General

Stabilize the basic situation of foreign trade and maintain a strong recovery trend of the foreign trade economy! The overall performance of the Chinese economy is better than expected, mainly due to higher than expected export data in March. To maintain a strong recovery in economic growth, special attention needs to be paid to the basic situation of foreign trade to some extent.

Comprehensively and Accurately Viewing the Economic Situation

Stabilize the basic situation of foreign trade and maintain a strong recovery trend of the foreign trade economy! The Political Bureau meeting of the Central Committee of the Communist Party of China held at the end of April analyzed and studied the current economic situation and work. The meeting believed that "the improvement of China's economic performance is mainly restorative, the endogenous driving force is not strong, demand is still insufficient, and economic transformation and upgrading face new obstacles. Promoting high-quality development still needs to overcome many difficulties and challenges.

Stabilize the basic situation of foreign trade and maintain a strong recovery trend of the foreign trade economy! Zhang Junwei, a researcher at the Macroeconomic Research Department of the Development Research Center of the State Council, stated that judging the situation is crucial. We should not only see the positive factors of the domestic economy, but also have a clear understanding of the contradictions faced by economic development; We should not only view our own development with optimism and confidence, but also calmly and objectively assess our difficulties. This is not only an attitude, but also a methodology. If we cannot clarify the situation, we cannot talk about 'applying the right medicine to the case', "Zhang Junwei told reporters.

Stabilize the basic situation of foreign trade and maintain a strong recovery trend of the foreign trade economy! The current economic recovery and stable growth policies have played an important role and achieved a good start, but there are still shortcomings in market recovery, especially when external demand is facing significant pressure.

Stabilize the Basic Market of Foreign Trade

The role of foreign trade in stabilizing growth and employment is self-evident.

Stabilize the basic situation of foreign trade and maintain a strong recovery trend of the foreign trade economy! The Central Political Bureau meeting emphasized that attracting foreign investment should be given a more important position and the basic situation of foreign trade and investment should be stabilized. Moreover, the General Office of the State Council recently released the "Opinions on Promoting Stable Scale and Optimal Structure of Foreign Trade", which pointed out that promoting stable scale and optimal structure of foreign trade plays an important supporting role in stabilizing growth and employment, building a new development pattern, and promoting high-quality development.

Zhang Yuyan, director of the Institute of World Economy and Politics of the Chinese Academy of Social Sciences, said in an interview that under the background of domestic and international double circulation and mutual promotion, the position of foreign trade should not be weakened but strengthened.

Exports are beneficial for stabilizing and expanding domestic employment, as well as driving economic growth. This is not the ultimate goal, but the key is to promote trade optimization and upgrading, which will facilitate deep participation in global industrial division of labor and cooperation, and maintain a diversified and stable international economic pattern and economic and trade relations. Exports can enhance the linkage between domestic and international markets and two types of resources, objectively benefiting the optimal allocation of domestic production factors, allowing resources and factors to flow from inefficient enterprises to high-efficiency enterprises, and from low-tech industries to high-tech industries, thereby promoting industrial technology upgrading and promoting industrial structure transformation. This is also the essence of high-quality development

Zhang Yuyan stated that the "decoupling theory" of international bias cannot be ignored. Currently, China ranks fourth among the United States' foreign trade partners, while China and the United States were each other's largest foreign trade partners in the world before. "Recently, ASEAN and countries along the the Belt and Road have maintained active trade activities with China, but the trade capacity of developed countries such as the United States and Europe cannot be ignored, and they are still the main force of global trade growth."

Long and short-term policies to stabilize the basic market of foreign trade

It should be noted that the weakening of global external demand poses serious challenges to China's exports. The latest forecast from the World Trade Organization suggests that global trade in goods will grow by 1.7% in 2023, one percentage point lower than 2022. Meanwhile, under high interest rates and high inflation, domestic demand in the United States continues to show a weak trend. These unfavorable conditions are important factors that affect China's export trend.

Professor Wei Hao from the School of Economics and Business Administration of Beijing Normal University told reporters that China needs to closely monitor the development and changes of the situation, and promptly solve the "urgent and difficult" problems faced by export enterprises.

Strengthening export policy support is an important means to stabilize the basic situation of foreign trade, further implementing support policies that comply with international rules, optimizing services such as export tax refunds, credit insurance, and credit, and promoting the development of foreign trade exports.

Further optimizing the environment for foreign trade development is fundamental to stabilizing the basic situation of foreign trade. Deepen the construction of a "single window", expand the application scope of measures such as "linkage unloading" and "ship side direct lifting", and improve the efficiency of goods circulation. Improve the efficiency of port clearance, strengthen diversion and diversion, fill the gaps in channels, and enhance the port's cargo handling capacity.