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The head of the Foreign Trade Department of the Ministry of Commerce talks about my country's foreign trade from January to February 2018

  • Categories:Industry News
  • Author:Ministry of Commerce website
  • Origin:
  • Time of issue:2020-09-15
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The head of the Foreign Trade Department of the Ministry of Commerce talks about my country's foreign trade from January to February 2018

  • Categories:Industry News
  • Author:Ministry of Commerce website
  • Origin:
  • Time of issue:2020-09-15
  • Views:

Since the beginning of this year, the Ministry of Commerce, in conjunction with various regions and departments, has continued to implement a series of policies promulgated by the State Council to promote the development of foreign trade. Foreign trade has started well and imports and exports have achieved rapid growth. According to customs statistics, from January to February, my country’s total import and export volume was 4.52 trillion yuan, an increase of 16.7% year-on-year (the same below); of which exports were 2.44 trillion yuan, an increase of 18.0%; imports were 2.08 trillion yuan, an increase of 15.2%; surplus 362.2 billion yuan, an increase of 37.2%.

The person in charge of the Foreign Trade Department of the Ministry of Commerce pointed out that my country's foreign trade from January to February 2018 mainly showed the following characteristics:

From the perspective of commodity structure, exports of mechanical and electrical products were 1.43 trillion yuan, an increase of 18.0%, accounting for 58.4%, of which mobile phones and integrated circuits increased by 21.8% and 20.1% respectively. At the same time, the exports of seven categories of traditional labor-intensive industries such as textiles and garments also maintained rapid growth, with the export value of 492.31 billion yuan, an increase of 19.5%. In addition, the export of steel products was 9.497 million tons, a decrease of 27.1%. In terms of the import and export of bulk commodities, imports of natural gas, crude oil, refined oil, coal, iron ore, and soybeans increased by 36.7%, 10.8%, 10.0%, 14.4%, 5.4% and 5.4% respectively. The import of mechanical and electrical products was 775.94 billion yuan, an increase of 17.4%; among them, the import of metal processing machine tools, integrated circuits, and computers increased by 49.5%, 29.2%, and 15.5% respectively; and the import of automobiles was 177,000, an increase of 14.3%.

From the perspective of business entities, private enterprises exported 1.18 trillion yuan, an increase of 29.4%, accounting for 48.6%, an increase of 4.2 percentage points from the same period last year, and continuing to maintain their position as the largest export business entity. Foreign-funded enterprises exported 998.99 billion yuan, an increase of 8.7%, accounting for 41.0% of my country’s exports.

From the perspective of trade methods, general trade imports and exports were 2.65 trillion yuan, an increase of 22.0%, accounting for 58.7% of the country’s total foreign trade value, an increase of 2.5 percentage points over the same period last year.

From the perspective of the international market, China’s exports to traditional markets such as the United States, the European Union and Hong Kong increased by 20.0%, 18.1%, and 12.2% respectively; at the same time, imports and exports to emerging markets such as countries along the “Belt and Road” maintained rapid growth, similar to the “Belt and Road” initiative. The total import and export of countries along the route was 1.26 trillion yuan, an increase of 21.9%, 5.2 percentage points higher than the overall growth rate. Among them, the increase in imports and exports to Vietnam, Brazil, Russia, and India reached 48.2%, 30.4%, 29.5% and 19.5% respectively.

In the next step, we will take Xi Jinping’s thoughts on socialism with Chinese characteristics for a new era as a guide, firmly establish and implement the new development concept, and in accordance with the tasks and requirements set out in the "Government Work Report", we will intensify efforts to cultivate new trade formats and promote processing trade to China Gradient transfer and innovative development in the western region, actively expand imports, go all out to prepare for the first China International Import Expo, improve trade facilitation, promote the building of a strong trade country, and make greater contributions to national economic and social development.

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