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By Jerry | 04 November 2018 | 0 Comments

Analysis of the situation of China's foreign trade industry in 2017

Summary of the report hall: in 2016, traditional foreign trade advantages were gradually weakened, emerging competitive advantages needed to be formed, and China's foreign trade maintained weak operation.What will be the situation of China's foreign trade industry in 2017?
In 2016, traditional foreign trade advantages were gradually weakened, and emerging competitive advantages needed to be formed. China's foreign trade maintained weak operation.What will be the situation of China's foreign trade industry in 2017?
According to customs statistics, China's total import and export value of goods was 24.33 trillion yuan in 2016, down 0.9 percent from 2015.Of this, exports were 13.84 trillion yuan, down 2 percent.Imports were 10.49 trillion yuan, up by 0.6%.The trade surplus was 3.35 trillion yuan, narrowing by 9.1 percent.
Looking ahead to 2017, the world economy has insufficient growth momentum and the improvement of external demand is limited. There is still downward pressure on the domestic macro economy, and China's import and export situation is still unlikely to improve significantly.
Analysis of the situation of China's foreign trade industry in 2017: low external demand
In 2017, the foreign trade situation remained complex and grim, with foreign demand sluggish, trade protectionism intensifying, uncertainties and destabilizing factors increasing, and downward pressure on foreign trade increased.
He pointed out that since the reform and opening up, China has made full use of internal and external favorable conditions and opportunities, and foreign trade has achieved rapid development for more than 30 years.China's economic development has entered a new normal with its traditional comparative advantages weakened. The international environment and domestic development conditions for China's foreign trade development have undergone profound changes, and China's foreign trade development has entered a new stage.
"The value of China's exports in a month is about the value of China's exports in a year ago, about the value of some developing countries' exports in a year now."Sun said that with the rising cost of labor, land, resources and other production factors in China, the environmental carrying capacity has reached or is close to the upper limit, and the traditional advantages of low-cost manufacturing have been significantly weakened.Facing the new situation, we must unswervingly push forward supply-side structural reform, accelerate the transformation of the pattern of foreign trade development, adjust the structure to become more dynamic, consolidate and upgrade our traditional competitive advantages, cultivate new competitive advantages, promote the transformation of foreign trade to high-quality and superior prices and superior import and export, consolidate the position of a major trading nation, and advance the process of a powerful trading nation.
He said that the ministry of commerce will jointly with relevant departments, one thousand party hundreds of steady growth, firm structure, with greater efforts pays special attention to the related policies and measures of implementation, for foreign trade enterprises to reduce power and create a good external environment, support enterprises to expand the international market, we will continue to implement the import policy actively, efforts to achieve foreign trade continue to stabilize.
As for the development stage of China's foreign trade, China's foreign trade has entered a new stage with profound changes in the domestic and foreign conditions for the development of foreign trade, according to analysis of 2016-2021 China's market operation and industrial development trend research report released by China report hall.
Taking exports as an example, China has been exporting more than 2 trillion us dollars continuously since 2012, and it is the only country in the world that has exported more than 2 trillion us dollars.At present, China's exports in a month is equal to the exports in a year more than ten years ago, and the exports in a year in developing countries.However, as the cost of production factors such as labor, land and resources increases, the bearing pressure of environmental resources reaches or approaches the upper limit, and the traditional advantage of low-cost manufacturing is significantly weakened.
China's foreign trade industry is facing a grim situation in 2017. We must unswervingly push forward the supply-side structural reform, accelerate the transformation of foreign trade development mode, consolidate and upgrade traditional competitive advantages, cultivate new competitive advantages, promote the transformation of foreign trade to high-quality and superior prices and superior imports and exports, consolidate the position of a major trading nation, and advance the process of a strong trading nation.
 

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