Ministry of Commerce releases “China Foreign Trade Situation Report (Spring 2020)”

Jul 08, 2020  |  by zhaoxh


Recently, the General Department of the Ministry of Commerce and the Chinese Academy of International Trade and Economic Cooperation jointly issued the “China Foreign Trade Situation Report (Spring 2020)” (hereinafter referred to as the “report”). The report reviewed the operation of China’s foreign trade in 2019 and the first five months of 2020, and analyzed the development environment of China’s foreign trade in 2020.
The report pointed out that in 2019, against the background of the overall global economic and trade slowdown, China’s foreign trade grew against the trend. According to the statistics of the World Trade Organization (WTO), China’s exports of goods accounted for 13.2% of total global exports in 2019, an increase of 0.4 percentage points from the previous year. Exports accounted for a steady increase in the international market share; imports of goods accounted for total global imports of goods is 10.8%, which is the same as the previous year, and the import share of the international market remains at the highest level in history.
In 2019, my country’s textiles, apparel, footwear, luggage, toys and other seven categories of labor-intensive products exported a total of 3.31 trillion yuan, an increase of 6.1%. Among them, the export of self-branded goods was 2.9 trillion yuan, an increase of 12%, accounting for nearly 17% of total exports, an increase of 1.1 percentage points over the previous year.
The report believes that as China accelerates its all-round opening up, the western region has become an important force for stabilizing China’s foreign trade development. In 2019, exports from the central and western regions accounted for 18.3% of the country’s total exports. The export of processing trade in the central and western regions accounts for nearly 23% of the total export of processing trade in the country. The import and export of private enterprises in the central and western regions increased by 28.3% and 22.4%, respectively, which was 19.5 and 13.6 percentage points higher than those in the eastern region. In 2019, the top four regions for the growth of imports and exports of private enterprises are Tibet, Hunan, Guangxi and Anhui, all in the central and western regions. With the help of the “Belt and Road” initiative and the comparative advantage of regional comprehensive costs, the import and export of private enterprises in the central and western regions are growing faster.
The report believes that the development of foreign trade in 2020 faces increased environmental uncertainty. Difficulties in domestic enterprises, especially small, medium and micro enterprises, are prominent, and employment pressure is increasing. The risks and challenges facing China’s foreign trade development are extremely complex and severe. At the same time, it should also be noted that with the gradual alleviation of the domestic pandemic situation, economic production activities have gradually returned to normal, and the stabilization of the basic foreign trade base throughout the year still has a solid foundation and strong support.

ALL COMMENTS

    

2024.12   

   086-10-85229751

chinatextile2015@163.com

Subscribe to Magazine