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Strong recovery of foreign trade! In July, imports and exports grew "double positive" again.

Strong recovery of foreign trade! In July, imports and exports grew "double positive" again.

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  • Time of issue:2020-08-11 13:42
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【Summary】:Li Kuiwen, director of the statistical analysis department of the General Administration of customs, said that in the first seven months of this year, China's total import and export value of goods tr

Strong recovery of foreign trade! In July, imports and exports grew "double positive" again.

【Summary】:Li Kuiwen, director of the statistical analysis department of the General Administration of customs, said that in the first seven months of this year, China's total import and export value of goods tr

  • Categories:Industry News
  • Author:
  • Origin:
  • Time of issue:2020-08-11 13:42
  • Views:0
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Li Kuiwen, director of the statistical analysis department of the General Administration of customs, said that in the first seven months of this year, China's total import and export value of goods trade was 17.16 trillion yuan, 1.7% lower than that of the same period last year, and the decline rate was 1.5% narrower than that in the first half of the year. In July, China's foreign trade import and export reached 2.93 trillion yuan, up 6.5% year on year. Among them, exports were 1.69 trillion yuan, an increase of 10.4%; imports were 1.24 trillion yuan, an increase of 1.6%; imports and exports both achieved positive growth again after June.

Li Kuiwen: This is mainly due to the great achievements made in the overall prevention and control of epidemic situation and economic and social development in China, which fully reflects the strong resilience of China's economy, and the increasing positive factors supporting the development of foreign trade, which effectively promotes the stability of foreign trade.

In the first seven months of this year, China's import and export to ASEAN, EU and Japan increased, while that to the United States decreased. Among them, the total trade value between China and ASEAN was 2.51 trillion yuan, an increase of 6.6%, ASEAN continued to maintain China's largest trading partner, while the total value of Sino US trade was 2.03 trillion yuan, down 3.3%. However, according to Li Kui Wen, looking at the foreign trade data in July, China's imports and exports to its major trading partners have achieved positive growth. With China taking the lead in resuming production, Europe and the United States and other developed economies have been gradually unsealed and restarted. In July, China's import and export with ASEAN, EU, the United States, Japan, South Korea and other major trading partners achieved positive growth.

"One belt, one road" has increased the proportion of foreign trade in the countries along the border.

In addition, one belt, one road, and the other countries along the way in the first 7 months of the year, together with 5 trillion and 30 billion yuan, accounted for 29.3% of China's foreign trade, which accounted for a further increase. Li Kuiwen: one belt, one road, one belt, one road, and the other two countries still maintain the momentum of development under the impact of the epidemic situation. This shows that China's cooperation with the countries along the "belt and road" will help to stabilize the international supply chain and China's foreign trade basic plate.

The import and export of foreign-invested enterprises gradually recovered

It is worth noting that the import and export growth of private enterprises has further increased. In the first seven months, the import and export of private enterprises increased by 7.2%, accounting for 45.6% of China's total foreign trade value, an increase of 3.8 percentage points over the same period last year, and continued to maintain the leading position. And the import and export of foreign-invested enterprises are also gradually recovering. Li Kuiwen: in July, the import and export of foreign-invested enterprises reached 1.1 trillion yuan, a year-on-year increase of 1.7%. For the first time, both imports and exports increased positively in the year. All these indicate that the policy effect of stimulating the vitality of market players in our country continues to release, and the majority of foreign trade enterprises can not only look for new opportunities in the crisis, but also achieve greater development.

Policy support, China's export pressure is expected to ease

In recent years, the central ministries and commissions and local governments have been studying and deploying work to further expand opening up, stabilize foreign trade and stabilize foreign investment.

According to Gao Feng, a spokesman for the Ministry of Commerce, the Ministry of Commerce will promote the introduction of a number of new policies and measures, including giving better play to the role of export credit insurance to protect foreign trade entities; reducing the financing threshold and financing cost of enterprises through "credit insurance + guarantee"; and supporting enterprises to grasp orders and expand markets in an all-round way.

Peak: expand the online channels of foreign trade, support the development of cross-border e-commerce, overseas warehouses, foreign trade comprehensive service enterprises and other new formats, expand the market procurement trade mode pilot, and drive the export of small and medium-sized enterprises.

Tang Jianwei, chief researcher of the financial research center of Bank of communications, believes that with the gradual repair of foreign demand, China's export pressure is expected to ease.

"The second quarter may be the low point of the global economy, and the situation of foreign demand is expected to gradually repair to ease the pressure on China's export. Of course, we should also pay attention to whether the epidemic situation will be repeated. It is also a necessary means to deal with the change of external environment. In the future, import and export will certainly be an important part of the dual cycle, but more likely, we will have to rely on the domestic market to boost domestic demand. "

Reprinted to: cctv world finance and Economics

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