation

In April 12th, the General Administration of Customs announced the import and export of China's foreign trade in the first quarter of 2019.

According to customs statistics, in the first quarter of this year, the total value of China's foreign trade imports and exports was 7 trillion and 10 billion yuan, an increase of 3.7% over the same period last year.

Among them, exports were 3 trillion and 770 billion yuan, an increase of 6.7%; imports of 3 trillion and 240 billion yuan, an increase of 0.3%; trade surplus of 529 billion 670 million yuan, an expansion of 75.2%.

Li Kuiwen, a spokesman for the General Administration of customs, said that since the beginning of this year, some international organizations have lowered the growth rate of global economy and international trade. Under this background, China has become a "stabilizer" for the operation of the global trade. The steady growth of China's foreign trade in the first quarter has released a positive signal, which will help boost confidence and stabilize global trade.

"From the growth figures, China's foreign trade situation is positive in the first quarter, and some favorable factors have promoted a good result in the first quarter of our foreign trade."

Li Chunding, director and professor of the Institute of international economics of China Agricultural University, said in an interview with China trade daily that the resumption of China's foreign trade growth also shows that China's foreign trade competitiveness has been continuously enhanced. Mainly due to the improvement of China's product competitiveness and the gradual success of the successful pformation of trade, enterprises are able to actively explore new markets through some new forms of foreign trade in the face of Global trade protectionism. For example, e-commerce, cross-border e-commerce and other new formats have played a good role in promoting the development of foreign trade.

In addition, the driving effect of some policies to promote the development of foreign trade is also emerging, and Sino US trade relations also have a tendency to ease.

"International organizations are gradually reducing global economic growth expectations, but China's foreign trade development is thriving", which has also contributed to global economic growth.

Li Chunding said.

According to Li Kuiwen's introduction, China's growth in imports and exports to the main trading partners such as the European Union, ASEAN and Japan in the first quarter was higher than that of the whole country.

In response, Li Chunding said, "from the data point of view, the increase of China's foreign trade mainly comes from the trade with the European Union, the" one belt along the way "and some emerging economies.

On the one hand, due to the early Sino US trade friction, a large number of orders have been pferred to the EU, emerging market countries and the "one belt and one road" country.

On the other hand, with the continuous pformation of China's foreign trade in recent years, the related industries are gradually shifting to the emerging market countries and the countries along the belt and road. China's economic and trade cooperation with Europe is further strengthening.

In addition, in the first quarter of this year, the import and export of China's comprehensive bonded area increased by 526 billion 230 million yuan, an increase of 11.7%, of which exports were 311 billion 180 million yuan, an increase of 8.4%; imports of 215 billion 50 million yuan, an increase of 16.7%; the growth rate of imports and exports, exports and imports were higher than the total growth rate of 8, 1.7 and 16.4 percentage points respectively.

At the beginning of January this year, the executive meeting of the State Council deployed the advanced international standard of benchmarking to promote the upgrading of the comprehensive bonded zone. It was committed to building the comprehensive bonded zone into a new high-level open platform, and introduced some facilitation reform measures to improve the business environment of the comprehensive bonded zone and further facilitate trade and investment facilitation.

In this regard, people in the industry have commented that the achievements made in the first quarter of the comprehensive import and export trade of bonded zones also showed that China's measures to help trade and investment development have achieved good results. The comprehensive bonded zone has played a positive role in stabilizing foreign trade. The comprehensive bonded area will have great potential in promoting China's foreign trade development in the future.

"Sino US trade frictions and trade tensions between the United States and the European Union make global trade development uncertain, but the development of national economic and trade relations is only a presentational factor that affects global economic growth."

Wang Jian, director of the international business research center of University of International Business and Economics, analyzed that the global trade market is undergoing major pformation. Technology driven trade development, e-commerce and cross-border electricity suppliers play an increasingly important role in the global trade development. With these platforms, small and medium enterprises have become an important force in promoting global trade development.

China is also at the forefront of cross-border electricity supplier development. From this perspective, China's foreign trade growth will still have potential in the future.

"The situation of China's foreign trade development may depend on the global environmental changes, especially the outcome of the negotiations between China and the United States, which is a key factor, but I think the factors that may be good are most likely."

In Li Chunding's view, the current Sino US trade negotiations are more likely to reach an agreement, and Sino US trade relations are developing in a good direction.

In addition, trade disputes between the United States and Europe continue to emerge, which will also tighten trade relations between China and Europe and promote bilateral investment agreement negotiations.

In the future, China will deepen economic and trade cooperation with other economies. With the development of "one belt and one road" and China's cooperation with African and Latin American countries, emerging markets will become the new direction of China's foreign trade development.

"Therefore, on the whole, the positive factors of China's foreign trade growth are greater than negative ones."

Li Chunding said.