China'S Foreign Trade Situation Report (Spring 2020) Released

In June 15th, the Ministry of Commerce and the international trade and Economic Cooperation Research Institute jointly issued the China foreign trade situation report (spring 2020) (hereinafter referred to as the "report"). The report reviewed the operation of China's foreign trade in the first 5 months of 2019 and 2020, and analyzed the development environment of China's foreign trade in 2020. In 2019, under the background of the overall slowdown in Global trade, China's foreign trade grew in an all-time high with a new record of high quality and high quality development. Since 2020, under the background of the global spread of the new crown pneumonia epidemic, the sharp decline of international market demand and the increasing pressure of trade downward pressure, the growth rate of China's foreign trade imports and exports has dropped in the first 5 months, but since March, the import and export has narrowed down, and the development of foreign trade quality has continued.

According to the report, the uncertainty in the development of foreign trade in 2020 is increasing, and challenges and pressures have increased significantly. The risk of world recession is rising, the supply chain of industry chain is blocked, and international trade and investment are shrinking. The difficulties faced by domestic enterprises, especially small and medium sized enterprises, are highlighted. Employment pressure is increasing. The risks and challenges faced by China's foreign trade development are extremely complex and severe. At the same time, we should also see that with the gradual easing of the domestic epidemic situation, the economic production activities are gradually restored to normal, stabilizing the basic foreign trade market for the whole year, and achieving stable and qualitative improvement in foreign trade, which still has a solid foundation and strong support.

The report points out that the Ministry of Commerce will, guided by Xi Jinping's socialist ideology with Chinese characteristics in the new era, fully implement the spirit of the nineteen and nineteen sessions of the second, third and fourth plenary sessions of the party, and resolutely implement the decision-making and deployment of the Party Central Committee and the state Council, closely confront the objective and goal of building a well-off society in an all-round way, and make overall efforts to prevent and control the disease and develop foreign trade, so as to make every effort to stabilize the basic foreign trade market. We should further promote the "five optimizations" and "three constructions", promote the stability and quality improvement of foreign trade, promote the development of high quality trade, better serve the overall situation of economic and social development, and make due contributions to the building of a well-off society in an all-round way.

? ?? Enclosure: Report on China's foreign trade situation (spring 2020)