Ministry Of Commerce: China's Foreign Trade From January To November 2019

Date:Dec 13, 2019

On December 12, 2019, the head of the foreign trade department of the Ministry of Commerce talked about China's foreign trade from January to November 2019.

Since the beginning of this year, in the face of the complex situation of the external environmental risks and challenges, the Ministry of Commerce, in line with the strong leadership of the Party Central Committee with Comrade Xi Jinping as the core, has resolutely implemented the "six stable" decision-making and deployment of the CPC Central Committee and the State Council in conjunction with all regions and departments, issued timely and stable foreign trade policies and measures, and implemented the "five optimization" and "three constructions" effectively. The foreign trade business environment, vigorously stimulate the vitality of the market main body, the foreign trade development in January November continued to maintain a stable situation of improving quality.

Stable scale

From January to November, China's import and export totaled 28.5 trillion yuan, an increase of 2.4%. Among them, export reached 15.55 trillion yuan, an increase of 4.5%; import reached 12.95 trillion yuan, basically the same as the same period last year; trade surplus reached 2.6 trillion yuan, an increase of 34.9%. In terms of monthly scale, the total import and export volume in November was 2.86 trillion yuan, the highest level in this year. From the perspective of international comparison, according to the latest data of WTO, in the first three quarters, China's export growth rate was higher than the average growth rate of major global economies.

Continuous optimization of structure

The layout of the international market is more reasonable and balanced, with the import and export to emerging markets increasing by 5.3%, accounting for an increase of 1.7 percentage points to 59.5% compared with the same period last year. Among them, the growth of imports and exports by the countries along the "belt and road" has increased by 9.9%, representing an increase of 2 percentage points to 29.3%. Imports and exports to ASEAN, Latin America and Africa increased by 12.7%, 6.8% and 5.7% respectively. China's regional layout is more balanced, with exports from the central and western regions growing by 13.3%, up 1.4 percentage points to 18.3% compared with the same period last year. The commodity structure continued to be optimized, and the export of mechanical and electrical products increased by 4%, accounting for 58.4%. Seven categories of labor-intensive products, such as clothing, textiles, furniture, shoes, plastics, toys, bags and so on, were upgraded in terms of grade and added value, with exports increasing by 5.7% and boosting exports by 1.1%. The main body of private enterprises has been growing in vitality, with exports increasing by 12.4%, accounting for 3.6 percentage points to 51.4%. General trade is resilient, with exports up 7.8%, up 1.8 percentage points to 58%.

Continuous improvement of quality

The export of high-quality, high-tech and high value-added products is growing rapidly. The export unit prices of integrated circuits, photovoltaic, machine tools, medical devices, etc. increased by two figures. We will continue to promote institutional innovation, management innovation and service innovation, and further improve the business environment for the development of new forms and models of foreign trade. The import and export of cross-border e-commerce retail increased by 20%, with 35 comprehensive test areas driving 168 supporting parks and more than 10000 enterprises to transform and upgrade, improve quality and efficiency. The number of overseas warehouses is more than 1000, and the service scope is global. The export of used cars and bonded maintenance of processing trade have been steadily promoted. New formats have become new highlights of foreign trade growth and new driving forces of transformation and upgrading.

Recently, the CPC Central Committee and the State Council issued the guiding opinions on promoting the high-quality development of trade, clearly strengthening the innovation of science and technology, system, mode and business type, promoting the coordinated development of import and export, goods trade and service trade, trade and two-way investment, trade and industry, and realizing the high-quality development of trade. Next, we will take the high-quality development of foreign trade as the command, enhance the trade innovation ability, actively cultivate new business forms, optimize the international market layout, promote the upgrading and gradient transfer of processing trade, actively expand imports, effectively reduce the institutional cost of trade, continuously improve the level of trade facilitation, and create a good business environment.