Increase policy support to stimulate new drivers of foreign trade growth

The State Council’s executive meeting recently deployed measures to further stabilize foreign trade and foreign capital. What is China’s foreign trade situation in the second half of the year? How to maintain steady foreign trade? How to stimulate the growth potential of foreign trade? At the regular briefing on the policies of the State Council held by the State Council Reform Office on the 27th, the heads of relevant departments made a presentation.

The development of foreign trade is facing a slowdown in the growth of foreign demand. According to the data previously released by the General Administration of Customs, the total import and export value of China’s goods trade in the first eight months of this year was 27.3 trillion yuan, with a year-on-year growth of 10.1%, continuing to maintain a double-digit growth.

Wang Shouwen, the International Trade Negotiator and Vice Minister of the Ministry of Commerce, said that despite the steady growth, the current external environment is becoming increasingly complex, the growth rate of the world economy and global trade has slowed down, and China’s foreign trade is still facing some uncertainties. Among them, the slowdown in foreign demand is the biggest uncertainty facing China’s foreign trade.

High Mast Lighting3

Wang Shouwen said that, on the one hand, the economic growth of major economies such as the United States and Europe slowed down, resulting in a decline in import demand in some major markets; On the other hand, high inflation in some major economies has increased the crowding out effect on general consumer goods.

A new round of stable foreign trade policies was introduced. On the 27th, the Ministry of Commerce issued Several Policies and Measures to Support the Stable Development of Foreign Trade. Wang Shouwen said that the introduction of a new round of stable foreign trade policy will help enterprises to rescue. To sum up, this round of policies and measures mainly includes three aspects. First, strengthen the ability of foreign trade performance and further develop the international market. Second, we will stimulate innovation and help stabilize foreign trade. Third, we will strengthen our ability to ensure smooth trade.

Wang Shouwen said that the Ministry of Commerce will continue to work with relevant local authorities and departments to closely monitor the operation of foreign trade and do a good job in analyzing, studying and judging the situation. We will do a good job in organizing and implementing the new round of foreign trade policies, and strive to provide good services for the majority of foreign trade enterprises to reduce costs and increase efficiency, so as to ensure the completion of the goal of maintaining stability and improving quality of foreign trade this year.

Jin Hai, Director of the General Business Department of the General Administration of Customs, said that the customs would continue to strengthen the release and interpretation of import and export data, guide market expectations, further help foreign trade enterprises to grasp orders, expand markets and solve difficult problems, and use policy measures to stabilize foreign trade entities, market expectations and customs clearance operations, so that policies can truly translate into benefits for enterprises.

Post time: Sep-30-2022