General

At the State Council's regular policy briefing held by the State Council Information Office on September 5, the relevant person in charge of the Ministry of Commerce said that my country's domestic consumption has been steadily recovering, international trade has maintained rapid growth, and foreign investment has grown steadily. In the next step, the Ministry of Commerce will adhere to the general principle of seeking progress while maintaining stability, continue to strengthen efforts in stabilizing foreign trade, stabilizing foreign investment and promoting consumption, and promote the implementation of a package of policies to stabilize the economy and continuous international trade policy measures to be effective in the commercial field.

The economic data in July showed relatively bright performance in terms of international trade and foreign capital utilization. Exports exceeded expectations, the actual utilization of foreign capital maintained a relatively high growth rate, and the policy of stabilizing foreign trade and foreign investment achieved results.

Fan Zhiyong, a professor at the School of Economics at Renmin University of China, said that from the data, in July this year, China's total import and export growth reached a high level of 16.6%. After the outbreak of the new crown pneumonia epidemic, my country's imports and exports have maintained a relatively high growth rate, even exceeding the situation before the epidemic, which is a relatively dazzling performance of the Chinese economy. In July, the export growth rate reached 23.9%, and the import growth rate was 7.4%. From the performance of the first seven months, the total import and export growth rate was 10.4%, of which the export growth rate (14.7%) was still higher than the import growth rate (5.3%). %). Looking at the cumulative surplus of my country's international trade after 2020, as of July, the trade surplus created this year has exceeded 480 billion yuan, which has made an important contribution to stabilizing GDP growth.

According to Fan Zhiyong, the actual utilization of foreign capital in RMB reached 720 billion yuan in July, a growth rate of 17.4%, and a growth rate of 21.8% in US dollars. On the whole, the growth rate of my country's utilization of foreign capital is still maintained at a relatively high level. In particular, the growth rate of foreign capital utilization in some high-tech manufacturing and high-tech service industries is still more than 30%, and some major foreign capital source countries still maintain relatively high investment in China, which shows that China's economy is still in the difficult period of the global economy. It has maintained a relatively dazzling performance, so it is still relatively attractive to global funds, which also means that international investors still maintain relatively strong confidence in the Chinese economy.

As one of the "troikas" driving the economy, international trade is of great significance to the steady development of China's economy. Ye Yindan, a researcher at the Bank of China Research Institute, said that the reason why China's economy can achieve a growth rate of 8.1% in 2021 when the global economic recovery is sluggish will play a very important role in the rapid growth of imports and exports, with a contribution rate of more than 20%. Under the current situation, it is imperative to stabilize foreign trade, whether it is to stabilize growth or maintain employment.

In order to promote the stable development of imports and exports, the relevant departments have previously requested to speed up the progress of export tax rebates, and allow the export credit insurance indemnities obtained by international trade enterprises to be regarded as foreign exchange receipts, and tax rebates can be processed. Ye Yindan believes that, compared with "saving expenditure" to reduce the burden of international trade enterprises in terms of finance and taxation, a more direct and fundamental measure to stabilize foreign trade lies in "open source", and it is necessary to create conditions to help enterprises obtain orders and deliver shipments.

Fan Zhiyong said that the premise of reducing taxes and fees and exporting tax rebates is that foreign trade companies have orders and are still exporting, and there is room for tax reduction and tax rebate. .

Fan Zhiyong believes that in addition to the implementation of the five foreign trade stabilization policies deployed at the executive meeting of the State Council in May this year, we must also attach great importance to changes in the international economic and trade environment. First, we should not have too high expectations for the improvement of the international economic and trade environment. Although my country's international trade and foreign investment are relatively favorable, it should be noted that economic and trade frictions, financial frictions, and technological frictions are difficult to alleviate in the short term, and even worsen. The second is to promote the change of consumer and investor confidence. Strengthening prevention and control work still needs to be more scientific, and balance the relationship between epidemic prevention and control and economic recovery. The third is to stabilize supply and expand demand. We must continue to do a good job in supplying major energy and food, and create a stable environment for the macro economy in the face of global market turmoil; fiscal and monetary policies must address the "six stability" "The "six guarantees" and the balance of preventing financial risks.

Ye Yindan said that the new policy of the Ministry of Commerce to stabilize foreign trade mainly includes four aspects. The first is to promote the development of new formats and models of foreign trade. Policies to support the development of cross-border e-commerce overseas warehouses should be introduced as soon as possible, and professional entities such as logistics enterprises, cross-border e-commerce platforms and large cross-border e-commerce sellers should be supported to build overseas warehouses. At the same time, a new batch of cross-border e-commerce comprehensive pilot zones and market procurement trade methods will be added as soon as possible. The second is to support the export of key products such as new energy vehicles. It is necessary to support new energy vehicle companies in building overseas marketing and after-sales service networks. Encourage qualified overseas institutions of Chinese-funded banks to provide overseas consumer financial products. The third is to provide more convenience and support for the personnel of foreign trade enterprises to go abroad to carry out business activities in terms of unblocking the channels for international trade enterprises to grasp orders. Further play the role of overseas self-organized exhibitions, and actively support small, medium and micro international trade enterprises to participate in the exhibition. Fourth, continue to guide international trade enterprises to establish a neutral awareness of exchange rate risks, encourage banking institutions to innovate and optimize products, provide exchange rate hedging and cross-border RMB settlement services for more small and medium-sized international trade enterprises, and help enterprises improve exchange rate and other risk response capabilities.