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Basic Situation Of China Foreign Trade From January To November 2020

Dec 09, 2020

This year, novel coronavirus pneumonia has brought severe challenges to China's foreign trade development. Under the firm leadership of the CPC Central Committee, the Ministry of Commerce has promptly promoted a series of policies and measures for stabilizing foreign trade, and has made precise policies in protecting foreign trade entities, protecting market share, ensuring export orders, and ensuring the stability of supply chain in industrial chain, so as to help enterprises to relieve themselves. The government, industry and enterprises have formed a strong joint force, and the import and export have stabilized rapidly and continued to improve, showing the strong toughness and comprehensive competitiveness of China's foreign trade.

First, the scale of China's import and export reached a record high in the same period.

From January to November, the total import and export volume reached 29.04 trillion yuan, an increase of 1.8%. In terms of US dollars, imports and exports reached US $4.17 trillion, an increase of 0.6%, and the growth rate turned positive for the first time. With the further expansion of China's foreign trade scale, the international market share has further increased.

Second, under the difficulties and pressures, China's foreign trade industry innovation ability has been continuously enhanced.

The export of general trade mode in the eastern region continued to expand, and the ability of independent development was further enhanced. The export-oriented economy in the central and western regions has accelerated, the export growth rate is higher than that of the whole, and the industrial competitiveness has been significantly improved.

China's foreign trade enterprises are facing difficulties, growing vigorously under market pressure, and the scale of foreign trade entities is growing. The export of private enterprises increased by 12.2%, increasing the overall growth rate by 6.2%.

China's export products continue to climb up the value chain. The export share of mechanical and electrical products increased to 59.3%. The export of high-tech and high-value-added products such as integrated circuits, computers and medical devices was strong, with growth rates of 14.8%, 10.7% and 44.5% respectively.

With the rapid development of new forms and modes of foreign trade, the business environment has been continuously optimized. The rapid growth of cross-border e-commerce and market procurement trade mode export has played an important role in effectively connecting domestic and international markets and stimulating the vitality of small, medium and micro foreign trade entities.

Third, China's foreign trade has made important contributions to promoting the recovery of world economy and trade.

We have taken practical actions to deepen international cooperation in epidemic prevention and control, export epidemic prevention materials to more than 200 countries and regions as much as we can, and promote the construction of a human health community. China's production order was rapidly restored to meet the needs of people from all over the world to live and work during the epidemic, and promote the stable operation of the international industrial chain supply chain. China's import share in the world rose by 0.8 percentage points, injecting vitality into world economic and trade cooperation.

We have noted that the international market demand has shown positive signs of recovery recently. The world trade organization, the economic cooperation organization and other international organizations have raised their forecasts of Global trade and economic growth, but there is still a process from rebound to recovery. The epidemic of novel coronavirus pneumonia is still spreading all over the world, and international demand is still constrained. Foreign trade development is facing many uncertain and unstable factors. We will closely focus on building a new development pattern, promote innovative development of foreign trade, firmly support the multilateral trade system, oppose trade protectionism, and more actively integrate into the global economic cycle. We look forward to working with all trading partners to maintain a good international trade environment, ensure smooth international logistics, maintain the stability of the industrial chain and supply chain, and jointly promote the early recovery of World Trade and economic prosperity.