General

According to import and export statistics, in the first eight months of this year, my country's total import and export value was 27.3 trillion yuan, an increase of 10.1% over the same period last year (the same below). Among them, exports were 15.48 trillion yuan, an increase of 14.2%; imports were 11.82 trillion yuan, an increase of 5.2%; trade surplus was 3.66 trillion yuan, an increase of 58.2%.

Li Kuiwen, director of the Statistics and Analysis Department of the General Administration of Customs, said that since the beginning of this year, facing the complex and severe foreign trade development environment, my country has effectively coordinated epidemic prevention and control and economic and social development, and has continued to introduce a series of policies to stabilize foreign trade to promote foreign trade to stabilize the market, expand its advantages and increase its growth. vitality. In the first eight months, the growth rate of imports and exports reached 10.1%, achieving stable growth. Among them, in the first eight months, seven provinces and cities including Guangdong, Jiangsu, Zhejiang, Shanghai, Beijing, Shandong, and Fujian contributed more than 70% to the national foreign trade growth, providing key support for stabilizing the foreign trade market.

The rapid growth of the import and export of private enterprises

Judging from the monthly import and export data, in August, my country's total import and export value was 3.71 trillion yuan, an increase of 8.6%. Among them, exports were 2.12 trillion yuan, an increase of 11.8%; imports were 1.59 trillion yuan, an increase of 4.6%. In July, my country's total import and export value was 3.81 trillion yuan, an increase of 16.6%. Among them, exports were 2.25 trillion yuan, an increase of 23.9%; imports were 1.56 trillion yuan, an increase of 7.4%.

Zhou Maohua, a macro researcher at the Financial Market Department of China Everbright Bank, believes that my country's export scale in August was higher than the trend level. In terms of RMB, the export growth rate continued to maintain double-digits; from the perspective of structure, the structure of domestic and foreign trade exports continued to be optimized, and the export of mechanical and electrical products remained relatively high. At the same time, the export of labor-intensive products is reflected in the overseas high inflation environment. my country's foreign trade exports are still relatively cost-effective, and my country's foreign trade exports are resilient.

Overall, exports remained resilient in August. Talking about the reasons, Wang Qing, chief macro analyst of Oriental Jincheng, said that the recent domestic epidemic fluctuations have limited impact on manufacturing capacity and logistics transportation. Under the influence of many factors, overseas still relies heavily on "Made in China". At the same time, the continuous development of domestic foreign trade policies to stabilize foreign trade will also form a certain support for exports.

From a regional perspective, Yiwu City is an important part of my country's export chain. In 2020, its main export commodities include plastic products, electrical and electrical equipment, clothing, toys, etc. Since the production and living activities of Yiwu City were affected by the epidemic in August, among my country's main export commodities, the year-on-year growth rate of the export value of commodities with a high degree of overlap with Yiwu City's exports was significantly lower than that in July.

In August, there were still many bright spots in my country's foreign trade import and export data. For example, the import and export of private enterprises has grown rapidly and the proportion has increased. In the first eight months, the import and export of private enterprises reached 13.68 trillion yuan, an increase of 14.9%, accounting for 50.1% of my country's total foreign trade value, an increase of 2.1 percentage points over the same period last year. Among them, exports were 9.3 trillion yuan, an increase of 20.2%, accounting for 60% of the total export value; imports were 4.38 trillion yuan, an increase of 5%, accounting for 37.1% of the total import value.

Huacheng Import and Export Data Observation Report, in terms of imports, Zhou Maohua said that the slowdown in import growth in August was mainly due to the fact that my country's demand was in the recovery stage and was generally weak; international bulk commodity prices were running at a high level, and the price effect weakened import demand; in addition , also affected by the high base of imports last year.

Foreign trade exports will remain resilient

Looking forward to the future, Zhou Maohua believes that due to the slowdown in overseas demand and the impact of the high base last year, there is pressure to slow down the year-on-year growth rate of my country's foreign trade exports. But in general, my country's foreign trade exports are still expected to remain resilient. This is due to the normalization of domestic epidemic prevention and control, the basically smooth logistics, industrial chain and supply chain, and the bailout policy to help enterprises effectively relieve the operating pressure of foreign trade enterprises. In addition, foreign trade enterprises are also improving quality and efficiency, and actively responding to difficulties and challenges.

However, Wang Qing also mentioned that with the increase in the export base in the same period last year, the impact of the overseas economic downturn on my country's exports was further reflected, and the pulling effect of the rising prices of export commodities tended to weaken, and my country's export growth rate was still down in September. pressure.

Huacheng Import and Export Data Observation reports that in terms of imports, Wang Qing believes that the domestic economy will still maintain the momentum of recovery, but the possibility of a substantial expansion of import demand is small. In addition, the international bulk commodity prices are still on a downward trend. In the future, my country's imports will increase. Speed will generally maintain a low volatility trend.

Since the beginning of this year, the risks and challenges faced by foreign trade have increased significantly, and the pressure to stabilize foreign trade has increased. The Party Central Committee and the State Council have attached great importance to this, and have successively deployed and issued several rounds of policies to stabilize foreign trade. With the joint efforts of all parties, my country's foreign trade has shown strong resilience. However, it should also be noted that foreign trade still faces unfavorable factors such as the slowdown of external demand expansion and the difficulty of enterprises receiving orders.

In order to further stabilize the development of foreign trade, the Ministry of Commerce, the General Administration of Customs and other departments have recently issued new policies. Among them, in terms of promoting the development of new formats and new models of foreign trade, Assistant Minister of Commerce Li Fei recently stated at the State Council's regular policy briefing that the Ministry of Commerce will work with relevant departments to issue policies to support the development of cross-border e-commerce overseas warehouses as soon as possible. Professional entities such as logistics companies, cross-border e-commerce platforms and large cross-border e-commerce sellers 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.

It is worth noting that the current external environment has become more complex and severe, and the factors affecting the RMB exchange rate have increased. Li Fei said that the Ministry of Commerce will work with the People's Bank of China, the State Administration of Foreign Exchange and other departments to continue to guide foreign trade enterprises to establish a neutral awareness of exchange rate risks, encourage banking institutions to innovate and optimize products, and provide exchange rate hedging and cross-border RMB settlement for more small, medium and micro foreign trade enterprises. Serve.

"In the next step, the Ministry of Commerce will work with relevant departments to refine the implementation measures, and guide all localities to introduce targeted support measures and do a good job of implementation based on the actual situation of the region, so as to ensure that foreign trade enterprises can enjoy the policy dividends as soon as possible." Li Fei said.