Stabilize Orders, Expand Markets, And Create A New Situation. The Positive Trend Of Foreign Trade Continues To Consolidate.

At the beginning of 2024, foreign trade companies are actively grabbing orders, expanding markets, and striving to seize new opportunities. Facing the difficulties and challenges in foreign trade development, many departments will also launch new policies and strive to cultivate new momentum. Experts interviewed believe that relying on new driving forces, new markets, and new policies, import and export are expected to consolidate the positive momentum. With the joint efforts of many parties, my country's foreign trade is expected to open a new chapter in the changing situation.

Enterprises "fight" for orders to seize new opportunities during the peak season

Foreign trade companies are grabbing new orders at the beginning of the new year and planning new plans for 2024.

The person in charge of foreign trade of a clothing equipment industry in Zhejiang told a reporter from the Shanghai Securities News that under the general trend of personalized customization in the clothing industry, the demand for the company's products is relatively stable, with 70% exported to Southeast Asia and South Asia, and orders are scheduled until March.

"The digital printing equipment we produce produces less pollution and consumes less energy. It is a new green product. Generally speaking, the market demand is rising on a better track." The person in charge told reporters.

Chen Zhixin, deputy general manager of Shanghai Youtong International Trading Co., Ltd., told reporters: "We are a company that imports meat and agricultural products. Our main business is in Brazil. Domestic import volume is expected to grow explosively in 2024."

The series of data can also reflect the stabilizing and improving trend of foreign trade. In the first three quarters of 2023, the monthly import and export growth rates of private enterprises were higher than the overall rate. The proportion of exports of self-owned brand products by private enterprises increased to 22.7% year-on-year; cross-border e-commerce imports and exports increased by 14.4% year-on-year; the exports of "three new" products increased year-on-year. An increase of 41.7%…

There are many promising signals in the fourth quarter of 2023. Export volume in November, denominated in RMB, increased by 12% year-on-year, reaching the peak after the second quarter. In November, China's exports to the United States ended 14 months of decline and turned to growth of 9.6%. Consumer electronics such as mobile phones and home appliances have shown a clear rebound momentum. In November, the growth rate of integrated circuit imports turned positive for the first time this year.

"Excellent" policy environment helps companies stabilize orders

While the foreign trade situation is stabilizing and improving, there are also unstable factors. Since December 2023, the situation in the Red Sea has been tense, shipping prices have soared, and foreign trade companies have reported that profits are under pressure.

"The rise in shipping prices has doubled the cost, the shipping cycle has also become longer, and the instability has increased. Moreover, the market competition is fierce, and the unit price of products is low, but the cost has risen. The absolute value of profits in 2023 will be lower than the previous two years. "The foreign trade director of the above-mentioned Zhejiang company told reporters.

Li Xingqian, Director of the Department of Foreign Trade of the Ministry of Commerce, recently analyzed that foreign trade will face three major challenges in 2024, including the unpredictable trend of foreign demand, the increase in non-economic variables, and the rise of trade protectionism.

In this context, he said that in the next step, the Ministry of Commerce will continue to work with various local departments to implement various policies that have been introduced to stabilize foreign trade. At the same time, in response to the new situation and new tasks, we will study and reserve new policies and measures, promote their introduction in a timely manner, and do a good job in publicity and interpretation.

Previously, at the policy level, the "Opinions on Promoting a Stable Scale and Optimal Structure of Foreign Trade" and "Several Measures on Accelerating the Integrated Development of Foreign Trade" have been issued, and economic and trade events such as the China International Import Expo, the Service Trade Fair, the Digital Trade Fair, and the Canton Fair have also been held. , increase trade policy support and help companies stabilize orders and expand markets.

Foreign trade "stabilizes" momentum and opens up new prospects amid changes

my country's foreign trade has stabilized and the momentum of improvement is expected to continue. Ministry of Commerce spokesperson Shu Jueting said at a recent press conference that trade activity has continued to rise in recent months, external demand has shown signs of recovery, and business expectations have continued to improve. A tracking survey by the Ministry of Commerce shows that the export orders of foreign trade companies have improved for six consecutive months.

Zhao Fujun, director of the Comprehensive Research Office of the Foreign Economic Research Department of the Development Research Center of the State Council, said in an interview with reporters that there will be both opportunities and challenges for my country's foreign trade development in the first quarter of 2024. The continued consolidation and strengthening of the economic rebound and high-level opening up will provide strong support for my country's stabilization of foreign trade.

In response to the negative impact of recent tensions in the Red Sea on shipping costs, Zhao Fujun suggested accelerating the diversified development of trade channels. For example, we should accelerate the development of China-Europe freight trains and further enhance the status of China-Europe freight trains in my country's trade channels.

With the support of a series of policies, my country's foreign trade is expected to open a new chapter in the changing situation. The reporter learned that in the next step, the Ministry of Commerce will accelerate the cultivation of new formats and models of foreign trade, promote cross-border e-commerce exports, promote the expansion of the scope of the bonded repair product catalog in the comprehensive bonded zone, and support the implementation of a number of pilot bonded repair and remanufacturing projects outside the zone. Expand intermediate product trade and deepen international supply chain cooperation.