Electronics

According to the latest data released by the General Administration of Customs, in the first half of the year, my country's import and export of mechanical and electrical products was 9.72 trillion yuan, a year-on-year increase of 4.2%, accounting for 49.1% of my country's total foreign trade import and export.

"Since the outbreak of the new crown pneumonia epidemic, the effective domestic epidemic prevention and control and the foreign supply chain caused by the epidemic have strengthened the position of my country's mechanical and electrical industry in the world." Gao Shiwang, director of the Industry Development Department of the China Chamber of Commerce for Import and Export of Mechanical and Electrical Products, said.

In terms of exports, my country's mechanical and electrical products exported 6,327.19 billion yuan in the first half of the year, an increase of 8.6% year-on-year.

Specific to the category of mechanical and electrical products, the export value of key mechanical and electrical categories such as computers, integrated circuits, mobile phones, and automobiles increased year-on-year in June, while the export value of household appliances continued to decline. Among them, the export of integrated circuits in June was 13.94 billion US dollars, a year-on-year increase of 16.8%, and the year-on-year increase for 42 consecutive months; the cumulative export in the first half of the year was 77.62 billion US dollars, a year-on-year increase of 17.2%, accounting for 4.5% of my country's total exports of goods, the highest export value single item.

Compared with the year-on-year increase in the export value of China's mechanical and electrical products, the import value has declined for four consecutive months. In the first half of this year, my country's imports of mechanical and electrical products were 3,390.38 billion yuan, a year-on-year decrease of 3.3%. In this regard, Gao Shiwang analyzed that mechanical and electrical imports are mainly concentrated in complete equipment such as automobiles, aircraft, and semiconductor equipment, and intermediate products such as integrated circuits, auto parts, semiconductor devices, and computer communication parts. The continuous decline in imports is mainly due to domestic demand for automobiles. The sluggishness and sluggish prospects of the computer communication industry have led to downstream enterprises reducing the inventory of intermediate products, and downstream related manufacturers of integrated circuits have high inventory and worry about supply chain problems. Gao Shiwang predicts that the decline in China's imports of mechanical and electrical products will narrow as the company's inventory gradually digests.

"Overall, my country's electromechanical foreign trade shows a trend of steady growth, quality improvement and efficiency improvement." Gao Shiwang said that my country's electromechanical products have ranked first in the world in terms of manufacturing and export since 2009, and nearly 100 major products are exported in output. The volume ranks first in the world, and there is limited room to further increase the global share. In terms of product structure, the export growth of traditional products is weak, but the growth of emerging products is obvious.

Gao Shiwang said that this year, the supply chain obstruction and poor logistics caused by the epidemic in some key foreign trade provinces in China increased supply-side pressure in April and May. Although it is gradually easing, industrial relocation and order transfer are still in some industries. manifested. For example, he said that the electronic information industry is the most representative industry for my country to integrate into the global supply chain. The exports of foreign-funded enterprises account for two-thirds of the total exports of the industry. With rising domestic costs and increasing global demand shifting to emerging markets, electronic information enterprises The processing and assembly links are being transferred to low-cost regions such as Vietnam and India.

Looking forward to the whole year, Gao Shiwang predicts that due to the shrinking international demand for traditional key export commodities such as computers, mobile phones, and household appliances, the fall in upstream bulk commodity prices will weaken the support for the export value of some products, superimposed on the impact of a high base, and the export of mechanical and electrical products will increase. The speed will slow marginally, and imports will also decline. On the market side, high inflation and high inventories weighed on the spending power of advanced economies. With the entry into force of RCEP (Regional Comprehensive Economic Partnership), the industrial stickiness between my country and RCEP countries will continue to increase.

Since the beginning of this year, problems such as supply chain disorder, large exchange rate fluctuations, and insufficient potential demand caused by the conflict between Russia and Ukraine, global inflation, and US interest rate hikes and shrinking balance sheets have caused significant negative impacts on mechanical and electrical foreign trade companies in terms of demand, supply and logistics. The depreciation of exchange rates in some countries such as Sri Lanka and Egypt has made it difficult for local customers to pay foreign exchange. The poor logistics and restricted personnel movement caused by the domestic epidemic prevention and control have greatly reduced the efficiency of production and delivery, and the stagnation of international business travel has seriously affected companies' development of the international market.

A relevant person in charge of a mechanical and electrical products company in Beijing said that due to factors such as weak foreign markets and delays in customer procurement plans, the company's export volume continued to decline after the epidemic. The situation was expected to be better this year, but export sales in the first and second quarters were not satisfactory.

According to a survey conducted by the China Chamber of Commerce for Import and Export of Machinery and Electronic Products on more than 600 machinery and electronic export enterprises during the Canton Fair this year, 47.2% of the enterprises have orders in hand, which is significantly lower than the historical level in the same period, and nearly 60% of the enterprises have less than two production schedules. moon. The production capacity of many small and medium-sized enterprises in Ningbo has dropped by half, and this situation may continue until the end of the third quarter.

Gao Shiwang said that in view of the fact that mechanical and electrical enterprises are adjusting the industrial layout in a combination of decentralization and supply chain localization, it is recommended that relevant departments strengthen infrastructure investment in the central and western regions, especially the construction of transportation networks, and give export-oriented foreign trade enterprises. A certain logistics subsidy will attract investment from leading enterprises and drive the establishment of supporting enterprises in the industrial chain.