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China's foreign trade starts well in 2018(Shipping Company in China)


Mar 19 2018

China's foreign trade started well in 2018. According to statistics released by the Customs and Excise Department recently, China ’s imports and exports achieved rapid growth from January to February, totaling 4.52 trillion yuan, an increase of 16.7% year-on-year; of which exports were 2.44 trillion yuan, an increase of 18.0%; imports were 2.08 trillion yuan, an increase of 15.2 The surplus was 362.2 billion yuan, an increase of 37.2%.(Shipping Company in China)

The head of the Foreign Trade Department of the Ministry of Commerce pointed out yesterday that since this year, the Ministry of Commerce, together with various regions and departments, has continued to pay close attention to the implementation of a series of policies to promote foreign trade development by the State Council. Promote the gradient transfer and innovative development of processing trade to the central and western regions, actively expand imports, improve the level of trade facilitation, and promote the building of a trade power.

Statistics show that from January to February, exports of 7 major categories of traditional labor-intensive industries such as mobile phones, integrated circuits and other mechanical and electrical products, and textiles and clothing have maintained rapid growth.

Private enterprises exported 1.18 trillion yuan, accounting for 48.6%, an increase of 4.2 percentage points from the same period last year, and continued to maintain the status of the largest exporter.

From the perspective of the international market, China ’s exports to traditional markets such as the United States, the European Union, and Hong Kong have increased by 20.0%, 18.1%, and 12.2% respectively. At the same time, imports and exports to emerging markets such as the countries along the “Belt and Road” have maintained rapid growth, similar to the “Belt and Road” The total import and export of countries along the route was 1.26 trillion yuan, an increase of 21.9%, which was 5.2 percentage points higher than the overall growth rate.

Since 2017, the world economy has recovered moderately, global manufacturing production has picked up, and international trade and investment have become increasingly active. Under the combined effects of a better domestic and international situation and the development of foreign trade support policies, China's foreign trade operation has also stabilized and recovered, and the quality of trade development has continued Promotion.

 At the same time, however, factors such as intensified international trade protectionism, uncertain RMB exchange rate trends, more intense global industry competition, and large fluctuations in import and export prices will still affect foreign trade growth to a certain extent.

Minister of Commerce Zhong Shan said in an interview with the media recently that China's foreign trade "must adhere to innovation and lead the way of high-quality development." The Ministry of Commerce previously put forward the general ideas and specific measures for building a strong economy and trade and promoting the high-quality development of commerce, that is, "one goal, six main tasks and eight action plans." Before 2020, further consolidate the status of a large economic and trade power and advance the process of strengthening the economic and trade power. By 2035, the economic and trade power will be basically established. By 2050, a comprehensive economic and trade power will be built.

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