China's foreign trade situation continues to improve
With the repeated epidemics and normalization of epidemic prevention activities, the economic activities of various countries have been greatly affected, and the prospects for the recovery of the world economy are likely to be lower than expected. However, it is worth noting that despite the severe challenges, the fundamentals of China's continued improvement in foreign trade have not changed, which has clearly exceeded expectations. According to the data released by SIPG, the container throughput of Shanghai Port will reach 43.5 million TEUs in 2020, a record high, ranking first in the world for 11 consecutive years, fully demonstrating China's strong foreign trade.
Foreign trade stabilized and improved, overall better than expected
In 2020, my country's foreign trade situation is significantly better than expected at the beginning of the year. According to the “Report on China’s Foreign Trade Situation” released by the Ministry of Commerce in the fall and data released by the General Administration of Customs, the volume of import and export trade began to pick up since March after a sharp decline in the impact of the epidemic in January and February 2020. Positive growth occurred in June. After entering the third quarter of 2020, the scale of foreign trade has expanded significantly, and the overall scale of imports and exports in the first three quarters hit a new high over the same period. As of November last year, the total import and export volume was 29.04 trillion yuan, a year-on-year increase of 1.8%, and the growth rate turned positive for the first time.
The substantial increase in exports and the increase in the proportion of imports and exports in global trade are two highlights of China's foreign trade this year. Among them, export growth greatly exceeded initial expectations. In the first 11 months of 2020, the export growth rate in US dollars increased by 2.5% year-on-year, and the export growth rate in November was as high as 21.1%, the highest since 1981. Record. In the context of the continued global economic downturn, China’s foreign trade has achieved such a “brilliant record” mainly from two aspects. On the one hand, some countries and regions have suspended production and production. China is the only major trading partner that can maintain normal production activities. The substitution effect played an important role; on the other hand, the demand for epidemic prevention materials and daily necessities surged during the epidemic prevention and control period.
From the perspective of the proportion of global trade, China's import and export scale has further increased as a proportion of global trade. According to information released by the Ministry of Commerce, in the first half of last year, my country’s export growth rate was 7.8 percentage points higher than the global average, and the international market share increased by more than 1 percentage point compared with the same period in 2019, setting a record for the same period in history. In December 2020, the head of the Foreign Trade Department of the Ministry of Commerce delivered a speech, stating that my country's import share in the world has increased by 0.8%, making an important contribution to world economic and trade cooperation.
Large-scale international economic and trade exhibitions are fruitful
The Service Trade Fair "boosts confidence." The China International Trade in Services Fair will be held at the Beijing National Convention Center in September 2020. With the theme of "Global Service, Mutual Benefit and Sharing", the exhibition attracted 22,000 companies and institutions from 148 countries and regions through online and offline dual platforms, and held 190 forums and negotiation activities, covering service trade. A total of 240 agreements and agreements were signed in all 12 areas. The exhibition is the first large-scale international economic and trade exhibition held by my country under the challenge of the new crown epidemic. Its holding has boosted the confidence of the service trade market and conveyed China’s willingness to open up and deepen cooperation with countries around the world. In order to promote technological innovation, Working together to lead the world economic recovery has made important contributions.
The Canton Fair "shows a brilliant future." The 128th China Import and Export Fair was successfully held in October 2020 through both online and offline platforms, attracting buyers from 226 countries and regions to register for the exhibition, and 26,000 exhibitors at home and abroad. The accelerated emergence of new products and new technologies at the Canton Fair has played a stimulating and demonstrative role in driving the high-quality development of foreign trade. The number of smart product declarations increased by 20,000 compared with the previous session, and the construction of Internet platforms and network marketing systems have been further improved perfect.
The CIIE is "the better the better." In November 2020, the third China International Import Expo was held in Shanghai. The exhibition also set up two online and offline platforms, and for the first time set up new exhibition areas for public health and non-banking finance. As an international economic and trade event with the largest scale and the largest number of participating countries in China under the background of normalization of epidemic prevention and control, as of the evening of November 7, the third CIIE has attracted a total of 674 companies from 64 countries and regions. Exhibitors and 1351 buyers participated in the conference and reached 861 cooperation intentions, fully demonstrating the vigorous vitality of the Chinese market and reflecting the expectations and high praise given by the international business community to the Chinese economy.
Broad prospects for development
First, the advantages of the system guarantee the continued improvement of the domestic economy. In the context of the difficult recovery of the global economy, China's economy still maintains its inherent resilience and vitality. Institutional advantages and efficient governance capabilities have laid the foundation for higher-quality development and higher levels of openness. The "Implementation Opinions on Promoting the Innovative Development of Foreign Trade", "Special Administrative Measures for Foreign Investment Access (Negative List)", and "Special Administrative Measures for Foreign Investment Access (Negative List) in Pilot Free Trade Zones" and other documents issued this year show that China's The determination and willingness of institutional innovation to create a high-quality business environment, the construction of the Hainan Free Trade Port, the signing of the regional comprehensive economic partnership agreement, and the successful conclusion of the China-EU BIT negotiation have provided institutional guarantees for the deepening of cooperation between China and its trading partners.
Second, the stability of the industrial chain has gradually improved. The global value chain and industrial chain have been greatly impacted by the new crown pneumonia epidemic, and are facing the risk of fracture and restructuring, which also exposed the deficiencies in the layout and structure of China's industrial chain. Under the general trend of shrinking and localization of the global value chain, "Made in China" is facing numerous difficulties, but at the same time it is also facing important opportunities for industrial chain upgrades and high-quality development. As the only country in the world that has all the industrial categories in the United Nations Industrial Classification, China has inherent advantages in improving the structure of the industrial chain, promoting the localization and autonomy of core components, and enhancing the stability of production links and the ability to resist risks. It has huge local consumption. The market and open business environment have also created conditions for the establishment of a new development pattern of international and domestic dual cycles, and provided an important development opportunity for "Made in China" to rise from the low-end to the high-end of the value chain.
Third, the digital economy industry is rejuvenated. As the possibility of new coronary pneumonia as a normalized epidemic has increased, people's lifestyles and consumption patterns have changed, global trade in goods has continued to shrink, and traditional service trade industries have been severely impacted. From January to September 2020, my country’s total imports and exports in the three traditional service trade areas of travel, construction, and transportation totaled 1,177.2 billion yuan, a decrease of 21.1%. At the same time, knowledge represented by cloud computing, artificial intelligence and 5G Intensive service industries have emerged at this time. The total trade volume from January to September was 1,493.08 billion yuan, an increase of 9.0%, accounting for 44% of the total service trade import and export. Service industries such as medical care, education, and telecommuting have performed gratifyingly during the epidemic, breaking through the constraints of space and time, meeting consumer needs more humanely, and providing unprecedented opportunities for traditional enterprises to achieve industrial transformation and upgrading. To create new economic growth points. At the same time, the development of digital information technology also helps to break through the policy barriers and regulatory bottlenecks in the development of the service industry, and provides technical support for my country to further open the service industry market.