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Solid Foundation For Stable Growth Of China Foreign Trade

Solid foundation for stable growth of China's foreign trade
Solid foundation for stable growth of China's foreign trade

Solid foundation for stable growth of China’s foreign trade

Beijing-A report from the Ministry of Commerce shows that with the support of a series of favorable conditions. It expected that China’s imports and exports will steadily expand and solid improve quality this year.

The China Foreign Trade Report pointed out that China’s economy is recovering steadily. Its advantages in foreign trade continue to grow, and new business formats are developing vigorously. Which will provide strong support for imports and exports.

According to the report, China’s main economic indicators have steadily recovered. The fundamentals of long-term economic development have not changed, and GDP, industrial output, retail sales and fixed asset investment have maintained steady growth.

The report said that the country has also accelerated innovation in foreign trade, and has made progress in building platforms. Cultivating market players, integrating business models, and optimizing the business environment.

New trade formats continue to develop. In 2020.

46 new comprehensive cross-border e-commerce pilot zones will be added, and the market procurement trade pilot will increase by 17 to 31. More than 1,800 overseas warehouses have become a new type of cross-border foreign trade infrastructure e-commerce to expand international markets.

Since last year, the Chinese government has issued a series of foreign trade stabilization policies. Covering export tax rebates, export credit insurance, processing trade, and domestic sales of export products. At the local level, measures taken to help companies weather the COVID-19 pandemic.

The report also emphasized the increased resilience of foreign trade companies facing challenges, and pointed out that companies have accelerated their digital transformation with the support of big data, B2B platforms and online exhibitions. They also continue to increase R&D investment and make improvements in brand, service and quality control. The Ministry of Commerce stated that as the epidemic spreads globally, China’s foreign trade growth is still facing complex and severe situations. The Ministry of Commerce will pay close attention to the difficulties and challenges faced by foreign trade companies such as raw material prices, exchange rate fluctuations, and ocean freight, and strive to solve related problems.

BAIN RESEARCH FOUND THAT IN THE “NEW ERA”

Written by Hüseyin Ali

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