(Economic Observation) Interview with the former Vice Minister of the Chinese Ministry of Commerce: China is expected to become the world's largest market this year

  China News Agency, Beijing, May 17 Question: Interview with the former Vice Minister of the Chinese Ministry of Commerce: China is expected to become the world's largest market this year

  China News Service reporter Li Xiaoyu

  Wei Jianguo, the former vice minister of the Chinese Ministry of Commerce, predicted in an exclusive interview with China News Agency that China ’s consumption scale is expected to reach 45 trillion yuan (RMB, the same below) this year, making it the world ’s largest market; foreign investment is also expected to exceed last year.

New consumption will continue to blow out

  The epidemic has spawned a large number of new formats and models in China. E-commerce has a "blowout", Chinese e-commerce sales have generally increased rapidly during the "May Day" holiday, and sales growth on some platforms has exceeded 40%; "live streaming" has quickly become popular, and the number of e-commerce live broadcasts and the number of live products in the five days Increased by 1 times and 4.7 times respectively, many mayors and county magistrates personally started the "carry mode".

  Wei Jianguo said that the current average daily parcel in China has exceeded 100 million pieces, and logistics will be further accelerated in the future; e-commerce is targeting consumer groups with potential for continued development, such as the elderly; local consumption encouragement policies continue to increase, and new consumption will continue to be rapid Growth and lead the global consumer market. Based on these favorable conditions, the total retail sales of consumer goods in China this year is expected to increase from about 40 trillion yuan to 45 trillion yuan last year, surpassing the United States and becoming the world's largest market.

  In his view, if China can seize the opportunities brought by the emergence of new formats and models such as live streaming, it will not only boost consumption growth, but also promote consumption upgrades and achieve high-quality development.

  Wei Jianguo also reminded that China should step up its efforts to further improve the relevant laws and regulations in response to the ills of some e-commerce platforms, such as counterfeit and substandard, substandard filling, which affect consumer confidence and restrict the healthy development of consumption.

China's cross-border e-commerce may take the global "top spot"

  China's foreign trade trend is currently receiving much attention. According to official data, China ’s exports in April increased by 8.2% year-on-year, more than double the growth rate of the same period last year, and it seems that it has been nearly “no extreme Thai”; The foreground is overshadowed.

  In this regard, Wei Jianguo said that the unique advantage of China ’s foreign trade lies in the integration of three trade methods: processing trade, general trade, and cross-border e-commerce, which is conducive to providing "decompression valves" and "shock cushions" when exports are hit. . Especially since the outbreak of cross-border e-commerce has developed rapidly, many companies have used cross-border e-commerce to obtain more orders in the European and American markets. Today, cross-border e-commerce has become a "vibrant cell" of China's foreign trade, which will provide strong support for foreign trade to overcome difficulties. This year, China's cross-border e-commerce is likely to take the top spot in the world.

  He predicts that China's foreign trade trend will be "low before high" in 2020: it will continue to recover in the second quarter, higher in the third quarter, and "tail tail" in the fourth quarter.

This year China is expected to absorb more foreign capital than last year

  Affected by the epidemic, the prospects for global cross-border investment this year are not good, but China's absorption of foreign capital has risen against the trend. According to Chinese statistics. In April, China's actual use of foreign capital increased by 11.8% year-on-year, not only reversing the decline in March, but also much higher than the level of 6.3% in the same period last year.

  In Wei Jianguo's view, China's absorption of foreign capital this year is expected to increase to 150 billion US dollars on the basis of last year for three reasons: first, China has implemented a new foreign investment law this year, paying more attention to the promotion and encouragement of foreign investment; second, China is Effectively improve the business environment and strengthen the protection of intellectual property rights, which helps to stabilize the expectations of global investors; third, China ’s attractiveness for investors has increasingly shifted from cost to market, and foreign companies ’investment in China can be as close as possible to China ’s huge scale. The market responds to the needs of Chinese consumers as quickly as possible, reducing costs and maximizing benefits. These changes make China still attractive to global investors.

  He expects that China will continue to grow foreign capital this year, and China will remain the first choice for more and more multinational companies. (Finish)