(Fighting new crown pneumonia) Hedge epidemic affects China's efforts to stabilize foreign trade
China News Agency, Beijing, March 12 (Reporter Li Xiaoyu) China continues to increase its efforts to stabilize foreign trade and foreign investment. On the 10th, Premier Li Keqiang of the State Council of China hosted an executive meeting of the State Council, which clearly provided greater support to foreign trade companies in credit and taxation, while further reducing the negative list of foreign investment access.
Affected by the epidemic, China's foreign trade, especially its export situation, is currently not optimistic.
According to official data, China ’s exports from January to February this year were 2.04 trillion yuan (RMB, the same below), down 15.9%; imports were down 2.4%; the trade deficit was 42.59 billion yuan, compared with a surplus of 293.48 billion yuan in the same period last year.
Zhao Ping, director of the International Trade Research Department of the China Council for the Promotion of International Trade, said in an interview with reporters that due to the epidemic, it is difficult for foreign trade companies to complete existing orders and obtain new orders. The cost of exporting goods has increased, and some foreign trade routes have even been interrupted. The severity of foreign trade this year is unprecedented.
Previously, due to the spread of the epidemic globally, the International Monetary Fund (IMF) has reduced its global economic growth forecast for this year to 2.9%. Against the background of weak external demand, China's foreign trade is expected to face greater challenges in the future, and we need to plan ahead as soon as possible.
Intensifying efforts to stabilize foreign trade is also necessary to maintain China's position in the global industrial chain and supply chain.
Bai Ming, deputy director of the International Market Research Institute of the International Trade and Economic Cooperation Research Institute of the Ministry of Commerce of the People's Republic of China, believes that if Chinese foreign trade enterprises cannot resume normal production and operation as soon as possible, foreign customers may find other partners, which is not good for the long-term development of China's foreign trade. China's industrial chain and supply chain security are also unfavorable.
The executive meeting of the State Council made it clear that all export products that have not been fully refunded except the "two highs and one capital" are refunded in full and on time; policies such as deferred loan repayment and interest payment have been implemented, and are affected by the epidemic and have a promising future. Foreign trade companies can negotiate for an extension; support commercial insurance companies to develop short-term export credit insurance business and reduce their rates; do a good job of preparing for the Spring Canton Fair.
The meeting also specifically proposed that financial institutions should be guided to actively connect with core companies in the industry chain, increase liquidity loan support, and give reasonable credit lines.
For foreign trade companies suffering from financial constraints, difficulties in fulfilling contracts, and difficulty in receiving orders, these measures will undoubtedly hit their pain points in production and operation, which will help reduce the burden on enterprises and enter the battlefield lightly.
It is also time to stabilize foreign investment. At present, the impact of the epidemic on China's absorption of foreign capital has begun to appear. According to official data, China ’s actual use of foreign investment in January this year increased by 4% year-on-year, a decrease of 0.8 percentage points from the same period last year.
Zong Changqing, director of the Foreign Investment Department of the Ministry of Commerce of the People's Republic of China, admitted to reporters that the epidemic situation has caused investors to wait and wait to increase their mentality, which has put pressure on China's steady investment and promotion of investment this year, making the situation of investment more complicated and severe.
The reporter learned in the interview that a major problem encountered in the process of resuming production and operation of foreign companies in China is the uneven progress in the resumption and production of various links in the industrial chain, which has caused problems for foreign companies in the supply of raw materials and product transportation.
In this regard, the meeting made it clear that, while implementing precise prevention and control in different areas and regions, the various sectors and departments must orderly promote the resumption of production and production across the industry chain. It is necessary to strengthen overall guidance and coordination of services, and to open up the blocking points of the industrial chain and supply chain. Leading enterprises will be used to drive supporting enterprises to enhance the momentum of coordinated resumption of production and production.
The meeting also proposed that we should step up efforts to further reduce the negative list of foreign investment access. Expand the catalog of industries that encourage foreign investment.
If it is said that opening up the industrial chain and supply chain is an urgent need to resolve foreign companies' short-term problems, then to continue to expand market access and improve the business environment is to take a long-term view and fundamentally "settle the mind" for enterprises. With the combination of long and short term, stabilizing foreign investment will receive better results, and China's attractiveness to global investors is expected to continue to increase.
Former Minister of Foreign Economic Research Zhao Jinping of the Development Research Center of the State Council of China judged that with the precise development of the policy of stabilizing foreign investment, China's foreign investment absorption is expected to grow moderately this year. (Finish)