Foreign trade growth is stable
Time:2018/09/02     Viewed:0

In August, under the unfavorable factors of increased external environment uncertainty and high temperature extreme weather, China's foreign trade continued to maintain steady and rapid growth, and trade import and export became more balanced.

According to customs statistics, in August, the total value of China's foreign trade imports and exports was 2.71 trillion yuan, a year-on-year increase of 12.7%, and the growth rate was 0.2 percentage points higher than that in July. Among them, exports were 1.44 trillion yuan, up 7.9%; imports were 1.27 trillion yuan, up 18.8%; trade surplus was 179.75 billion yuan, narrowing 34.2%.

In the first eight months of this year, China’s trade in goods achieved a total import and export value of 19.43 trillion yuan, a year-on-year increase of 9.1%. Among them, exports were 10.34 trillion yuan, up 5.4%; imports were 9.09 trillion yuan, up 13.7%; trade surplus was 1.25 trillion yuan, narrowing 31.3%.

"The changes in foreign trade data in the first eight months are not only a vivid reflection of the current international and domestic economic situation and policy environment, but also show that the policy effect of China's expansion of imports is constantly emerging, and it also indicates some trend changes in the future development of foreign trade." China's macro economy Yang Changyong, deputy director of the Comprehensive Research Office of the Institute of Foreign Economics and Research, said in an interview with the Economic Daily.

From the perspective of foreign trade structure, China's general trade growth rate and trade share have achieved double growth, the trade structure has been further optimized, and the regional layout of foreign trade has become more coordinated. In the first eight months, China's general trade import and export was 11.43 trillion yuan, an increase of 13.1%, accounting for 58.8% of the total foreign trade, an increase of 2.1 percentage points over the same period last year. In the same period, the import and export of processing trade was 5.19 trillion yuan, an increase of 2.3%, and the proportion of foreign trade fell by 1.8 percentage points. In addition, thanks to the improvement of trade facilitation level, China imported and exported 2.11 trillion yuan in bonded logistics, an increase of 15.7%, accounting for 10.8% of China's total foreign trade.

The data shows that in the first eight months, the growth rate of foreign trade in the central and western regions of China reached 14.3% and 11.3%, which was higher than the overall growth rate of China's foreign trade by 5.2 and 2.2 percentage points. In this regard, Li Kuiwen, director of the Department of Statistics and Analysis of the General Administration of Customs, said that with the full implementation of the national regional cooperation strategy, while making foreign trade in the eastern region, it will continue to release the foreign trade potential of the central and western regions and promote the development of foreign trade. The regional structure is more reasonable.

From the perspective of the trade market, China's imports and exports to the EU, the United States, and the ASEAN have all increased, and the growth rate of imports and exports along the “Belt and Road” countries is higher than the overall level. Among them, the total trade value of Central Europe, Central America and China-ASEAN was 2.87 trillion yuan, 2.67 trillion yuan and 2.45 trillion yuan, up 6.2%, 5.9% and 11.8%. At the same time, China's total import and export of countries along the “Belt and Road” was 5.31 trillion yuan, an increase of 12%, which was 2.9 percentage points higher than the national overall growth rate, accounting for 27.3% of China's total foreign trade, and the proportion increased by 0.7 percentage points.

From the perspective of market players, private enterprises are still the largest main body of the foreign trade market, and the proportion of trade has further increased. In the first eight months, the import and export of private enterprises was 7.63 trillion yuan, an increase of 11.8%, accounting for 39.3% of the total value of foreign trade, an increase of 0.9 percentage points over the same period of last year. In the same period, foreign-invested enterprises imported and exported 8.24 trillion yuan, an increase of 4.1%, accounting for 41.3% of my total foreign trade. The import and export of state-owned enterprises was 3.49 trillion yuan, an increase of 16.4%, accounting for 21.2% of the total value of foreign trade.

It is worth noting that in the first eight months, exports of mechanical and electrical products with higher added value grew faster, while exports of traditional labor-intensive products declined, and foreign trade accelerated to better. In the first 8 months, the export of electromechanical products represented by electrical and electronic products and machinery and equipment was 6.01 trillion yuan, an increase of 7%, accounting for 58.2% of the total export value. The seven categories of labor-intensive products such as clothing, textiles and furniture exported a total of 1.99 trillion yuan, down 2.5%.

In terms of imports, imports of crude oil, natural gas and other commodities increased, soybean imports decreased, and the average price of bulk commodities rose and fell. Affected by domestic supply-side structural reforms and stricter environmental protection policies, China imported 710 million tons of iron ore in the first eight months, a decrease of 0.5%; crude oil, coal and natural gas imports were 299 million tons, 204 million tons and 57.18 million tons. , respectively, increased by 6.5%, 14.7% and 34.8%. With the full implementation of the “foreign garbage” embargo policy, the primary shape of plastic imports was 21.59 million tons, an increase of 17.1%.

"From the perspective of structural factors, although the impact of Sino-US economic and trade friction on China's foreign trade is limited, some industries such as steel, aluminum and photovoltaics have begun to be under pressure. The negative impact of foreign trade protectionism may be further revealed in the fourth quarter." Yang Changyong said that the most important thing at the moment is the word "stable". As long as the domestic economy and society maintain steady and rapid development, we will have the confidence to deal with trade disputes and win valuable time windows for exploring diversified trade markets.

(Economic Daily)

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