Running in the New Year, China’s foreign trade continues to break through the trend
CCTV News:Foreign trade is one of the "Troika" driving China’s economy. However, due to the complicated international situation, COVID-19 epidemic and other unexpected factors, China’s foreign trade is facing severe challenges. In the face of risk challenges, the CPC Central Committee actively deployed and calmly responded, and made "stabilizing foreign trade" a major focus of the "six stability" work. Relevant departments have also successively issued a series of policies and measures to further promote high-level opening up, support the growth of foreign trade and optimize the business environment. With the effective implementation of relevant measures, the effect of China’s foreign trade in resisting multiple pressures and increasing quality has gradually emerged. Today’s "Running in the Spring Festival" series focuses on China’s foreign trade. We focus on the following questions. What achievements has China made in foreign trade under the influence of multiple unexpected factors? How does foreign trade promote China’s economic recovery? How will China’s foreign trade continue to break through the trend in 2023?
Withstand the risk test, China’s foreign trade scale has reached a new high.
Let’s look at the first question first. The relevant person in charge of the Ministry of Commerce said on the 2nd that in 2022, China’s foreign trade stood all kinds of risk tests, and the scale reached a record high, with the import and export of goods reaching 42.1 trillion yuan, maintaining the status of the world’s first trader of goods for six consecutive years.
From the perspective of foreign trade, the scale of foreign trade reached a record high in 2022, and the import and export of goods exceeded 40 trillion yuan, an increase of 7.7%. The trade structure has also been continuously optimized, and the import and export of private enterprises has increased by 12.9%, accounting for more than 50%. Trade in services grew steadily, with the import and export of services reaching 5.98 trillion yuan, an increase of 12.9%.
In 2022, China’s foreign trade successfully achieved "stability and quality improvement""target
According to the relevant person in charge of the Ministry of Commerce, in 2022, China’s foreign trade has withstood various risk tests and successfully achieved the goal of "maintaining stability and improving quality". Generally speaking, in 2022, China foreign trade station reached a new height, released new kinetic energy and made new contributions.
A new height, in 2022, the import and export scale of China reached a new record high, reaching 42 trillion yuan, breaking through the 40 trillion yuan mark. In dollar terms, it reached $6.3 trillion, which is a new breakthrough above the ultra-high base in 2021. China has maintained its position as the largest country in goods trade for six consecutive years.
New kinetic energy. In 2022, electric vehicles, photovoltaic products and lithium batteries will become new growth points for China’s high-tech, high-added products and lead the green transformation. In 2022, the export of electric vehicles increased by 131.8%, photovoltaic products increased by 67.8%, and lithium batteries increased by 86.7%. At the same time, new foreign trade formats such as cross-border e-commerce and market procurement trade are also booming, with the import and export scale exceeding 3 trillion yuan, accounting for more than 7% of foreign trade.
New contribution: From the domestic perspective, the contribution rate of net exports of goods and services to GDP growth reached 17.1% in 2022, driving GDP growth by 0.5 percentage points. Internationally, under the background of the turbulent global economic and trade environment, China has taken effective measures to stabilize production and export, ensuring the smooth operation of the global industrial chain supply chain.
Promote trade facilitation and take various measures to expand the cross-border use of RMB
Enterprises actively "go out to sea" to grab orders, promote economic stability and foreign trade, and the government and relevant departments also "take the initiative". A few days ago, the Ministry of Commerce and the People’s Bank of China issued a circular to further support foreign trade enterprises to expand the cross-border use of RMB and promote trade and investment facilitation.
The circular calls for facilitating the settlement of all kinds of cross-border trade and investment in RMB, and promoting banks to provide more convenient and efficient settlement services. Encourage banks to carry out overseas RMB loans to better meet the cross-border RMB investment and financing needs of enterprises. Facilitate cross-border RMB settlement of goods trade, service trade and various new trade formats, support RMB pricing settlement of bulk commodities, and support foreign investors to invest in China and reinvest in China. Efforts will be made to increase support for small and medium-sized enterprises, facilitate their use of RMB for settlement in cross-border trade and investment, avoid exchange rate risks and reduce exchange costs.
Xuan Changneng, Vice Governor of China People’s Bank:At present, nearly half of the cross-border transactions carried out by various entities in China have been settled in RMB. In the next step, the People’s Bank of China will further consolidate the institutional foundation of cross-border RMB business, improve the infrastructure construction of cross-border RMB use, and create a more friendly policy environment for domestic and foreign entities to hold and use RMB.
Liao Lin, President of China Industrial and Commercial Bank:We have set up a special financing support plan for cross-border RMB business of 450 billion yuan, focusing on supporting advanced manufacturing, strategic emerging industries, specialization and innovation, modern agriculture, green, infrastructure, Pratt & Whitney, foreign trade and foreign investment, and accurately matching preferential interest rates to fully meet the needs of market participants for cross-border investment and financing.
Vice Minister of Commerce Guo Tingting:We will continue to implement policies based on solving the "urgent difficulties and worries" of enterprises, help more enterprises to carry out cross-border RMB business, promote trade and investment facilitation, and improve the quality and level of trade and investment cooperation.