General

On September 27, the Information Office of the State Council held a regular briefing on the policies of the State Council to introduce the support for the stable development of foreign trade and answer questions from reporters.

Wang Shouwen, the international trade negotiator and vice minister of the Ministry of Commerce, said at the press conference that according to import and export data, in the first eight months of this year, China's import and export volume reached 27.3 trillion yuan, an increase of 10.1% year on year. China's foreign trade once again showed strong resilience and vitality. He said that the Ministry of Commerce would continue to work with relevant local authorities and departments to closely monitor the operation of foreign trade, do a good job in analyzing, studying and judging the situation, do a good job in organizing and implementing the new round of foreign trade policies, and strive to provide good services for the majority of foreign trade enterprises to reduce costs and increase efficiency, so as to ensure the completion of the goal of ensuring the stability and quality of foreign trade this year.

The growth of foreign demand slowed down, and the growth of foreign trade slowed down in August

According to the import and export data, from January to August this year, China's foreign trade import and export reached 27.3 trillion yuan, a year-on-year increase of 10.1%, a record high. At the same time, however, the growth rate of foreign trade in August was declining. Compared with July, the growth rate of foreign trade import and export decreased by 7.9 percentage points. Some enterprises reported that foreign trade orders were also declining.

When answering questions from reporters, Wang Shouwen pointed out that the slowing growth of foreign demand is the biggest uncertainty facing China's foreign trade at present, which is mainly reflected in the slowing economic growth of major economies such as the United States and Europe.

He said, for example, that in September, the Federal Reserve predicted that the US GDP would grow by 0.2% this year, and the European Central Bank predicted that the economic growth rate of the euro area in the third and fourth quarters of this year would be close to zero. According to the import and export data, the overall export growth of 68 major economies in the world dropped from 14.9% in the first quarter to 11.9% in the second quarter.

Chinese enterprises reflect that orders are decreasing. It is because import demand in some major markets is decreasing. Enterprises in Southeast Asia and other countries are also feeling that orders and demand are decreasing.

Wang Shouwen analyzed that this is because inflation in some major economies is high and the crowding out effect on general consumer goods is increasing. Some time ago, many foreign importers bought more goods, forming a high level of inventory. Now we need to digest the inventory, which restricts the release of new orders. In addition, the demand for "housing economy" caused by the epidemic is also declining.

Attach great importance to import and focus on three tasks

The Chinese government attaches great importance to imports and actively expands imports. According to the import and export data, in 2021, China's total imports will be 2.69 trillion US dollars, accounting for 11.9% of the world's imports. From January to August this year, China imported 1.82 trillion US dollars, up 4.6% year on year.

Li Xingqian, Director of the Department of Foreign Trade of the Ministry of Commerce, said that the Ministry of Commerce was working with relevant departments to continuously promote the expansion of the import of high-quality products worldwide, focusing on three tasks: expanding market opening, innovating the import promotion platform and giving play to the import function of the exhibition.

Li Xingqian introduced that in recent years, China has determined 14 import trade promotion innovation demonstration zones. These demonstration zones have actively carried out policy innovation, effectively promoted the deep integration of import trade, industry and consumption, and formed their own advantages and characteristics. At present, the expert team is reviewing a new batch of import demonstration zones. After the establishment of the demonstration zone, it will further promote the competitive development of import trade nationwide.

China is the only country that holds the International Import Expo. In the past three years, the turnover of each Import Expo has exceeded 70 billion US dollars. Li Xingqian said that the Ministry of Commerce will continue to run well the import exhibition areas of the China Import Expo, the Consumer Expo and the Canton Fair, connect the world, buy and sell the world, and serve the world through these exhibitions, so as to promote more countries' high-quality products to enter the Chinese market and share China's open development opportunities.

Detailed explanation of foreign trade trend, "confident to achieve positive growth in the second half of the year"

Wang Shouwen said that our foreign trade itself has a good foundation and policy support. Free trade agreements, including RCEP, also play a very important role in promoting the development of China's foreign trade.

According to the import and export data, from January to August, China's mechanical and electrical products accounted for 56.5% of foreign trade exports, and the competitiveness of high value-added and high-tech products was constantly reflected; From January to August, China's automobile exports increased by 57.6%, and solar cell exports increased by 92.6%. This is a reflection of the strong foundation and good competitiveness of the foreign trade industry. In addition, in August, China's exports to other RCEP member countries increased by 23%, 11.2 percentage points higher than the overall export growth in August.

Since this year, the State Council has introduced a series of policies and measures to stabilize the economy and foreign trade, which have achieved good results. On September 13, the executive meeting of the State Council adopted a number of policies and measures to support the stable development of foreign trade. On September 27, with the consent of the State Council, the Ministry of Commerce has officially issued the Several Measures to Support the Stable Growth of Foreign Trade, mainly including strengthening the ability of foreign trade performance and further expanding the international market; Stimulate innovation vitality and help stabilize foreign trade; Strengthen the guarantee ability and promote the smooth flow of trade.

At the same time, all parts of the country also attach great importance to foreign trade. Many provinces have introduced practical and effective supporting measures, established a "white list" system for foreign trade enterprises, and focused on supporting them. The competent commercial departments have carried out regular visits and "one-to-one" assistance to some key foreign trade enterprises, which are conducive to the stable growth of foreign trade.

"On the whole, we are confident that the foreign trade in the second half of the year will achieve positive growth and make positive contributions to the recovery of the national economy through the growth of foreign trade." Wang Shouwen said.