General

The fourth quarter is usually the traditional peak season for China's foreign trade. However, Sun Xiao, spokesperson of the China Council for the Promotion of International Trade, said on the 29th that the current problem of insufficient orders for foreign trade companies is prominent, and international trade imports and exports are under further pressure.

According to official data, in the first 10 months of this year, the total volume of imports and exports of China's international trade increased by 9.5% year-on-year, and the total volume of imports and exports, total exports, and total imports all hit new highs in the same period of history. However, in RMB terms, the year-on-year growth rate of China's international trade exports in October has dropped from 8.3% in September to 6.9%, such as a year-on-year decrease of 0.3% in US dollars.

In this regard, Sun Xiao said frankly at the press conference held that day that the current new crown pneumonia epidemic has repeatedly delayed, the geopolitical situation is tense, and the fragility of the world economy has become more prominent. Against such a background, Chinese foreign trade companies are facing multiple challenges such as weakening external demand, rising costs, and increasing risks, and the problem of insufficient orders is particularly prominent. Entering the fourth quarter, international trade imports and exports are under further pressure.

He said that in order to stabilize the growth of foreign trade, China Council for the Promotion of International Trade will do a good job in the overseas exhibition work at the end of this year and the beginning of next year, guide the exhibition organizers to do a good job in the pilot group work abroad, and help enterprises grab orders and expand the international trade market. At present, the first batch of pilot approvals for 15 overseas economic and trade exhibition projects from November 2022 to February 2023 has been completed, distributed in 8 countries including Germany and the United States, involving textiles, auto parts, sporting goods, electronics, consumer goods and other fields.

Sun Xiao said that the next step will be to strengthen legal services such as international economic and trade arbitration, commercial mediation, and intellectual property protection, and guide enterprises to deal with the impact of US-related sanctions and the Ukrainian crisis, and protect their rights and interests.