The Ministry of Commerce is formulating new policies to deal with foreign trade

China's foreign trade imports and exports in July reached 2.93 trillion yuan, a record high this year. However, the Ministry of Commerce stated that the foreign trade situation in the second half of the year will become more severe and complex and will increase policy support.

Exports surged by 10.4% in July

The data released by the General Administration of Customs on August 7 showed that in July, China’s foreign trade imports and exports amounted to 2.93 trillion yuan, an increase of 6.5%, setting a new high for the year; among them, exports were 1.69 trillion yuan, an increase of 10.4%, which was also the highest for the year. Points; imports were 1.24 trillion yuan, an increase of 1.6%; the trade surplus was 442.23 billion yuan, an increase of 45.9%.

Experts pointed out that the continuous improvement of China’s foreign trade has benefited from the recovery of the international market, and Southeast Asia, Japan, South Korea, and Europe have successively controlled the epidemic and restarted the economy; on the other hand, thanks to China’s successive measures to stabilize foreign trade, China has taken the lead. To achieve the resumption of production and production in the entire industry chain, some foreign trade companies have the need to hurry up after the order is delayed. In addition, during the epidemic, textiles such as masks, and mechanical and electrical products such as ventilators also experienced growth against the trend.

It is worth noting that among China’s major trading partners, the EU, ASEAN, Japan and South Korea have all maintained positive growth. Only Sino-US trade has experienced a 3.3% decline. The interviewed experts believe that this is because the US epidemic is still serious. Economic restart is hindered; on the other hand, the continuous suppression of Chinese companies by the United States has added more uncertainties to Sino-US trade.

From the perspective of commodity structure, in the first seven months, China exported 5.5 trillion yuan of mechanical and electrical products, an increase of 0.2%, accounting for 58.5% of the total export value. Among them, the export of automatic data processing equipment and its parts was 770.7 billion yuan, an increase of 6%; mobile phones were 419.54 billion yuan, an increase of 6.5%.

During the same period, China’s exports of textiles, including masks, were 634.32 billion yuan, an increase of 35.8%, an increase of 3.4 percentage points over the previous six months; clothing was 467.6 billion yuan, a decrease of 13.8%; plastic products were 298.9 billion yuan, an increase of 11.5%; furniture was 19,682 million yuan. Yuan, down 2.6%; shoes and boots 128.22 billion yuan, down 26.7%; toys, 99.5 billion yuan, down 2.4%; luggage, 76.6 billion yuan, down 26.7%. In addition, 32.88 million tons of steel products were exported, a decrease of 17.6%; and 520,000 automobiles, a decrease of 25.9%.


The foreign trade situation in the second half of the year is more severe and complicated. The Ministry of Commerce: Increase policy support

Zhong Shan, Minister of Commerce of China, recently stated that the situation facing China's foreign trade in the second half of the year will be more complicated and severe and will increase policy support.

At present, China's foreign trade is gradually stabilizing. According to official data, China's exports in July increased by 10.4% year-on-year, and the growth rate hit a 17-month high. From January to July, China's total import and export value fell by 1.7% year-on-year, and the rate of decline narrowed by 1.5 percentage points from the first half of the year.

In an interview with the media, Zhong Shan pointed out that in the second half of the year, the impact of the global economic downturn on demand will become more apparent, the supply chain of the industrial chain will be blocked, the trend of protectionism and anti-globalization will continue to heat up, and foreign trade companies will still face great pressure to survive. Efforts should be made to stabilize the main body of foreign trade, stabilize the supply chain of the industrial chain, and stabilize the status of a global trading country.

He said that he will increase policy support and promote the introduction and implementation of a series of stabilization and relief policies such as export tax rebates, foreign trade credit, export credit insurance, and export to domestic sales, so that the policies will benefit more foreign trade companies. In addition, it will also support the development of new trade formats and models, and accelerate the implementation of the newly established e-commerce comprehensive pilot zone.

Speaking of the situation of attracting foreign investment, Zhong Shan said frankly that under the impact of the epidemic, global cross-border investment has shrunk sharply. Some countries have encouraged industries to return, and international competition for investment has intensified. The pressure on China's industry to transfer abroad has increased and the use of foreign investment has become more difficult.

He said that in the second half of the year, the focus will be on stabilizing the stock of foreign capital, expanding the increase in foreign capital, and maintaining the status of a major country in the use of foreign capital.

At present, the national negative list of foreign investment access has been reduced from 40 to 33. Zhong Shan said that in the future, efforts will be made to implement the list and at the same time promote the expansion of the scope of pilot openings in the service industry. Revise the catalog of industries that encourage foreign investment to encourage more foreign businessmen to invest in the central and western regions and old industrial bases in the northeast.

In addition, in the second half of the year, the Ministry of Commerce will issue a negative list of cross-border service trade, implement the Foreign Investment Law and supporting regulations, protect the legitimate rights and interests of foreign businessmen, protect intellectual property rights, and create a stable, fair and transparent business environment.

Zhong Shan said that China has a huge market of 1.4 billion people and a complete industrial supporting system, and the business environment is constantly improving. "I believe smart foreign businessmen will not abandon the Chinese market."