China's Foreign Trade Upside Down

In August 14th, the data released by the National Bureau of statistics showed that in July, the national economy continued to operate in a reasonable range and remained stable and steady. Among them, the strong performance of foreign trade has become a bright spot: in the month of July, the total import and export volume was the highest in a single month since the beginning of this year, and the two growth rate also accelerated. The recent meeting of the Political Bureau of the Central Committee of the Communist Party of China calls for an effective response to economic and trade frictions and a comprehensive "six stability" work.

Since the beginning of this year, in the face of complex and severe domestic and international situations, China has made great efforts to do well in the work of "six stabilization", including stabilizing foreign trade and stabilizing foreign investment, and promoting the steady upgrading of foreign trade. In the long run, the trend of China's foreign trade structure optimization and power transformation will not change.

Look at foreign trade toughness in "one rise and one drop"

Under the background of global economic and trade risks and uncertainties, China's import and export volume totaled 27382 billion yuan in July, an increase of 5.7% over the same period last year. In 1-7 months, the total import and export volume reached 174083 billion yuan, an increase of 4.2%. How do you see this achievement?

From a longitudinal perspective, this is an excellent performance. Import and export value in July hit a new high this month, the growth rate was 2.6 percentage points faster than last month, a record high in the past 3 months.

Horizontally, this is a hard won achievement. At present, protectionism and unilateralism are escalated and Global trade is weak. In the updated content of the world economic outlook report released by the International Monetary Fund, the International Monetary Fund (IMF) will sharply reduce the growth rate of Global trade volume by 0.9 percentage points to 2.5% this year, far below last year's 3.7%, the lowest point in 3 years. "Under this background, China's foreign trade continued to maintain steady growth, showing its strong resilience." Zhang Jianping, deputy director of the academic committee of the Ministry of Commerce and director of the Regional Economic Research Center, told the reporter.

Apart from the whole, we should look at exports and imports separately. 1-7 months, exports of 94758 billion yuan, an increase of 6.7%. Among them, exports of 15242 billion yuan in July, the highest level since January this year, an increase of 10.3%, an increase of 4.3 percentage points from last month, a nearly 4 month high.

Liu Aihua, a spokesman for the National Bureau of statistics, pointed out that under the policy of stabilizing foreign trade, trade diversification and trade facilitation measures have been effective. Whether it is accumulated from 1 to July or the same month in July, export performance is pretty good, indicating that the impact of Sino US economic and trade frictions is generally controllable.

In terms of imports, it imported 12140 billion yuan in July, a new high of nearly 6 months, an increase of 0.4%, and a decrease of 0.4% last month. 1-7 months, imports of 79325 billion yuan, an increase of 1.3%.

"Imports have shown positive changes in two aspects: the growth rate has picked up for two consecutive months, and the rapid growth of imports of quality consumer goods has benefited from the steady performance of China's economy, the upgrading of domestic consumption and the release of dividend policy." Zhang Jianping said.

Structural optimization results are real.

In addition to the increase in quantity and speed, China's foreign trade also performs well in terms of quality and efficiency.

Recently, the assembly box area of Changchun international land port was busy. A box of floors, windshields, brakes and monitors are exported to Russia, Germany and other places through "Central Europe". "Changchun and other Northeast China cities have gathered a number of top auto manufacturers and their supporting parts enterprises, while Bavaria, which is located in Nuremberg, is a major German automobile manufacturing industry, so similar industrial clusters can produce a great linkage effect." Demy Ben, general manager of Changchun International Port Co., Ltd. Up to now, "full Europe" has shipped more than 43000 TEUs of import and export goods, and its value exceeds RMB 13 billion 800 million yuan.

Peeping spots see leopards. In the first half of July this year, the level of trade facilitation between China and the countries along the "belt and road" has been increasing continuously, with an increase of 10.2% in imports and exports and a 2.8 percentage point increase in imports and exports as a whole. With the traditional trade partners, the European Union and ASEAN's imports and exports increased by 10.8% and 11.3% respectively. In the first half of this year, China's imports and exports with 25 trade partners signed FTA increased by 3.8%.

The optimization of the structure is more balanced not only in the layout of the international market, but also in the domestic layout. In 1-7 months, exports in the central and western regions increased by 13.8%, higher than the overall growth rate by 7.1 percentage points, and the proportion increased by 1.1 percentage points to 17.5%.

Endogenous dynamism is constantly increasing. In the first half of this year, the number of private enterprises with import and export performance reached 33.6, an increase of 8.5%, accounting for nearly 80%. In 1-7 months, the import and export volume of private enterprises increased by 11.8%, accounting for 42% of the total import and export volume, 2.9 percentage points higher than the same period last year.

Commodity structure is constantly upgrading. The export of mechanical and electrical products increased by 6.1%, which was 0.8 percentage points faster than that in 1-6 months. Among them, integrated circuit, metal processing machine tools, excavators, medical devices and other high technology, high quality, high value-added products exports maintained a two digit growth. At the same time, the import of high-quality consumer goods has achieved rapid growth.

"This year, the progress made in the" quality "of foreign trade is gratifying. Zhang Jianping said that the general trade competitiveness continued to increase, the export of high-tech products increased significantly, the private enterprises became the main force of import and export, and the trade partners continued to expand. All these achievements were real.

Stable foreign trade policy reserves are still adequate.

Achievements should be affirmed and challenges can not be ignored. In Zhang Jianping's view, at present, the global trade tensions are escalating, the final demand is weak, and the growth momentum is weakening. In the face of challenges, the most important thing is to do well in our own affairs, maintain strategic determination, and promote stable and upgrading foreign trade.

The executive meeting of the State Council not long ago confirmed measures to further stabilize the foreign trade. The study continued to reduce the overall level of import tariffs, improve the export tax rebate policy and speed up the tax rebate. We should give full play to the role of export credit insurance, promote the expansion of coverage and reduce premiums reasonably, study and put forward specific insurance categories that meet the needs of enterprises, guide financial institutions to increase their support for foreign trade financing of SMEs, and create conditions for improving the convenience of RMB settlement. We should accelerate the development of new formats such as cross-border electricity suppliers, processing trade, bonded maintenance, and so on, and foster an import trade demonstration area. We have made greater breakthroughs in simplifying import and export regulatory documents, reducing customs clearance time and lowering port charges.

The responsible person of the Ministry of Commerce said that since this year, various departments and localities have increased policy support and actively nurture a new mode of trade. The third batch of 22 cross-border electricity business pilot zones were accelerated. In the first half of this year, cross-border e-commerce retail import and export grew rapidly. The first batch of used cars successfully exported in July, and the export volume in the second half of this year is expected to expand rapidly. Next, processing trade bonded maintenance projects will continue to fall to further attract higher technological level and greater value-added manufacturing and production services to China.

Zhang Jianping believes that China's policy reserves are still adequate, with more stable foreign trade policies and measures to accelerate the introduction and landing, the enterprise endogenous power will be further enhanced. At the same time, enterprises themselves need to make efforts to enhance product competitiveness, actively expand the market and take the initiative to resist external risks.

"China's foreign trade is characterized by its large volume, strong resilience and full strength. We rely on the integrity of the domestic industrial chain, relying on the huge domestic market, relying on the diversity of the international market, the adequacy of the endogenous power of the main body and the continuous optimization of the structure." Zhu Yong, deputy director of the Ministry of foreign trade of the Ministry of Commerce, said he believed that through joint efforts, the quality of foreign trade could be improved steadily this year.