The Three Major Supporting Forces Of China'S Foreign Trade Are Highlighted And Six Aspects Are Achieved To Promote Stability And Improve Quality.
The three major supporting forces of key products, new business formats and friend circles support the continued recovery of my country's foreign trade.
·The Central Economic Work Conference delivered two new signals for my country's foreign trade development next year: on the one hand, more emphasis will be placed on cultivating new drivers of foreign trade and new business formats; on the other hand, more emphasis will be placed on improving the comprehensive competitiveness of foreign trade.
·Generally speaking, my country's exports remain stable in scale and structurally superior, and my country's position as the chain leader in the global industrial chain and supply chain is irreplaceable.
·China has become synonymous with the world's best trading partner and investment destination. The next "China" will still be China.
Next year marks the 75th anniversary of the founding of the People's Republic of China. It is a critical year for the implementation of the "14th Five-Year Plan". Doing a good job in economic work is of great significance. The Central Economic Work Conference held recently deployed nine key tasks, among which "expanding high-level opening-up" was among them, emphasizing "accelerating the cultivation of new momentum for foreign trade and consolidating the fundamentals of foreign trade and foreign investment."
A few days ago, Jin Ruiting, director and researcher of the Institute of Foreign Economics of the National Development and Reform Commission, was a guest on the "China Economic Micro-Observation·Expert Talk" column and said that my country's export characteristics of stable scale and sustained excellent structure have not changed. my country's position in the global industrial chain and supply chain has not changed. The status of the chain owner is irreplaceable, and the fact that "China is the source of power and stability for global economic growth" will not change.
Three major supporting forces support the continued recovery of my country's foreign trade
The General Administration of Customs recently released data showing that in the first 11 months of this year, my country's total import and export value was 37.96 trillion yuan, which was the same as the same period last year. Entering the fourth quarter, positive factors for my country's foreign trade development continue to increase. Imports and exports have increased year-on-year for two consecutive months, and the stable and positive development trend continues to consolidate.
Jin Ruiting said that there are three major supporting forces supporting the continued recovery of my country's foreign trade:
The first is key product support. Driven by industrial transformation and upgrading, many products have withstood the pressure of weakening external demand and achieved outstanding export performance. In the first 11 months, my country exported 12.66 trillion yuan in mechanical and electrical products. Among them, the export performance of automobiles and ships was particularly eye-catching, with year-on-year growth of 79.6% and 36.5% respectively. The "three new" products represented by electric passenger vehicles, lithium batteries, and solar cells have shown strong growth momentum in my country's foreign trade exports, bringing new vitality to the development of my country's manufacturing industry and foreign trade.
The second is support for new business formats. As a representative of my country's new international trade format, cross-border e-commerce has developed rapidly, large-scale, and has sufficient stamina in recent years. It has gradually transformed from a "new foreign trade format" to a "new normal for foreign trade." In the first three quarters, my country's cross-border e-commerce import and export volume reached 1.7 trillion yuan, a year-on-year increase of 14.4%, accounting for 5.5% of the import and export of goods trade in the same period, creating favorable conditions for the improvement and expansion of my country's foreign trade. With the rapid development of digital trade, new business formats represented by cross-border e-commerce will surely usher in greater development opportunities.
The third is the support of the circle of friends. With the combined efforts of jointly building the "Belt and Road" with high quality, implementing the free trade pilot zone promotion strategy, and expanding the global high-standard free trade zone network, my country's foreign trade "circle of friends" is also constantly expanding. In the first 11 months, the total value of my country's imports and exports to countries co-building the "Belt and Road" was 17.65 trillion yuan, an increase of 2.6%; of which, exports were 9.70 trillion yuan, an increase of 6.9%. Especially as the Regional Comprehensive Economic Partnership (RCEP) enters a new stage of full implementation, trade with RCEP member states will also become an important guarantee for my country's foreign trade.
New signals for foreign trade development continue to be released
Foreign trade is an important part of my country's open economy and an important driving force for the development of the national economy. It is a key hub for smooth domestic and international dual cycles and plays an important supporting role in stabilizing expectations, stabilizing growth, and stabilizing employment.
In the first 11 months of this year, my country's foreign trade faced difficulties, reaching nearly 38 trillion yuan, or 5.4 trillion U.S. dollars in U.S. dollars. Jin Ruiting said that this achievement was achieved in the context of a severe and complex international environment and insufficient domestic effective demand, and was hard-won.
The Central Economic Work Conference mentioned that "accelerate the cultivation of new momentum for foreign trade and consolidate the basics of foreign trade and foreign investment" and "expand cross-border e-commerce exports."
In Jin Ruiting's view, new signals for foreign trade development are mainly reflected in the following two aspects: On the one hand, more emphasis will be placed on cultivating new drivers of foreign trade and new business formats. In recent years, the "three new things" represented by electric passenger vehicles, lithium batteries, and solar cells have gradually become new driving forces for my country's foreign trade. In the first three quarters of this year, my country's "three new" products exported a total of nearly 800 billion yuan, a year-on-year increase of more than 40%, accounting for 4.5% of my country's exports. "In the new year, we will continue to increase the cultivation of new drivers and new business formats for foreign trade, so that they can further play a more active role in consolidating the fundamentals of foreign trade and foreign investment."
On the other hand, more emphasis will be placed on improving the comprehensive competitiveness of my country's foreign trade. The Central Economic Work Conference mentioned the need to "expand intermediate goods trade, service trade, and digital trade exports." Jin Ruiting believes that in the current international trade environment, strong "intermediate trade, service trade, and digital trade" are important manifestations of a country's comprehensive foreign trade competitiveness.
Specifically, trade in intermediate goods is deeply embedded in the global value chain, and "expanding trade in intermediate goods" sends a clear signal that my country will further consolidate and strengthen cooperation in international industrial and supply chains; the added value of my country's service industry accounts for 10% of its GDP. The proportion has exceeded 55%, and there is huge room for development of service trade. "Expanding service trade" means that our country will promote the balanced, coordinated and sustainable development of trade, and inject new vitality into high-level opening up by stimulating the endogenous momentum of service trade; digital trade is our country's One of the three pillars of a strong trade power, "expanding digital trade" means that my country will actively align with international high-standard digital trade rules and focus on deepening reform and innovation in three key areas: cross-border data flow, digital technology application, and data openness and sharing. Digital Trade will usher in a "golden age".
Six aspects to achieve stable and quality improvement of my country's foreign trade
"From the perspective of scale improvement, the stable and positive trend of foreign trade has been further consolidated. From the perspective of structural optimization, the proportion of my country's exports of high value-added products continues to increase." Jin Ruiting said that since the beginning of this year, with the continued advancement of the strategy of expanding domestic demand and a series of measures to stabilize foreign trade With the introduction of policies to stabilize foreign investment, my country's foreign trade has withstood the pressure of multiple unexpected factors at home and abroad, achieved new results in stabilizing scale and optimizing structure, and demonstrated the strong resilience and vitality that a very large market should have.
"In the next step, our country will build on its advantages, accelerate the formation of policy synergies, and make every effort to promote stability and improve the quality of foreign trade." Jin Ruiting said that specifically, we can focus on the following six aspects: First, speed up the implementation of detailed and stable foreign trade policies. Give full play to the comprehensive effect of stabilizing foreign trade policies, and implement detailed supporting policies around the specific issues that foreign trade enterprises are concerned about.
The second is to effectively reduce the costs of export-oriented enterprises. On the basis of accelerating the implementation of various tax and fee reduction policies, we will strengthen employment, energy use, logistics and other guarantees.
Third, actively promote the development of new foreign trade formats. Integrate the strengths of all parties to help cross-border e-commerce companies explore overseas markets. Encourage overseas warehouse companies to optimize resource allocation and support their transformation towards digitalization and intelligence. Promote the integrated development of market procurement trade, cross-border e-commerce, and foreign trade comprehensive services.
The fourth is to strengthen and stabilize the foundation of the foreign trade industry. Highlight regional characteristics, improve the quality of export products and services, and create a number of high-energy open platforms. Expand general trade exports and high value-added commodity exports, and strengthen brand, quality and channel construction.
Fifth, proactively expand imports. Give full play to the advantages of ultra-large-scale markets and strong production capabilities, increase imports of high-quality products from various countries, and expand import channels for advanced technologies, important equipment, key parts and components, and important energy resources. By strengthening the connection and integration of rules and systems and promoting the connection of market channels, we will accelerate the integrated development of domestic and foreign trade.
Sixth, close cooperation with global trading partners. Implement the Regional Comprehensive Economic Partnership (RCEP) with high quality, gradually expand the network of high-standard free trade zones around the world, and actively promote joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Digital Economy Partnership Agreement 》(DEPA). In the new golden decade, we will work hard and achieve long-term results to solidly promote the high-quality development of the Belt and Road Initiative.
Jin Ruiting also said that as the world's second largest economy, largest industrial country, and largest trader of goods, my country has a population of more than 1.4 billion, a per capita GDP of more than 12,000 US dollars, and a middle-income group of more than 400 million people. It has the world's most complete industrial system and the domestic demand market with the greatest potential, and its foreign trade has strong resilience, great potential, vitality and wide room for maneuver. China has become synonymous with the world's best trading partner and investment destination. The next "China" will still be China.