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China’s foreign trade maintained positive growth for 6 consecutive months (Rui Finance)
According to data released by the General Administration of Customs on December 7, the total value of China’s import and export merchandise trade in the first 11 months was 29.04 trillion yuan, a year-on-year increase of 1.8%. . So far, imports and exports have achieved positive growth for six consecutive months, and the cumulative growth rate of imports and exports during the year also continued the positive growth trend from the third quarter. The multi-party analysis noted that the current situation is the result of multiple factors, such as market entities actively breaking through and stabilizing foreign trade measures. Future foreign trade still faces uncertainty and sustained growth still requires efforts.
November exports increased 14.9%
“Our orders are scheduled until April of next year.” “Workers are working overtime to complete the schedule” … Recently, export orders for small appliances, furniture, toys, bicycles and other industries have increased significantly, and some foreign trade companies have reported that export orders are “exploited”. The phenomenon has increased. This positive momentum is confirmed in the data.
According to customs statistics, in November, China’s foreign trade imports and exports were 3.09 trillion yuan, an increase of 7.8%. Among them, exports were 1.8 trillion yuan, an increase of 14.9%; imports were 1.29 trillion yuan, a decrease of 0.8%; the trade surplus was 507.1 billion yuan, an increase of 92.6%.
From January to September, China’s cumulative foreign trade growth rate went from negative to positive for the first time this year, with a year-on-year increase of 0.7%; from January to October, the growth rate of foreign trade increased to 1.1%; in November, the growth rate continued to expand.
In terms of exports, mechanical and electrical products, textiles and plastics are showing growth. In the first 11 months, China exported 9.57 trillion yuan of mechanical and electrical products, an increase of 5.4%, accounting for 59.3% of the total value of exports. Among them, the export value of automatic data processing equipment and parts was 1.31 trillion yuan, an increase of 10.7%; During the same period, textile exports, including masks, were 989.23 billion yuan, an increase of 33%; plastic products were 527.78 billion yuan, an increase of 20.1%; furniture was 3650.7 Billion yuan, an increase of 11.2%, toys 210.48 billion yuan, an increase of 6.8%. “Household economy” staples, such as laptops and household appliances, have also increased significantly.
Li Kuiwen, Director of the Department of Statistics and Analysis of the General Administration of Customs, said that since the beginning of this year, the new epidemic of corona pneumonia has devastated the world and the world economy has experienced a serious decline. However, China has achieved important strategic results in coordinating epidemic prevention and control and economic and social development, and foreign trade policies and measures have been effective and efficient. China’s foreign trade imports and exports have achieved positive growth for six consecutive months since June, and international market share has increased further.
Private companies accounted for 46.4% of imports and exports
While the overall value of imports and exports is on an upward trend, China’s foreign trade also shows outstanding bright spots.
Imports and exports to the main trading partners have maintained growth and the trade situation is good.
Customs statistics show that in the first 11 months of this year, China’s imports and exports with ASEAN, the EU, the United States, Japan, South Korea and five other major trading partners have achieved growth, with values of import and export of 4.24 trillion yuan, 4.05 trillion yuan and 3.65 trillion yuan, respectively. Yuan, 2 trillion yuan, 1.8 trillion yuan, an increase of 6.7%, 4.7%, 6.9%, 1.4% and 0.9%, respectively. Among them, ASEAN is China’s largest trading partner, accounting for 14.6% of the total value of China’s foreign trade.
In an interview with our reporter, Bai Ming, deputy director of the International Market Research Institute of the Research Institute of the Ministry of Commerce, said that China’s resumption of work and production is in good shape and that the domestic production capacity is guaranteed, which has become a “stabilizer” for the global market. China’s foreign trade performance under the epidemic has also increasingly highlighted China’s close ties to the world economy.
The import and export of private companies increased and their share increased.
In the first 11 months, the import and export of private companies was 13.47 trillion yuan, an increase of 11.3%, accounting for 46.4% of the total value of foreign trade, an increase of 4 points percentages with respect to the same period last year. Among them, exports were 8.95 billion yuan, an increase of 12.2% and accounted for 55.5% of the total value of exports; imports were 4.52 trillion yuan, an increase of 9.5% and accounted for 35% of the total value of imports.
“Currently, private enterprises have become the most active force in the field of foreign trade, and their share of imports and exports has continued to increase, which has played an important role in promoting the development of China’s foreign trade.” . Li Kuiwen said that Chinese companies actively participate in international competition, and their innovative vitality is constantly released. The product structure continued to be optimized and the quality of foreign trade stabilized and improved.
Sustained and stable growth still needs work
Comprehensively promote facilitation measures such as “advance declaration”, the “green channel” and exemption from on-site inspections, to improve the efficiency of customs clearance; reduce and exempt late filing fees and import delay fees, and exempt commercial processing goods from tax-deferred interest for domestic sales, to reduce and save businesses; Conduct business-to-business (B2B) cross-border e-commerce export testing; encourage the central and western regions, northeast and elsewhere to conduct commercial market acquisition tests … This year, various foreign trade stabilization policies have been continuously implemented to support market entities.
According to many experts, in the context of a sharp decline in world trade, the ability of imports and exports to grow against the trend reflects the resilience of China’s foreign trade. Among them, the implementation of various policies to stabilize foreign trade, the creation of a good business environment through reform and innovation, and the support of private micro and small enterprises have also played an important role.
At the same time, exports of clothing, shoes and handbags, etc., have declined, and there has been a trend towards differentiation between the different foreign trade industries. Li Kuiwen said that, at present, the external environment is complex and severe, and the development of foreign trade still faces many uncertainties. Sustained and stable growth still requires hard work.
In addition to continuing to promote various policies and measures to stabilize foreign trade, Bai Ming believes that the future foreign trade sector needs “double attention”: On the one hand, we must pay attention to traditional supply and demand to maintain the competitiveness of the foreign trade industry; on the other hand, we must pay attention to the epidemic situation. Keep track of new changes in the market and take advantage of new trends and consumer opportunities.
Fu Linghui, a spokesman for the National Bureau of Statistics, previously stated that, in general, the results of the prevention and control of the epidemic in China have been relatively obvious. Businesses have resumed work and production, and production operations have been re-established. Although the international situation is uncertain, China Import and export trade is still expected to be better than the overall global situation.
Li Jie
