China's foreign trade has withstood pressure and continued to stabilize. On December 7th, the General Administration of Customs of China released data showing that after both the monthly and cumulative growth rates of China's foreign trade in October turned positive, the year-on-year growth rate of imports and exports in November further expanded to 1.2%, while the cumulative growth rate remained basically the same as the same period last year.
Regarding this, Lv Daliang, Director of the Statistics and Analysis Department of the General Administration of Customs, stated that in the fourth quarter, the positive factors for China's foreign trade development continue to increase, and the total import and export value has increased year-on-year for two consecutive months, consolidating the stable and positive development trend.
Industry experts believe that under multiple pressures such as slowing overseas demand, it is not easy for the monthly growth rate of foreign trade to achieve a "four consecutive declines" to a "two consecutive increases". This is the result of the joint action of multiple factors such as trading entities, economic and trade partners, and innovation drivers.
Firstly, from the perspective of trading entities, since the beginning of this year, private enterprises, as the main force of China's foreign trade, have been continuously active in import and export, with a year-on-year growth rate better than the overall performance: import and export in the first 11 months reached 20.24 trillion yuan, a year-on-year increase of 6.1%, accounting for 53.3% of China's total import and export value, an increase of 3.1 percentage points, effectively supporting China's stable scale and excellent structure of foreign trade.
Secondly, from the perspective of economic and trade partners, while maintaining a good development trend in imports and exports to emerging markets, China's trade with some traditional markets has also undergone positive changes.
In November, China imported and exported 584.39 billion yuan, 441.66 billion yuan, and 414.9 billion yuan to its top three trading partners, ASEAN, the European Union, and the United States, respectively, accounting for 38.9% of China's total import and export value. Among them, the year-on-year growth of goods trade between China and the United States was 2.7%, ending six consecutive months of year-on-year decline; During the same period, imports and exports to the five countries of Latin America, Africa, and Central Asia increased by 9.3%, 8.4%, and 43% respectively, indicating that China continues to expand its trade scale with emerging markets, and the international market layout with close regional cooperation and diversified trade progress continues to be optimized.
In addition, the stability and improvement of foreign trade cannot be achieved without the continuous enhancement of innovation momentum. Recently, the reporter saw in the Kashgar Comprehensive Bonded Zone of Xinjiang that, thanks to the continuous optimization of regulatory services by Kashgar Customs, sedan trucks loaded with new energy vehicles are queuing up in an orderly manner to clear customs, presenting a bustling scene.
According to statistics, in the first 11 months, China's exports of automobiles and their accessories, ships, and other goods grew rapidly, with growth rates of 42.8% and 36.5%, respectively. The rapid growth in export scale of emerging industries such as electric passenger cars, solar cells, and lithium batteries has become a vivid portrayal of the accelerated upgrading of foreign trade.
Lv Daliang stated that the recent export performance of some commodities such as automobiles and mobile phones has been impressive, which not only reflects the recovery of external demand in related industries, but also fully reflects the comprehensive competitive advantage of China's manufacturing industry.
However, industry insiders also point out that currently, the unstable recovery of the world economy remains the biggest challenge facing China's foreign trade. Economic and non economic factors are intertwined, and China's foreign trade still faces considerable pressure.
In response to this situation, policies are continuously intensifying. The reporter learned that the Chinese Ministry of Commerce fully leverages the trade promotion role of exhibition platforms and increases support for enterprises to participate in domestic and foreign exhibitions; We will also promote the increase of import and export credit support, promote precise docking between banks and enterprises, increase support for small and medium-sized foreign trade enterprises, and expand the scale and coverage of export credit insurance coverage, to safeguard the development of the market for enterprises; The General Administration of Customs recently issued a reform implementation plan to promote the sustained high-quality development of processing trade, introducing 16 reform measures, innovating the customs processing trade supervision model, and continuing to consolidate and enhance the advantages of internal and external connections in processing trade
The fourth quarter is usually the peak season for foreign trade, and it is also the sprint and closing season for foreign trade throughout the year. Looking forward to the future, Lv Daliang said that, on the whole, the export trend in the fourth quarter is expected to continue to consolidate due to the awesome of policies, the efforts of enterprises and the joint efforts of all parties. According to the China Customs Trade Prosperity Statistics Survey, the proportion of enterprises reflecting an increase in export and import orders has increased, laying a more solid foundation for achieving the annual goal of promoting stability and improving quality in foreign trade.
