General

On October 27, the spokesman of the Ministry of Commerce, Shu Jueting, said at the regular press conference of the Ministry of Commerce that, looking forward to the fourth quarter, with the weakening of the growth momentum of the world economy and global trade, the foreign trade development environment is becoming increasingly complex, uncertainty is still increasing, and the risk of slowing down the growth of foreign demand is increasing.

Shu Jueting said that since this year, under the strong leadership of the CPC Central Committee and the State Council, the Ministry of Commerce has closely cooperated with various localities and departments. The vast number of international trade enterprises have risen to the challenge and worked hard to overcome the impact of various adverse factors. China's foreign trade has shown strong resilience and vitality.

In the first three quarters, China's international trade import and export volume reached 31.1 trillion yuan, up 9.9% year on year. Net exports of goods and services contributed 32% to economic growth, driving GDP growth by 1 percentage point, and making positive contributions to stabilizing the macroeconomic market.

"WTO data show that the growth rate of global exports of goods in international trade fell from 19.5% in the first quarter of this year to 16.6% in the second quarter. High inflation in some major economies, coupled with high commodity inventories, further curbed import demand." Shu Jueting said.

Despite many difficulties and challenges, China still has many favorable conditions for the steady growth of international trade. Since the second half of the year, the CPC Central Committee and the State Council have deployed to strengthen efforts to stabilize the economy and foreign trade, and various support policies have been introduced and implemented with results. All localities have also timely introduced practical and effective supporting measures.

She said that in a comprehensive way, China's international trade has a good industrial foundation. Foreign trade enterprises' performance and innovation capabilities have been continuously enhanced, and their trade contacts with the global market have become closer. We will strive to maintain the operation of foreign trade within a reasonable range, achieve the goal of maintaining stability and improving quality throughout the year, and continue to make positive contributions to the recovery of the national economy.