Recently, the General Department of the Ministry of Commerce and the Chinese Academy of International Trade and Economic Cooperation released a report on China’s foreign trade situation in the fall of 2020.

Since 2020, in the face of the sudden pandemic and the complex and severe domestic and foreign situation, China’s foreign trade has stabilized and improved, the scale of trade and international market share have increased, the trade structure has continued to be optimized, the business model has continued to innovate, and the new development pattern of services has been effective and effective , and has played an important role in promoting the recovery of the world economy and global trade. According to the report, the long-term positive trend of China’s foreign trade development has not changed.

 

The report pointed out that in the first 10 months, China’s total import and export of goods was 25.95 trillion yuan, an increase of 1.1% year-on-year (the same below). Among them, exports were 14.33 trillion yuan, an increase of 2.4%; imports were 11.62 trillion yuan, a decrease of 0.5%; the surplus was 2.71 trillion yuan, an increase of 16.9%. Among them, the total exports of seven categories of labor-intensive products such as clothing totaled 2.96 trillion yuan, an increase of 9%, accounting for 20.6% of the total exports, an increase of 1.3 percentage points over the same period last year. Driven by the global demand for anti-pandemic materials, the total export of textiles, including masks, was 1.14 trillion yuan, an increase of 33.7%. Among them, the export of textile products was 908.41 billion yuan, an increase of 121.9%.

 

The overall operation of foreign trade presents the following characteristics: the proportion of emerging markets has further increased, and the international market layout has become more optimized; the proportion of foreign trade in the central and western regions has increased, and the domestic regional layout has become more balanced; the driving role of mechanical and electrical products has become prominent, and the commodity structure has continued to upgrade; key commodity imports growth trend is obvious, and the structure of imported goods is more optimized; the leading role of private enterprises is prominent; the proportion of general trade has increased, and the trade mode has been continuously optimized; the development of new business forms and new models has accelerated, and the conversion of new and old momentum has accelerated.

 

Regarding the development environment of China’s foreign trade in 2021, the report pointed out that the global pandemic may persist, trade and investment restrictions may increase, and other factors will make the overall global economy difficult to recover.

 

At the same time, we must also see that the fundamentals of the long-term improvement of the domestic economy have not changed, the overall momentum of stable and positive development of foreign trade has not changed, and there are still many favorable conditions supporting the development of foreign trade. First, there is a long way to go for the recovery of the world economy. Second, there is a solid foundation and favorable conditions for the innovative development of foreign trade.