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The role of the “stabilizer” of foreign trade of private companies highlights the resilience and vitality of economic development
Macro trend
Private companies have a strong resistance to development and a high sensitivity to market risks, reflecting the great flexibility of “small boats take a turn”.
According to statistics released by the General Administration of Customs on October 13, the total value of imports and exports of China’s merchandise trade in the first three quarters was 23.12 trillion yuan, an increase of 0.7%. year-on-year, and the cumulative growth rate of foreign trade imports and exports turned positive for the first time this year.
Since the outbreak of the new corona pneumonia epidemic, that foreign trade enterprises can effectively respond to the impact of the epidemic and achieve stable growth is of vital importance to the work of the “six stability” and the full implementation of the task of the “six guarantees”. In the first three quarters of the year, foreign trade imports and exports achieved positive growth of 0.7% for the first time. An excellent response was presented with beautiful data, which also laid the foundation for meeting the annual financial control goal.
Among the 0.7% increase in foreign trade in the first three quarters, it is worth highlighting the increase in imports and exports of private companies. Data show that in the first three quarters, the import and export of private companies was 10.66 trillion yuan, an increase of 10.2%, accounting for 46.1% of the total value of China’s foreign trade , an increase of 4% over the same period last year. The increase in the share of private companies means that China has a stronger base to stabilize foreign trade.
Private companies have emerged from the market, are highly resilient to development, are highly sensitive to market risks, and can make timely operational adjustments in the face of rapid changes, reflecting the great flexibility of “small vessels and good rate changes sense”. . It is these characteristics that make private companies an important manifestation and measure of China’s economic development potential and vitality. While contributing importantly to domestic demand, private companies have now become the main import and export agency and the “stabilizer” of foreign trade, embodying the development potential of private companies and demonstrating the characteristics China’s economic resilience, wide room for maneuver, and full potential.
In the work of stabilizing foreign trade, the government has introduced a large number of policies and measures this year. Since March 20, the State Council increased the export tax relief rate for 1,464 products, and the average time to process export reliefs was reduced from 10 business days in 2019 to 8 Within business days . The latest customs data shows that through measures such as the reduction or exemption of import fees for late declaration, late fees and exemption from tax-deferred interest for domestic sales of commercial goods processing, it has been reduced or exempted and saved a total of nearly 200 million yuan for enterprises. In addition, about 70% of small and medium-sized import and export companies enjoy tariff guarantee insurance provided by the government. Strong government support measures have helped import and export companies ease financial pressures, strengthen their confidence in development, and make a positive contribution to stabilizing the fundamentals of foreign trade.
Faced with the various uncertainties and other factors caused by the epidemic, private companies have actively promoted their digital transformation, explored new business formats and new models, and have further improved their competitiveness in the market. In the first three quarters, China imported and exported 187.39 billion yuan through the customs cross-border e-commerce management platform, an increase of 52.8%, and the market procurement exports were 509.86 billion yuan, an increase of 35.5%. New forms of business and new models have become an important force in stabilizing foreign trade and in the main direction of private companies to improve their competitiveness.
According to the calculation of the monthly trade data of the main economies published by the WTO, the international market share of China’s imports and exports, exports and imports from January to July reached a record. The increase in international market share fully shows that China’s position in the division of labor in the global industrial chain supply chain is more important, China’s opening to the outside world is increasing, and the market competitiveness has significantly improved. Promoting high-level openness creates space for private companies to expand their businesses. Foreign trade data for the first three quarters showed that the import and export of general trade, which has a longer industrial chain and better reflects the level of development of the manufacturing industry, increased by 2.1%, and its share increased by 0.8 percentage points compared to the same period last year at 60.2%. In addition, the industrial chain and the supply chain of consumer electronics have obvious advantages. In the first three quarters, exports of “domestic economy” commodities such as laptops, tablets and home appliances reached 880.8 billion yuan, an increase of 17.8%. In these beautiful import and export data, private companies have contributed a force that cannot be ignored.
□ Muding (financial commentator)
