Achieving the 7.5% growth target for foreign trade imports and exports is possible
Date:
2024-03-21
In the first quarter of 2014, the total value of China's imports and exports amounted to 5.9 trillion yuan, a decrease of 3.7 per cent compared with the same period last year (the same below). Among them, exports 3 trillion yuan, down 6.1%; imports 2.9 trillion yuan, down 1.2%; trade surplus 102.83 billion yuan, narrowed 60.9%.
In the first quarter of 2014, the total value of China's imports and exports amounted to 5.9 trillion yuan, a decrease of 3.7 per cent compared with the same period last year (the same below). Among them, exports 3 trillion yuan, down 6.1%; imports 2.9 trillion yuan, down 1.2%; trade surplus 102.83 billion yuan, narrowed 60.9%.
In March, China's total import and export value of 2.03 trillion yuan, down 11.5%. Among them, exports 1.04 trillion yuan, down 9.2%; imports 0.99 trillion yuan, down 13.8%; trade surplus of 46.86 billion yuan, the same period last year for a trade deficit of 6.71 billion yuan.
In dollar terms, in the first quarter, China's total import and export value of 965.88 billion U.S. dollars, down 1%. Among them, exports 491.31 billion U.S. dollars, down 3.4%; imports of 474.57 billion U.S. dollars, an increase of 1.6%; trade surplus of 16.74 billion U.S. dollars, narrowed by 59.7%.
In March, China's total import and export value of 332.52 billion U.S. dollars, down 9%. Among them, exports 170.11 billion U.S. dollars, down 6.6%; imports 162.41 billion U.S. dollars, down 11.3%; trade surplus of 7.71 billion U.S. dollars, the same period last year for the trade deficit of 960 million U.S. dollars.
Zheng Yuesheng, spokesman for the General Administration of Customs, said that although the current world economic situation is still complex, the economic trend of the major economies diverged, the lack of new economic growth points globally, but this year, the development of China's foreign trade or the existence of a number of positive factors that will boost China's foreign trade and import and export growth, and enter a period of moderate growth. These positive factors are mainly the following aspects:
First, the world economy in general shows signs of warming, global trade growth is expected to improve. Recently, the International Monetary Fund, the OECD, the World Bank (quotes) and other international institutions generally believe that the global economic growth expectations for 2014 are better than in 2013, and that the main impetus for accelerated growth of the world economy in 2014 comes from developed economies, leading the world economic recovery. The World Trade Organization's global trade growth expectations for 2014 are also higher than those for 2013. Therefore, the external environment for China's foreign trade and import and export will improve in 2014.
Second, deepening reform has created a favorable policy environment for stable growth of foreign trade. This year, the State Council proposed to create a new situation of high-level opening up to the outside world, promote the pilot free trade test zones, expand inland opening along the border, encourage imports of products in short supply and exports of large-scale complete sets of equipment, and accelerate the construction of the "One Belt, One Road", the Bangladesh-China-India-Myanmar and China-Pakistan Economic Corridors and other tasks. In addition, this year the government will further deepen reforms, intensify efforts to simplify and decentralize administration, and carry out innovation in institutional mechanisms. These important decisions and deployments, the implementation of policy measures and the continued release of reform dividends for the stable growth of China's foreign trade to create a favorable policy environment, but also continue to enhance the confidence of China's foreign trade enterprises, stimulate the innovative vitality of foreign trade enterprises, foreign trade enterprises in the fierce international competition to take the initiative to cultivate and develop new competitive advantages.
Thirdly, the accelerated pace of "going out" has led to the growth of exports of investment-related products. In recent years, the implementation of China's "going out" strategy has had a remarkable effect, and the scale of foreign investment and cooperation has been expanding. According to the United Nations World Investment Report, China has become the third largest outward investor in the world in 2012. Data from the Ministry of Commerce shows that by the end of 2013, China's cumulative non-financial outward FDI stock reached US$525.7 billion; in 2013, China's outward contracted engineering business signed new contracts amounting to US$171.63 billion, an increase of 9.6% year-on-year. The faster growth of outward investment and economic cooperation will drive the growth of China's export of investment-related complete sets of equipment and other products and the growth of processing trade.
Fourth, China's foreign trade export pilot index shows that the next 2-3 months of exports are relatively optimistic. In March this year, China's foreign trade export pilot index was 41.7, up 0.4 compared with the previous month. the monthly average value of the export pilot index in the first quarter was 41.6, up significantly from 39.4 in the fourth quarter of last year. It is expected that China's exports in the second quarter is relatively optimistic, the growth rate than the first quarter has rebounded.
Of course, at present, China's foreign trade also exists in the field of traditional trade competitiveness advantage weakening, from neighboring countries and regions of the increasingly fierce competition, and major trading partners with the increase in trade friction and other unfavorable factors. However, from a full-year perspective, as long as we seize the opportunities for development, and actively cultivate the comprehensive (quotes) competitive advantages of foreign trade enterprises, China's foreign trade imports and exports to achieve the growth target of 7.5% is still possible, and in the overall development of the quality and effectiveness of the further improved.
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