China’s foreign trade surged despite difficulties and set new records

Tang Sheng, who works in cross-border e-commerce, has been particularly busy the past couple of months as he has had to prepare orders and products and book cargo ships. “I’m selling tools on Amazon. In the first quarter of this year, I didn’t get a good performance because of the soaring price of raw materials and the recovery from the epidemic in China,” he said.

“Fortunately there were spikes in orders in May and June. The port was crowded when there was a lot of activity. I’m glad it’s busy,” he continued.

The photo shows the bustling atmosphere of Nansha Port near Longxue Island in Nansha District of Guangzhou, south China’s Guangdong Province, July 10, 2022. (Wei Jinsong/Pic.people.com. c)

Tang Sheng prepared the goods a month and a half in advance after Amazon’s Prime Day dates were announced this year. This is an annual sales event exclusively for Prime members of the e-commerce giant.

“I got a lot more orders this year. There was a lot of logistics business going on at the ports of Guangzhou,” Tang said. Container shortages have been reduced and the freight price has dropped significantly from its peak of 30 yuan per kilogram to around 18 yuan today, largely relieving cost pressure for foreign trade companies.

On July 21, 2022, the single-track trains that will be exported to Thailand are assembled at the factory of CRRC Puzhen Alstom Transportation System Co., Ltd. in the Wuhu Economic and Technological Development Zone of Anhui Province (East China). (Xiao Benxiang/Pic.people.com.cn)

According to customs statistics, China’s exports and imports of goods increased by 9.4% year-on-year in the first half of 2022. The total volume of imports and exports increased by 9.5%, respectively. % and 14.3% in May and June, reversing the downward trend in April caused by the resumption of the epidemic. Imports and exports grow at an accelerated rate each month, which means that foreign trade has started to grow again. This V-shaped recovery laid a solid foundation for sustained growth in foreign trade throughout the year.

China’s foreign trade, with strong growth despite the difficulties, reached two new records. From January to June this year, the country’s total import and export volume of goods reached a record 19,802.2 billion yuan. In June, that number surpassed 3.7 trillion yuan and exports surpassed 2.2 trillion yuan, setting new records for monthly figures.

On July 20, 2022, workers make clothing for export at the factory of a clothing manufacturing company in Fanchang District of Wuhu City, East China’s Anhui Province. ). (Xiao Benxiang/Pic.people.com.cn)

Foreign trade advances at an accelerated pace and improves quantitatively. The proportion of general trade as well as imports and exports with major trading partners continues to increase. In addition, foreign trade entities have become more dynamic. Imports and exports of the main products maintain steady growth. As of June 2022, China’s foreign trade has achieved positive growth for eight consecutive quarters.

The total volume of imports and exports increased each month thanks to macroeconomic stability, strong domestic production demand potential and the rapid recovery of foreign trade in some regions of the country.

Foreign trade would not have experienced the V-shaped recovery without the country’s supportive policies. For example, to ensure the smooth logistics of COVID-19 vaccines, the General Administration of Customs (AGD) supervised the entire customs clearance process and checked the declaration documents submitted by the companies in advance, so that they no longer open the packages of the vaccines to transport the control and considerably reduce the wait during customs clearance.

“China’s exports recovered very quickly in May because growth resumed after COVID-19,” said Huo Jianguo, vice president of the Chinese Society for World Trade Organization (WTO) Studies. “The good performance of foreign trade would not have been possible without China’s efforts to eliminate unfavorable factors that affect foreign trade, such as opening ‘green lane’, express customs clearance mode and prioritizing foreign trade companies in shipment of goods. . In general, the policies to promote the resumption of work and the fluidity of logistics have borne fruit”, he said.

In the future, the important thing is to optimize the stability and quality of foreign trade, said Liang Ming, director of the international trade institute at the Chinese Academy of International Trade and Cooperation. By maintaining the total volume of China’s exports and imports, as well as its stable share of the international market, China will improve the quality and economic performance of foreign trade so as to achieve high-level opening.

Today, AGD carried out special actions and implemented facilitation measures in 10 Chinese cities. It also made efforts to shorten customs clearance times. Reforms were implemented to promote administrative simplification. As a result, to register with Customs, more than 90,000 companies were able to merge multiple declarations into one, to obtain a single consolidated business license thanks to the automatic sharing of information between Customs and other authorities governing industry and commerce. AGD continued the integrated reform across all its services and made trade even easier.

“The Chinese economy is resilient, with strong potential, and the economic fundamentals that will support long-term growth remain unchanged in China. Foreign trade is expected to maintain steady growth,” said spokesman Li Kuiwen. AGD

(By Kong Dechen)

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