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CHINA SEES BETTER-THAN-EXPECTED EXPORT GROWTH ON RESILIENT GLOBAL DEMAND

Time:2021-01-15 Publisher:Bridge Num:5604

According to data released by Chinese General Administration of Customs  on January 14th, in 2020, the total revenue of China's import and export of goods trade was 32.16 trillion yuan, an increase of 1.9% over 2019, a record high. Among them, exports were 17.93 trillion yuan, an increase of 4%; imports were 14.23 trillion yuan, a decrease of 0.7%; the trade surplus was 3.7 trillion yuan, an increase of 27.4%.

"In the past year, in the face of the severe and complex international situation and the severe impact of the covid-19 pandemic, China's foreign trade imports and exports were significantly better than expected, and the scale of foreign trade reached a record high. China has become the only major economy in the world that has achieved positive growth in trade in goods. It fully reflects the strong resilience and comprehensive competitiveness of Chinese foreign trade." Li Kuiwen, spokesperson of Chinese General Administration of Customs and Director of the Statistics and Analysis Department, said at a press conference on the 14th. The total revenue of import and export of goods trade of 32.16 trillion yuan is benefited from the advantages of China's super-large-scale market and the ever-increasing competitiveness of enterprises.

Recently, the lowest temperature in Suzhou, Jiangsu Province is close to zero degrees Celsius, and the Wuzhong Comprehensive Bonded Zone in the south of Suzhou City is still a hot scene. According to data from Suzhou Customs, in 2020, the value of goods entering and leaving the zone under classified supervision of the comprehensive protection zone is 4.97 billion yuan, an increase of 95% compared with 2019.According to World Trade Organization calculations, in the first 10 months of 2020, China's international market share of imports and exports, exports, and imports accounted for 12.8%, 14.2% and 11.5%, respectively, up 0.8, 0.4 and 0.7 from the historical highs. Percentage points. China's status as the largest country in trade in goods has been consolidated. Says Li. "China's ultra-large-scale market advantages provide strong support for the expansion of imports." Li said that under the influence of the pandemic, global trade has shrunk sharply, while China's ultra-large-scale market advantages have become more obvious and import demand has stabilized. In 2020, China's imports of resource-based products such as crude oil and metal ore will increase by 7.3% and 7% respectively. At the same time, the export of China's traditional superior products continued to grow. The export of mechanical and electrical products for the year was 10.66 trillion yuan, an increase of 6%. The export of notebook computers, household appliances, medical instruments and equipment increased by 20.4%, 24.2%, and 41.5% respectively.

Data show that in 2020, China has 531,000 import and export enterprises, an increase of 6.2%. The annual import and export of private enterprises was 14.98 trillion yuan, an increase of 11.1%, accounting for 46.6% of China's total foreign trade value.

Statistics show that in 2020, new forms of China's foreign trade has flourished. Customs has carried out innovative cross-border e-commerce business-to-business (B2B) export pilot projects. Cross-border e-commerce imports and exports throughout the year were 1.69 trillion yuan, an increase of 31.1%, and market procurement exports increased by 25.2%. The new format has become an important force in stabilizing foreign trade.

GLA official industry news will focus on Chinese international logistics industry, helping GLA members to know about Chinese business status at first time.

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