Against the backdrop of the slowdown in world trade growth in the first five months of this year, China's foreign trade has delivered a brilliant "report card" and has accelerated its upward trend. The latest data released by the General Administration of Customs on June 7 showed that the total value of China's import and export of goods in the first five months was 17.5 trillion yuan, a year-on-year increase of 6.3%. Among them, imports and exports in May were 3.71 trillion yuan, an increase of 8.6%, an increase of 0.6 percentage points from April.
Lv Daliang, spokesman of the General Administration of Customs and director of the Statistics and Analysis Department, said that China's exports grew by 11.2% in May, showing that foreign trade activity has increased and exports continue to accelerate, and the positive momentum of foreign trade continues to consolidate.
"Made in China" has obvious advantages
Specifically, in the first five months, exports were 9.95 trillion yuan, up 6.1%, and imports were 7.55 trillion yuan, up 6.4%, showing many highlights. "From the perspective of exports, electromechanical products and high-tech products are still the main export products, and continue to maintain a good momentum. Among them, the export of high value-added products such as integrated circuits and new energy vehicles has grown rapidly, and the export of traditional advantageous products is generally stable." Shi Xianjin, assistant researcher of the International Trade Research Office of the Institute of World Economics and Politics of the Chinese Academy of Social Sciences, said in an interview with the International Business Daily reporter.
The reporter noted that in the first five months, electromechanical products with high technical content and added value accounted for nearly 60% of exports, among which the export of ships, electric vehicles, and household appliances increased by 100.1%, 26.3%, and 17.8% respectively.
Lv Daliang said that in the face of a complex external environment, China's foreign trade operators actively sought innovation and change, and new products, new technologies, and new ideas continued to emerge. At the 135th Canton Fair, which closed in May, more and more high-end, intelligent, and green products not only "circled" new friends, but also amazed old customers, fully demonstrating the competitiveness of "Made in China".
By region, among China's top four trading partners, except for the decline in trade between the EU and China compared with the same period last year, China's trade with ASEAN, the United States and South Korea all maintained year-on-year growth. ASEAN continues to be China's largest trading partner. Data show that the total trade value between China and ASEAN in the first five months was 2.77 trillion yuan, an increase of 10.8%. The EU is China's second largest trading partner, and the total trade value between China and the EU was 2.23 trillion yuan, a decrease of 1.3%. During the same period, China's total imports and exports to countries participating in the construction of the "Belt and Road" totaled 8.31 trillion yuan, an increase of 7.2%.
From the perspective of the main structure of exports, private enterprises are still the main force of import and export trade, and private enterprises are full of vitality. In the first five months, the number of foreign trade operators with import and export performance in China increased by 8.7%. Among them, the import and export value of private enterprises increased by 11.5%.
A company in Guangdong is a traditional manufacturing enterprise. For the company, 2024 is a year full of opportunities and challenges. "The good news is that in the post-epidemic era, traditional customers from various countries who mainly rely on offline supermarkets have returned to China for procurement, and we have returned to the traditional and familiar way of working." Ye, the sales director of the company's foreign trade department, told reporters, however, because every factory hopes to attract customers at the lowest price, the competition is more intense than in previous years.
"We realized that simply competing on price is a dead end for the company." Ye said that in order to further expand product exports, the company has spent a lot of energy and financial resources on new product research and development, gradually transforming from indoor high-power speakers in previous years to small and beautiful portable Bluetooth speakers that can be used both indoors and outdoors. This is the first step in the company's product transformation, and it has achieved good results.
According to Ye, customers in multiple markets such as Europe, the United States, Japan, South Korea, and Latin America are satisfied with the company's products. As the products are more diversified, the company has gradually revitalized the markets of Japan, South Korea, Southeast Asia, Europe and the United States on the basis of maintaining Latin American customers. The successful transformation of the product has also brought more attention from supermarkets and established consumer electronics brands that focus on quality and design. "The new orders have inspired our determination to continuously explore and develop new products, and we will continue to move towards new goals!"
The positive trend is expected to continue
The "quality improvement and quantity stability" of foreign trade is inseparable from the hard work of business entities and the joint support of multiple departments. The Ministry of Commerce and China Export and Credit Insurance Corporation jointly issued six measures to further play the role of export credit insurance; the Ministry of Commerce and other departments accelerated the promotion of the "Opinions on Expanding Cross-border E-commerce Exports and Promoting the Construction of Overseas Warehouses" to enable the development of the cross-border e-commerce industry, relying on China's 165 cross-border e-commerce comprehensive pilot zones, combined with the industrial endowments and location advantages of various regions, to drive more enterprises in the industry to use cross-border e-commerce to participate in international trade; the State Administration of Foreign Exchange introduced new measures to optimize the foreign exchange business process of goods trade; the General Administration of Customs signed an authorized operator (AEO) mutual recognition arrangement with Burundi and Iceland to further improve the level of trade facilitation...
The continuous release of policy dividends has greatly boosted the confidence and confidence of foreign trade "quality improvement and quantity stability". A recent survey by the Ministry of Commerce showed that the newly signed orders of key foreign trade enterprises have improved for four consecutive months. The results of a recent survey by the China Council for the Promotion of International Trade also show that 81.6% of foreign trade companies predict that exports will improve or remain the same in the first half of the year, and 65.1% of the surveyed companies have increased or maintained new orders compared with the previous quarter. Looking ahead to the next stage of foreign trade, Liu Bin, a researcher at the School of Government Management of the University of International Business and Economics and the National Institute of International Strategy, told reporters that with the continuous improvement of the competitiveness of Chinese companies and the recovery of external demand, China's foreign trade situation will show a stabilizing and recovering trend.
However, experts also reminded that the current international trade situation is still complex and severe, especially as some countries are pursuing unilateralism and protectionism, which may increase trade costs and trade risks.
How to help enterprises stabilize orders, get new orders, and expand the market? Liu Bin suggested that efforts should be made in three aspects: stabilize the basic market of Europe and promote the development of China-Europe trade; stabilize the surrounding markets, especially the trade with South Korea and Japan; promote the benign interaction between foreign investment and foreign trade, and continue to work hard to stabilize the increase and stock of foreign investment, especially for foreign-invested enterprises in trade, and increase investment promotion efforts.
Shi Xianjin also made relevant suggestions: First, further deepen economic and trade cooperation with traditional trading partners such as ASEAN, the EU, and Latin America, actively explore emerging markets such as the countries participating in the Belt and Road Initiative and Africa, accelerate the construction of a global high-standard free trade zone network, and build a "global southern economic and trade network"; second, new foreign trade formats such as cross-border e-commerce, overseas warehouses, and market procurement continue to be active, playing an important role in stabilizing foreign trade. The policy environment and supporting facilities of new formats such as cross-border e-commerce should be further improved, the development of digital trade should be accelerated, and new momentum for foreign trade development should be cultivated; third, focus on high-quality development of trade, improve the technical content and added value of export products, and improve export quality and efficiency. Improve the trade promotion system and increase financial support such as trade financing and credit insurance. Enhance the export status of the "new three things" and ships, promote the popularization of new energy products in energy-scarce countries, and alleviate their foreign exchange pressure in the process of purchasing traditional energy; Fourth, accelerate the green and low-carbon transformation of export products and production methods, and actively respond to green barriers.
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