Ministry of Commerce Releases Report on China's Foreign Trade Situation (Autumn 2018)

Release time:

2018-11-16

On November 12, the General Department of the Ministry of Commerce and the Institute of International Trade and Economic Cooperation jointly released the "Report on China's Foreign Trade Situation (Autumn 2018)". The report reviews the operation of China's foreign trade in the first three quarters of 2018 and looks forward to the development trend of China's foreign trade in 2018 and 2019. In the first three quarters of 2018, China's foreign trade maintained a steady and positive trend, the growth rate was generally stable, the structure was continuously optimized, the power conversion was accelerated, and the quality and efficiency of development were steadily improved. The current Sino-US trade friction has a limited impact on China's foreign trade.

The report believes that the current international market demand is relatively stable, domestic import demand is growing steadily, and China's foreign trade has the basic conditions to maintain steady growth. Imports and exports grew rapidly in the first three quarters, providing strong support for the growth of foreign trade throughout the year. However, the high import and export base in the fourth quarter of 2017 will have a certain adverse impact on the growth rate of imports and exports in the fourth quarter of 2018.

The report pointed out that the environment facing China's foreign trade development in 2019 is more severe and complex, the downside risks of the world economy are increasing, and protectionism threatens the stable growth of global trade. At present, the fundamentals of China's foreign trade development are good, and the policy environment is constantly improving, which contains new development potential. It is necessary to implement the new concept of development, take supply-side structural reform as the main line, implement the requirements of high-quality development, promote the implementation of foreign trade policies, reduce the burden on import and export enterprises, and at the same time speed up the process of building a trade power. we will promote the "five optimizations" and "three constructions", actively cultivate new trade formats and new models, and strive to maintain the steady development and quality improvement of foreign trade.

The textile industry in the first three quarters was generally stable

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