Looking forward to the progress of "Belt and Road Initiative" in creating new demand, the Ministry of Commerce will give a detailed explanation of the progress of the "Belt and Road Initiative" who hopes to create new demand.-Shanghai Metals Market

Hot Keywords

  • Nickel market
  • Silicon
  • Morning comments
  • Tradeflow
  • Market commentary
  • zinc
  • Poland
  • Nickel
  • Copper
  • Lead
  • Aluminium
  • Production data
  • MMi Iron Ore Port Index
  • Customs data
  • Zinc

Looking forward to the progress of "Belt and Road Initiative" in creating new demand, the Ministry of Commerce will give a detailed explanation of the progress of the "Belt and Road Initiative" who hopes to create new demand.

Translation 04:00:07PM Feb 12, 2019 Source:Business department
The content below was translated by Tencent automatically for reference.

In 2018, China's import and export of goods totaled 30.5 trillion yuan, an increase of 9.7 percent, equivalent to US $4.6 trillion, an increase of 12.6 percent, a net increase of more than US $510 billion over the previous year, exceeding China's total import and export volume in 2001. It has been optimized in five aspects: international market layout, domestic regional layout, commodity structure, main body of operation and mode of trade, accounting for 27.4 per cent of imports and exports from countries along the "Belt and Road Initiative" route. For the whole year, foreign direct investment totaled US $129.8 billion, an increase of 4.2 per cent. The structure of outward investment continued to be optimized, mainly to leasing and business services, manufacturing, wholesale and retail trade, and mining. Direct investment in countries along the "Belt and Road Initiative" route was US $15.6 billion, an increase of 8.9 per cent, or 13 per cent. Non-financial direct investment by Chinese enterprises in countries along the "Belt and Road Initiative" route was US $15.64 billion, an increase of 8.9 percent over the same period last year, and the turnover of foreign contracted projects was US $89.33 billion, accounting for 52 percent of the total in the same period, accounting for more than half of the total. A large number of major projects are being implemented in an orderly manner, and the demonstration effect has been continuously enhanced.

Some new characteristics and important progress in economic and trade cooperation between China and "Belt and Road Initiative" countries in 2018 have the following characteristics:

First, trade exchanges are developing rapidly. In opening up two-way markets, we have actively promoted trade liberalization and facilitation, set up more trade promotion platforms, and accelerated the development of silk road e-commerce merchants. We have signed e-commerce cooperation documents with nine countries. At the same time, we promoted the opening of 6363 trains and 540000 TEUs of goods in the whole year, and the trade volume with countries along the "Belt and Road Initiative" route reached US $1.3 trillion, an increase of 16.3 percent, which was 3.7 percentage points higher than the overall growth rate of foreign trade.

Second, investment cooperation has been continuously deepened. We further relaxed access to foreign investment, optimized the business environment, deepened the reform of the management system for foreign investment cooperation, and strengthened service guarantees. Countries along the Belt and Road invested US $6.08 billion in China throughout the year. The direct investment in the countries along the route is 16.27 billion US dollars, and the amount of foreign contracted projects in the countries along the route is 89.33 billion US dollars, which plays a very important role in contracting construction projects. In addition, we have signed cooperation agreements with Japan, Spain, the Netherlands and Belgium for third-party markets.

Third, major projects to do excellence and refinement. We have promoted the innovative development of overseas economic and trade cooperation zones, and a number of interconnection projects have landed one after another. Among them, the China-Malaysia Friendship Bridge in the Maldives has been opened to traffic, the Yaji Railway has been opened to operation, and the port of Gwadar has the ability to operate fully. These major projects have effectively promoted local economic and social development and the improvement of people's livelihood. The overseas economic and trade cooperation zone has also become a bright spot in the construction of "Belt and Road Initiative." The Thai-China Luoyong Industrial Zone, the China-Egypt Teda Suez Economic and Trade Cooperation Zone, and our Special Economic Zone at the port of Sihanouk in Cambodia have all developed well and created a large number of jobs, which have been welcomed and praised by the host country. The Sihanouk Port Special Economic Zone in Cambodia alone has created 22000 jobs, accounting for a large proportion of the local Sihanouk port jobs.

Fourth, the construction of the free trade zone network has been accelerated. In promoting the construction of a free trade area, the free trade agreement with Georgia has entered into force, negotiations on the free trade agreement have been completed with Mauritius, and the protocol on the upgrading of the free trade agreement has been signed with Singapore. In addition, the Eurasian Economic Union has also signed an agreement on economic and trade cooperation, and positive progress has been made in the negotiations on the regional comprehensive economic partnership agreement (RCEP). It can be said that a network of high-standard free trade zones based on surrounding areas, radiating "Belt and Road Initiative" and facing the world is taking shape.

Fifth, the cooperation mechanism has been gradually improved. We have done a lot of work in building a mechanism for economic and trade cooperation. Under the framework of the bilateral Joint Commission on economy and Trade and the mixed Committee, we have set up a working group on smooth trade with Thailand and Kenya, and a working group on investment cooperation with Kuwait and Jordan. Cooperation mechanisms for trade in services have been established with seven countries, and the establishment of these mechanisms provides a solid institutional guarantee for the construction of "Belt and Road Initiative." In April this year, the second "Belt and Road Initiative" International Cooperation Summit Forum will be held in Beijing, and the Ministry of Commerce will make joint efforts with relevant departments to ensure the complete success of the forum. We are responsible for hosting the sub-forum on smooth trade and the distinguishing forum for overseas economic and trade cooperation, and we will seriously participate in the preparations for the summit and the two sub-forums to promote the implementation of the economic and trade results of the second Summit Forum. We will promote the high-quality development of "Belt and Road Initiative" economic and trade cooperation to a new level.

Scan QR code, apply to join SMM metal exchange group, please indicate company + name + main business

Looking forward to the progress of "Belt and Road Initiative" in creating new demand, the Ministry of Commerce will give a detailed explanation of the progress of the "Belt and Road Initiative" who hopes to create new demand.

Translation 04:00:07PM Feb 12, 2019 Source:Business department
The content below was translated by Tencent automatically for reference.

In 2018, China's import and export of goods totaled 30.5 trillion yuan, an increase of 9.7 percent, equivalent to US $4.6 trillion, an increase of 12.6 percent, a net increase of more than US $510 billion over the previous year, exceeding China's total import and export volume in 2001. It has been optimized in five aspects: international market layout, domestic regional layout, commodity structure, main body of operation and mode of trade, accounting for 27.4 per cent of imports and exports from countries along the "Belt and Road Initiative" route. For the whole year, foreign direct investment totaled US $129.8 billion, an increase of 4.2 per cent. The structure of outward investment continued to be optimized, mainly to leasing and business services, manufacturing, wholesale and retail trade, and mining. Direct investment in countries along the "Belt and Road Initiative" route was US $15.6 billion, an increase of 8.9 per cent, or 13 per cent. Non-financial direct investment by Chinese enterprises in countries along the "Belt and Road Initiative" route was US $15.64 billion, an increase of 8.9 percent over the same period last year, and the turnover of foreign contracted projects was US $89.33 billion, accounting for 52 percent of the total in the same period, accounting for more than half of the total. A large number of major projects are being implemented in an orderly manner, and the demonstration effect has been continuously enhanced.

Some new characteristics and important progress in economic and trade cooperation between China and "Belt and Road Initiative" countries in 2018 have the following characteristics:

First, trade exchanges are developing rapidly. In opening up two-way markets, we have actively promoted trade liberalization and facilitation, set up more trade promotion platforms, and accelerated the development of silk road e-commerce merchants. We have signed e-commerce cooperation documents with nine countries. At the same time, we promoted the opening of 6363 trains and 540000 TEUs of goods in the whole year, and the trade volume with countries along the "Belt and Road Initiative" route reached US $1.3 trillion, an increase of 16.3 percent, which was 3.7 percentage points higher than the overall growth rate of foreign trade.

Second, investment cooperation has been continuously deepened. We further relaxed access to foreign investment, optimized the business environment, deepened the reform of the management system for foreign investment cooperation, and strengthened service guarantees. Countries along the Belt and Road invested US $6.08 billion in China throughout the year. The direct investment in the countries along the route is 16.27 billion US dollars, and the amount of foreign contracted projects in the countries along the route is 89.33 billion US dollars, which plays a very important role in contracting construction projects. In addition, we have signed cooperation agreements with Japan, Spain, the Netherlands and Belgium for third-party markets.

Third, major projects to do excellence and refinement. We have promoted the innovative development of overseas economic and trade cooperation zones, and a number of interconnection projects have landed one after another. Among them, the China-Malaysia Friendship Bridge in the Maldives has been opened to traffic, the Yaji Railway has been opened to operation, and the port of Gwadar has the ability to operate fully. These major projects have effectively promoted local economic and social development and the improvement of people's livelihood. The overseas economic and trade cooperation zone has also become a bright spot in the construction of "Belt and Road Initiative." The Thai-China Luoyong Industrial Zone, the China-Egypt Teda Suez Economic and Trade Cooperation Zone, and our Special Economic Zone at the port of Sihanouk in Cambodia have all developed well and created a large number of jobs, which have been welcomed and praised by the host country. The Sihanouk Port Special Economic Zone in Cambodia alone has created 22000 jobs, accounting for a large proportion of the local Sihanouk port jobs.

Fourth, the construction of the free trade zone network has been accelerated. In promoting the construction of a free trade area, the free trade agreement with Georgia has entered into force, negotiations on the free trade agreement have been completed with Mauritius, and the protocol on the upgrading of the free trade agreement has been signed with Singapore. In addition, the Eurasian Economic Union has also signed an agreement on economic and trade cooperation, and positive progress has been made in the negotiations on the regional comprehensive economic partnership agreement (RCEP). It can be said that a network of high-standard free trade zones based on surrounding areas, radiating "Belt and Road Initiative" and facing the world is taking shape.

Fifth, the cooperation mechanism has been gradually improved. We have done a lot of work in building a mechanism for economic and trade cooperation. Under the framework of the bilateral Joint Commission on economy and Trade and the mixed Committee, we have set up a working group on smooth trade with Thailand and Kenya, and a working group on investment cooperation with Kuwait and Jordan. Cooperation mechanisms for trade in services have been established with seven countries, and the establishment of these mechanisms provides a solid institutional guarantee for the construction of "Belt and Road Initiative." In April this year, the second "Belt and Road Initiative" International Cooperation Summit Forum will be held in Beijing, and the Ministry of Commerce will make joint efforts with relevant departments to ensure the complete success of the forum. We are responsible for hosting the sub-forum on smooth trade and the distinguishing forum for overseas economic and trade cooperation, and we will seriously participate in the preparations for the summit and the two sub-forums to promote the implementation of the economic and trade results of the second Summit Forum. We will promote the high-quality development of "Belt and Road Initiative" economic and trade cooperation to a new level.

Scan QR code, apply to join SMM metal exchange group, please indicate company + name + main business