The driving force behind the development of foreign trade worth 36 trillion yuan: accelerating the cultivation of new formats and models
2024-11-27
Since the beginning of this year, China's foreign trade development has maintained a good momentum of overall quality improvement and stable quantity. With the continuous development of emerging markets, accelerated cultivation of new formats and models, and continued efforts in stock and incremental policies, the stable growth of imports and exports in the fourth quarter has a foundation and support, and the momentum of China's foreign trade development continues to strengthen. The latest data from the General Administration of Customs shows that the total import and export volume of goods in October increased by 4.6% year-on-year, accelerating by 3.9 percentage points compared to the previous month. Among them, exports increased by 11.2%, accelerating by 9.6 percentage points. After the Political Bureau meeting of the Communist Party of China Central Committee on September 26th, a package of incremental policies were concentrated, and the import and export growth rate in October accelerated by nearly 4 percentage points compared to September. In the first ten months, China's foreign trade grew steadily, with the scale continuously expanding and the structure continuously optimizing. The goal of stabilizing the quality and quantity of foreign trade for the whole year is expected to be achieved Introduction by Lv Daliang, Director of the Statistics and Analysis Department of the General Administration of Customs. Since the beginning of this year, China's foreign trade enterprises have innovatively developed, and the overall development of foreign trade has maintained a good momentum of quality improvement and stable quantity. The share of China's exports in the global market has basically remained stable. In the first ten months, China's total import and export value of goods trade was 36.02 trillion yuan, a year-on-year increase of 5.2%. Among them, exports amounted to 20.8 trillion yuan, an increase of 6.7%; Imports amounted to 15.22 trillion yuan, an increase of 3.2%. Continuously exploring emerging markets and optimizing the structure of foreign trade products. Recently, on the assembly line of Huayu Electric Appliance Group Co., Ltd. in Cixi City, Zhejiang Province, air fryers have been assembled, tested, packed, and sent to Latin America one by one. About two containers need to be shipped out every day, and the order has been scheduled for January next year Xu Jiasheng, General Manager of Huayu Electric, introduced that since the beginning of this year, the sales volume of the company's products in Latin America has exceeded 130 million yuan, a year-on-year increase of 166%. The annual growth of air fryer products is expected to double. With a strong manufacturing foundation and a complete industrial system, more and more Chinese manufacturers are constantly exploring emerging markets, and their trading partners are becoming more diversified. According to customs data, in the first ten months, ASEAN became China's largest trading partner, with a total trade value of 5.67 trillion yuan, an increase of 8.8%, accounting for 15.7% of China's total foreign trade value. Over the same period, China's imports and exports to countries jointly building the "the Belt and Road" totaled 16.94 trillion yuan, an increase of 6.2%. The share of China's exports in the global market has remained relatively stable. According to estimates, in the first seven months of this year, China's international market share for exports was 14.6%, an increase of 0.4 percentage points compared to the same period last year; its import share was 13.8%, an increase of 0.6 percentage points compared to the same period last year, "said Liang Ming, director of the Institute of Foreign Trade at the Research Institute of the Ministry of Commerce. Since the beginning of this year, the stable growth of China's imports and exports depends on two aspects: from the demand side, the global economy is stabilizing, and the recovery of external demand has created favorable conditions for China's exports; From the supply side, China is currently accelerating the development of new quality productivity, and the trend of high-end, intelligent, and green manufacturing is very obvious. Innovation has won wider favor for Chinese manufacturing Analysis by Wang Lingjun, Deputy Director of the General Administration of Customs. The structure of foreign trade products is constantly optimized, and the international competitive advantage is constantly consolidated. In the first ten months, China's exports of electromechanical products reached 1.236 trillion yuan, an increase of 8.5%, accounting for 59.4% of China's total export value. Among them, exports of automatic data processing equipment and its components, integrated circuits, and automobiles all achieved double-digit growth. The accelerated cultivation of new formats and models has become an important driving force for growth. The domestic "Double 11" promotion has just come to an end, and the large-scale "Black Friday" promotion in overseas markets is about to begin. Domestic e-commerce companies are seizing the opportunity to "go global". In recent days, a batch of self owned brand furniture has been declared and cleared by Zhejiang Hengjian Home Furnishings Co., Ltd. to Qianjiang Customs under Hangzhou Customs, and exported overseas through cross-border e-commerce overseas warehouses. At present, Hengjian Home has set up more than 10 overseas warehouses in North America and other regions, greatly saving time and cost from warehouse distribution to delivery to overseas consumers. Through the cross-border e-commerce export overseas warehouse model, domestic enterprises first export goods to overseas warehouses through cross-border logistics, and after completing transactions on the cross-border e-commerce platform, directly ship from overseas warehouses to overseas consumers. This model is beneficial for meeting personalized customer needs while effectively improving export efficiency and market competitiveness, saving costs. The latest data shows that in the first three quarters, China's cross-border e-commerce imports and exports reached 1.88 trillion yuan, an increase of 11.5%, accounting for nearly 6% of China's foreign trade. Recently, in the dust-free workshop of Tianhong (Dongguan) Electronic Technology Co., Ltd., maintenance workers are proficiently inspecting a batch of solid-state drives and control cards. The company's customs declaration manager Fu Xiaofeng introduced, "This year, our bonded maintenance business has increased significantly. These repaired products can complete the maintenance process within one month, repackage them, and then be sent back to customers." As a new business model for foreign trade, bonded maintenance business has become a new growth point for the enterprise. Taking Dongguan as an example, according to statistics from Dongguan Customs, relying on the regional cluster advantage of the 100 billion level electronic communication industry within its jurisdiction, Dongguan promotes industrial transformation and upgrading through maintenance services. In the first ten months of this year, the import and export value of bonded maintenance outside Dongguan Comprehensive Bonded Zone reached 4.94 billion yuan. The new forms and models of foreign trade are becoming an important driving force for the growth of China's foreign trade. The relevant person in charge of the General Administration of Customs stated that the customs will continue to promote policy innovation and regulatory reform in the comprehensive bonded zone, optimize the innovation mechanism of the customs supervision system in the free trade pilot zone, establish a customs supervision model that is suitable for the development needs of new quality productivity, create a favorable institutional environment for the development of new formats and models, and support the standardized development of new formats and models such as cross-border e-commerce, overseas warehouses, market procurement, and bonded maintenance. The stock policy and incremental policy continue to be strengthened, and the positive factors for the development of foreign trade have increased. Yiwu's small commodities have opened up a large market. In recent years, more and more market procurement and trade entities have sought export opportunities through platforms under Yiwu Small Commodity City Group, and processed export receipts through the platform payment institution - Quick Pass Payment. Small and micro merchants have a strong demand for financing, but often lack sufficient collateral. In March of this year, Bank of China collaborated with AliExpress to launch the "Yi Pay Credit Loan", which provides matching credit loans based on the cross-border RMB settlement volume of customers' "Bank of China Cross border E-commerce" business on AliExpress in the previous year, improving the accessibility and convenience of financing for small and micro enterprises in foreign trade. Recently, the executive meeting of the State Council approved the "Several Policy Measures to Promote Stable Growth of Foreign Trade", which helps foreign trade enterprises stabilize orders and expand markets, providing support for the sustained recovery and improvement of the economy. It is proposed to increase financial support, strengthen new drivers of foreign trade, promote the development of cross-border e-commerce, and advance the construction of overseas smart logistics platforms; At the same time, we need to strengthen the service guarantee for foreign trade enterprises, promote the innovative development of green trade, cross-border trade, and bonded maintenance. Various regions have actively introduced relevant policies to promote stable growth in foreign trade. Hangzhou Customs has introduced 10 measures to support the high-quality development of cross-border e-commerce in Zhejiang Province, promoting the development of cross-border e-commerce in Zhejiang Province through further innovation in models, improvement in service capabilities, and optimization of regulatory systems; Shenzhen has implemented 24 specific measures to increase import and export credit support, optimize cross-border settlement services, enrich supporting financial support, and support the stable scale and optimal structure of foreign trade in the financial industry; Sichuan Province has comprehensively improved the high-quality development level of cross-border e-commerce by cultivating local overseas brands, enhancing the quality and efficiency of cross-border e-commerce development, and improving the service supervision system. Regarding the next trend, Wang Lingjun analyzed that the current internal and external environment is more complex, but at the same time, it should be noted that stock policies and incremental policies are continuing to exert force, and positive factors for foreign trade development are accumulating. The stable growth of imports and exports in the fourth quarter has a foundation and support. (New Society)
Edit：Yao jue Responsible editor：Xie Tunan
Source：People's Daily
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