What is the Effectiveness of China's Foreign Trade Diversification Strategy? China's Foreign Trade Situation Report (Spring 2019)

Release time:

2019-06-06

The report reviews the overall situation of China's foreign trade operation in 2018 and the first quarter of 2019, and analyzes the development environment of China's foreign trade in 2019.

Recently, the General Department of the Ministry of Commerce and the Institute of International Trade and Economic Cooperation jointly issued 《Report on China's Foreign Trade Situation (Spring 2019)(hereinafter referred to as the Report).

The report reviewsOverall situation of China's foreign trade operation in the whole year of 2018 and the first quarter of 2019, analyzedChina's Foreign Trade Development Environment in 2019.

In 2018, in the face of the complex domestic and international situation, especially the severe challenges of Sino-US economic and trade frictions, my country's foreign trade throughout the year has made steady progress and improved steadily, and its quality and efficiency have been further improved. The status of the second largest country in trade in goods and services has been consolidated, and the process of building a strong trading country has accelerated.

In the first quarter of 2019, my country's exports of labor-intensive products grew simultaneously, and the structure of export commodities continued to be optimized. While consolidating traditional export competitive advantages, China continued to cultivate new export competitive advantages, high-quality, high-tech, high-value-added, independent intellectual property rights And the export of independent brand products maintained growth. among them,Exports of seven categories of labor-intensive products, such as clothing and toys, totaled 685.53 billion billion yuan, an increase of 6.5 percent over the same period last year, accounting for 18.2 percent of the total exports.

In the first quarter of 2019, China's foreign trade development market diversification strategy has achieved remarkable results.

Specifically, imports and exports to the EU, ASEAN, and Japan increased year-on-year in the first quarter.11.5%、8.1%and3.2%, respectively, accounting for total imports and exports over the same period.15.8%、13.3%and7.2%. Imports and exports to countries along the "the belt and road initiative" increased year-on-year.7.8%Higher than the overall growth rate of foreign trade in the same period.4.1 percentage points, accounting for total imports and exports28.6%Increase over the same period last year.1.1 percentage points. Among them, imports and exports to Saudi Arabia, Egypt and Russia increased respectively.33.8%,18.3%and9.6%. Imports and exports to Latin America and Africa increased year-on-year, respectively.15.8%and7.6%, respectively, accounting for total imports and exports.7.0%and4.6%Elevating, respectively.0.7 and 0.1 percentage points. Imports and exports to the United States year-on-yearDecreased by 11.0 percent, accounting for total imports and exports11.6%. Among them, exports and imports to the United States fell respectively.3.7 and 28.3 percent.

according to the report,Since 2019, the foundation for the high-quality development of China's foreign trade has been further consolidated, the supporting conditions have become more mature, the structure of foreign trade has been continuously optimized, and the endogenous power has continued to increase, but the environment for foreign trade development has become more complex, more uncertain, and more risky and challenging.

From an international point of view, the weakening of the momentum of world economic growth, the decline of global market demand, and the rise of trade protectionism have aggravated the uncertainty of the external market; from a domestic point of view, the development of foreign trade is facing difficulties such as the weakening of traditional advantages and the unestablished new competitive advantages.

Facing the severe and complex development environment, this year, China's foreign trade needs to overcome greater difficulties and make more efforts to achieve the development goal of stable and quality improvement.

In the first 4 months, the total profits of industrial enterprises above the national scale reached 1812.94 billion yuan.

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The Fourth Council of the Fourth Session of the China Textile Federation analyzed the situation and believed that the industry has sufficient confidence and confidence to cope with the changes in trade.

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