SMM News: in April, macro data such as import and export, credit, social finance, and CPI were released one after another, and the trend of steady progress of the relevant data was in line with the expectations of experts, indicating that China's economy has full potential and resilience for development. It also boosted investor confidence.
On 9 May, the Ministry of Commerce held a press conference. Gao Feng, a spokesman for the Ministry of Commerce, said at the meeting that since the beginning of this year, a series of policies and measures, such as national tax cuts and fees, have been brought to the ground faster, and the operation of the national economy has been generally stable and a good start. The overall momentum of steady progress in China's foreign trade has not changed.
According to Chinese customs statistics, in the first four months of this year, China's imports and exports of goods totaled 9.51 trillion yuan, an increase of 4.3 percent over the same period last year. Of this total, exports totaled 5.06 trillion yuan, up 5.7 percent; imports totaled 4.45 trillion yuan, up 2.9 percent; and the trade surplus was 618.17 billion yuan, an increase of 31.8 percent. In April, China's imports and exports totaled 2.51 trillion yuan, an increase of 6.5 percent. Of this total, exports totaled 1.3 trillion yuan, up 3.1 percent; imports totaled 1.21 trillion yuan, up 14.3 percent; and the trade surplus was 93.57 billion yuan, narrowing by 43.8 percent.
According to the summit, the role of import and export in the countries along the "Belt and Road Initiative" route is obvious. From a national point of view, China's exports to the European Union, ASEAN, South Korea and Russia increased by 14.2%, 13.4%, 7.7% and 9.1%, respectively. The level of smooth trade with the countries along the "Belt and Road Initiative" line has been continuously improved, and the growth rate of imports and exports is 4.8 percentage points higher than that of the whole, accounting for an increase of 1.3 percentage points to 28.7 per cent. During the Canton Fair this spring, the proportion of merchants and transactions in countries along the "Belt and Road Initiative" route reached 45 per cent and 35.8 per cent, respectively.
In this regard, Fu Yifu, a senior researcher at the Su Ning Financial Research Institute, said in an interview with reporters that trade between China and the countries and regions along the "Belt and Road Initiative" line is on a path of rapid development, in addition to a significant increase in the scale of import and export. There are two other positive effects: first, it has promoted the diversified development of China's foreign trade and reduced its dependence on Europe, the United States, Japan and other traditional foreign trade markets; Second, the countries and regions along the "Belt and Road Initiative" line can more actively integrate into the Chinese-led international division of labor system and share the dividends of China's economic development through cooperation in many aspects.
Fu Yifu said: on the whole, on the basis of consolidating the traditional market, China's foreign trade has also shown a trend of rapid development in emerging markets. Under the influence of the external environment, such as the slowdown in global economic and trade growth and the increasing uncertainty of trade policy, China's foreign trade will be gradually reduced under the influence of the single market, which is conducive to the stable growth of the domestic economy.
In addition, the operation of foreign trade in the first four months of this year also presents the following characteristics: first, the vitality of the main body of private enterprises continues to rise, and the proportion of exports continues to increase; second, the commodity structure continues to upgrade, and the export of mechanical, electrical and labor-intensive products increases. Third, the mode of trade has continued to be optimized, and general trade has maintained strong resilience; fourth, the domestic economy has been running smoothly, leading to a rebound in the growth rate of imports.
Gao said that in the next step, the Ministry of Commerce, together with various regions and relevant departments, will comprehensively implement the various stable foreign trade decisions made by the CPC Central Committee and the State Council, continue to raise the level of trade facilitation, and help enterprises actively open up diversified markets. We will create a good external environment for enterprises and strive to promote the stability and quality of China's foreign trade.