"Import from China" provides support for stabilizing the economy at home and abroad (open talks)

At present, the overseas epidemic situation is spreading and spreading, and the international economic situation is undergoing new major changes. The trade activities of various countries have obviously decreased, the flow of people, logistics and capital has been significantly hindered internationally. The turbulence in the global industrial chain and supply chain has intensified. The growth of the world economy and trade has been seriously affected. China's domestic economic development is also facing severe challenges.

In recent years, China has promulgated and implemented a series of policy measures to expand imports. China has repeatedly emphasized on various important occasions to proactively expand imports. The world needs China, and China needs the world. During the global spread of the epidemic, it is of special strategic significance for China to effectively carry out import work, stabilize imports and expand imports.

The epidemic highlights the role of "Chinese imports" in promoting and safeguarding domestic economic development

In 2018, the number of enterprises with import records in China was 211,000. From the perspective of production, enterprises need to import intermediate products and raw materials. Import is a necessary condition to ensure normal production and resume production. The normal production of these enterprises will drive the operation of upstream and downstream supporting enterprises in the industrial chain, which will affect domestic employment. From the perspective of domestic consumption, China has imported a large amount of various consumer goods in recent years, both to ensure the livelihood of people's livelihood and to meet the needs of consumer upgrades with high-quality products. It is also very important to stabilize the import of agricultural products, food, scientific and technological life products, and quality life products. In addition, after the epidemic, there may be a rebound in foreign demand. The rebound in demand is a business opportunity. For foreign trade companies to seize the opportunity, they must prepare in advance and make strategic reserves of imported intermediates and raw materials.

The epidemic situation further highlights the supporting role of "Chinese imports" in the stable development of the world economy-

Different countries are affected to different degrees by the epidemic situation. Some countries with severe epidemic situations have expanded the scope of work stoppages and production, and their supply capacity has also greatly weakened. Under such circumstances, on the one hand, Chinese companies' imports of products from countries with severe epidemics will be restricted, and they may need to find new partners in other countries; on the other hand, some countries may also export to countries with severe epidemics. Affected, it is necessary to seek new markets, especially to develop the Chinese market. The superposition of these two aspects will greatly enhance the diversification of China's import sources. In the context of a significant decline in trade activity among countries, China ’s active expansion of imports is conducive to the economic development of importing countries, and is conducive to supporting the stable development of the world economy. It is also a manifestation of China ’s responsible major powers. There is no doubt that during the epidemic period, China's imports will become a strong support for the stable development of the world economy.

China is committed to building an import platform to reduce import costs, and will further stimulate import potential ——

China has built two major import platforms: China International Import Expo and Import Trade Promotion Innovation Demonstration Zone, both of which play an important role in actively expanding imports. China will continue to hold the third China International Import Expo, which will undoubtedly bring more opportunities for foreign investors. In order to reduce the cost of imports, since January 1 this year, China has imposed an interim tariff rate lower than the most-favored-nation tax rate on more than 850 commodities, and more policies are about to be implemented. At the same time, China has continuously improved the level of import facilitation, further simplified the import approval process, shortened customs clearance time, and reduced the institutional transaction costs of the import process. To mitigate the impact of poor cross-border logistics on imports, a series of measures to support the development of China-Europe trains will be introduced, which will greatly improve the convenience of China-Europe trains 'cross-border transportation, release China-Europe trains' transportation capacity, and help expand National imports.

Of course, import companies are also experiencing shortages of liquidity, obstructed cross-border logistics, rising transportation costs, and excessive fluctuations in import prices. They need to take precise measures to solve the difficulties, blockages and pain points encountered by foreign trade companies in imports. For example, in order to effectively alleviate the shortage of funds for productive import enterprises, in addition to a series of policies that have been implemented such as increasing credit, accelerating export tax rebates, and lowering taxes, special funds can also be set up to provide companies with large interest-free loans or funds stand by. At the same time, the government can come forward to coordinate and negotiate with the country of origin of irreplaceable imported products to solve the logistics and transportation problems.

In general, imports are an important hub connecting domestic and foreign economies, global industrial chains, and global supply chains. Imports are related to the supply of raw materials and intermediate products of enterprises, and to the resumption of production and survival and development of enterprises. Doing a good job in imports is also to provide support for promoting production, employment, consumption, and stabilizing the domestic economy and the world economy. Chinese foreign trade companies are resilient, innovative, and capable of developing domestic and foreign markets. With the support of various national policies, they will certainly be able to overcome difficulties and contribute to the stability of the Chinese economy.

(The author is a professor at the School of Economics and Business Administration of Beijing Normal University and director of the National Import Research Center)

Wei Hao