7 China’s foreign trade exports achieved double-digit growth for the first time this year

7 China's foreign trade exports achieved double-digit growth for the first time this year

The latest foreign trade data released by the General Administration of Customs on August 7 shows that in July, China’s foreign trade imports and exports continued to maintain both positive growth, and foreign trade exports achieved double-digit growth for the first time. China’s foreign trade has a good start in the second half of the year. Judging from the first seven months of this year, the total value of China’s foreign trade imports and exports was RMB 17.16 trillion, a decrease of 1.7% from the same period last year. China’s foreign trade is entering a path of stabilization and recovery.

Data shows that China’s foreign trade imports and exports in July were 2.93 trillion yuan, an increase of 6.5%. Among them, foreign trade exports were 1.69 trillion yuan, an increase of 10.4%; foreign trade imports were 1.24 trillion yuan, an increase of 1.6%. Looking at the first seven months, the decline in the total value of imports and exports narrowed by 1.5 percentage points from the first half of the year. Among them, foreign trade exports were 9.4 trillion yuan, down 0.9%; foreign trade imports were 7.76 trillion yuan, down 2.6%; the trade surplus was 1.64 trillion yuan, up 8.1%.

“The data shows that my country’s production has embarked on a stable recovery channel, and subsequent imports and exports will further recover. Foreign trade may have a positive growth throughout the year. China can make greater contributions to the recovery of the world economy.” Professor Cui Fanzai, School of International Economics and Trade, University of International Business and Economics Analyzed in an interview with reporters.

Liu Xiangdong, deputy director of the Economic Research Department of the China Center for International Economic Exchanges, said in an interview that foreign trade data shows that despite the complex and volatile global foreign trade situation, especially the shrinking of external demand, after China’s new crown pneumonia epidemic has been effectively controlled, foreign trade exports have recovered. The momentum is strong, and China’s foreign trade stabilization work has achieved remarkable results, and the momentum of stability and improvement has been strengthened. The next step in the foreign trade situation is expected to continue to return to normal levels.

Regarding the reasons for the growth of foreign trade, Li Kuiwen, Director of the Statistics and Analysis Department of the General Administration of Customs, believes that it is mainly due to China’s major achievements in coordinating epidemic prevention and control and economic and social development, which fully reflects the strong resilience of China’s economy and the positive factors supporting foreign trade The continuous increase has strongly promoted the stabilization of foreign trade.

Cui Fan said that the improvement of foreign trade is due to three factors: First, China has made outstanding achievements in epidemic prevention and control, domestic production has quickly recovered, and the domestic cycle has been activated. Some multinational companies have transferred orders to China, which has promoted the growth of foreign trade exports. ; Second, a series of policies to stabilize foreign trade and foreign investment have gradually achieved results; third, the improvement of the business environment and the emphasis on private enterprises have promoted the development of the private economy, and private enterprises have become the main force in China’s exports.

Liu Xiangdong further analyzed that the improvement of foreign trade is inseparable from the support of China’s strong manufacturing capacity. When the global demand for epidemic prevention materials increases, China can timely adjust its production lines to meet market needs. At the same time, facing the obstruction of logistics channels, China has increased the use of China-Europe trains and expanded cross-border e-commerce and other new channels and new formats, effectively solving the problem of import and export channels.

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