"A good start" in foreign trade, spring economy, special treasury bond... Understanding China's economic resilience and vitality from hot words
2024-03-08
On March 7th, the General Administration of Customs announced that in the first two months of this year, China's import and export of goods increased by 8.7% year-on-year, with exports reaching double-digit growth and foreign trade achieving a "good start". In the first two months of this year, China's total import and export value of goods trade was 6.61 trillion yuan, a year-on-year increase of 8.7%. Among them, exports reached 3.75 trillion yuan, a year-on-year increase of 10.3%; Imports reached 2.86 trillion yuan, a year-on-year increase of 6.7%. Behind a good start is the impressive performance of China's export growth and the consolidation of its competitive advantage. The export of advantageous products such as automobiles, household appliances, and ships increased by 15.8%, 24.3%, and 180.6% year-on-year, respectively. The data released by the General Administration of Customs shows that in the first two months of this year, China's foreign trade imports and exports with major trading partners maintained a growth momentum, and the international market layout of close regional cooperation and diversified development continued to be optimized. According to customs statistics, in the first two months of this year, China's import and export to countries jointly building the "the Belt and Road" reached 3.13 trillion yuan, up 9% year on year, accounting for 47.3% of China's total import and export value. Among them, imports and exports to ASEAN amounted to 993.24 billion yuan, an increase of 8.1%; Import and export to the five Central Asian countries reached 95.09 billion yuan, an increase of 26%. During the same period, imports and exports to other RCEP member countries reached 1.94 trillion yuan, an increase of 3.5%; Import and export to Latin America reached 587.48 billion yuan, an increase of 17.3%; Import and export to Africa reached 338.94 billion yuan, an increase of 17.3%. After the Spring Festival, in Taizhou, the largest private shipbuilding base and national ship export base in China, various shipbuilding companies are bustling with activity. In this shipyard, 14 ocean going transport ships are being built simultaneously. At present, Taizhou in Jiangsu Province has been successfully selected as a national advanced manufacturing cluster with its advantageous industries such as marine equipment and high-tech ships. High end ship types such as oil tankers, LNG dual fuel powered ships, and ultra large container ships are highly favored in the international market and have become the "ace" products for enterprises to attract international orders. Since the beginning of 2024, various regions and departments, as well as foreign trade entities, have taken various measures to overcome difficulties and seize new market opportunities through innovation and change, utilizing new technologies and optimizing market layout. According to customs statistics, in the first two months of this year, China's private enterprises imported and exported 3.61 trillion yuan, a year-on-year increase of 17.7%, accounting for 54.6% of the total import and export value, an increase of 4.2 percentage points compared to the same period last year. The "Going Abroad" service continues to increase, and enterprises are seizing the "Spring Economy". Currently, the "Spring Economy" is experiencing a consumption peak. In overseas consumer markets, outdoor leisure products such as tents, beach chairs, and travel bags are also popular among consumers. During this period, Ningbo Customs actively contacted enterprises exporting outdoor leisure products in their jurisdiction, sorted out the export difficulties and pain points of enterprises, and formulated personalized supervision and protection plans to help enterprises seize the "spring economy". Early in the morning, staff from Ningbo Customs arrived at the company to provide guidance on various issues related to shipping, customs clearance, and inspection in the company's export business. The surge in order volume and the extended shipping time compared to previous years have brought a lot of pressure to enterprises.
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