Since 2019, domestic and foreign risks and challenges have increased significantly. Under the strong leadership of the Party Central Committee with Comrade Xi Jinping as the core, the Ministry of Commerce, in conjunction with various departments and localities, resolutely implements and stabilizes the deployment of foreign trade work, improves policies and measures, promotes trade structure optimization, cultivates new business models and new models of foreign trade, actively expands imports, and steadily Promoting the high-quality development of trade, various tasks have achieved positive results. China's foreign trade growth bucked the trend and handed in a qualified answer sheet, successfully completing the goal of stabilizing and improving quality set by the "Government Work Report". In general, China's foreign trade presents 5 new characteristics:
First, the scale of trade and international market share both reached a new level. The total annual import and export volume was 31.54 trillion yuan, an increase of 3.4%. Among them, exports were 17.23 trillion yuan, an increase of 5.0%, imports were 14.31 trillion yuan, an increase of 1.6%, and the scale of imports and exports, exports and imports all hit record highs. It needs to be pointed out that China’s export share in the international market has steadily increased. According to the latest WTO statistics, in the first three quarters, China’s export growth rate was 2.8 percentage points higher than that of the global market, and the international market share increased by 0.3 percentage points from 2018 to 13.1%.
Second, new progress has been made in the improvement of trade quality and structural optimization. The layout of the international market was significantly optimized. Imports and exports with the “Belt and Road” countries increased by 10.8%, and their share increased by 2 percentage points to 29.4%. Imports and exports to the EU, ASEAN, Latin America and Africa increased by 8%, 14.1%, 8% and 6.8% respectively. The domestic regional layout is more reasonable, with exports from the central and western regions accounting for 18.3%. Among them, processing trade exports accounted for nearly 23% of the central and western regions, and the transfer of processing trade industries has achieved positive results. The commodity structure has been continuously upgraded. The export of mechanical and electrical products accounted for 58.4%, and the export of high-quality, high-tech and high value-added products such as integrated circuits and automobiles increased by 25.3% and 8.2% respectively. The contribution of general trade increased, and the proportion of exports increased by 1.5 percentage points to 57.8%, which enhanced the value of the industrial chain and trade competitiveness. All kinds of business entities are full of vitality. Foreign-funded enterprises account for 39.9% of imports and exports, and continue to be the backbone; private enterprises account for 43.3% of imports and exports, becoming the new main force for foreign trade development.
Third, the ability to innovate in trade continues to increase, and new advantages in foreign trade competition are being formed. Technological innovation, institutional innovation, model and business model innovation have been continuously strengthened, and new business models and new models have become new drivers of foreign trade growth. 24 newly established cross-border e-commerce comprehensive test areas, cross-border e-commerce retail and market procurement trade exports accounted for 3.5%, the number of overseas warehouses exceeded 1,000, and first trial 8 processing trade bonded maintenance projects, supporting 10 provinces The city has carried out pilot projects for the export of second-hand cars and realized batch export. The role of foreign trade in leading and promoting industrial upgrading has become more prominent. More and more companies have increased R&D investment, continued innovation, and their ability to independently explore diversified markets has been significantly enhanced, and international competitiveness has continued to improve.
The fourth is to make new contributions to national economic and social development. As one of the "troikas", foreign trade provides a strong impetus for the overall situation of stable growth. In the first three quarters, net exports of goods and services contributed 19.6% to GDP growth. About 180 million people are employed by foreign trade, and import taxes contribute 11.6% of the country's total tax revenue. The trade surplus in goods was US$421.51 billion, an increase of 19.8%. It was an important source of the current account surplus and effectively guaranteed the balance of international payments. The expansion of imports has promoted the rational allocation of resources on a global scale, optimized the domestic supply system, improved the level of export products and services, and met the needs of the people for a better life.
The fifth is to inject new vitality into global economic recovery and trade growth. China has taken the initiative to open its market to the world and has become the world's second largest import market for 11 consecutive years, with imports accounting for more than 10% of the world's total imports. Since the international financial crisis, China's imports have contributed one-sixth of the increase in global imports, and have been a booster and stabilizer for the global economic recovery. At the same time, the rapid development of foreign trade has promoted the integration of China’s economy with the world economy. China is already a major trading partner of more than 120 countries and regions, and its economic and trade ties and mutually beneficial exchanges with countries around the world have become closer and closer. It is in global economic governance and multilateral and bilateral economic and trade cooperation. It is becoming more and more important to play a role.
In the next step, we will take Xi Jinping’s Thoughts on Socialism with Chinese Characteristics for a New Era as a guide, fully implement the central government’s deployment of stabilizing foreign trade, take high-quality trade development as the guide, and pay close attention to policy implementation. It is necessary to vigorously cultivate new forms and models of trade, support the innovative development of border trade, actively expand imports, reduce comprehensive trade costs, improve trade facilitation, promote stability and quality improvement of foreign trade, and help China build a well-off society in an all-round way, and contribute to the recovery of the world economy. Make a positive contribution to trade growth.