(Economic Observer) China's third quarterly foreign trade report highlights eight highlights

  China News Service, Beijing, October 13th, title: China's third quarterly foreign trade report highlights eight highlights

  China News Agency reporter Li Xiaoyu

  The third quarterly report of China's foreign trade was announced on the 13th.

As global trade shrinks due to the epidemic, China's foreign trade scale, quality, and share have all increased, showing eight bright spots.

The cumulative growth rate of imports and exports turned positive for the first time this year

  According to customs statistics, the total value of China's import and export of goods trade in the first three quarters was 23.12 trillion yuan (RMB, the same below), an increase of 0.7% over the same period last year, marking the first time this year that it turned from negative to positive.

Li Kuiwen, a spokesperson for the General Administration of Customs, said that the overall performance of foreign trade imports and exports was "better than expected."

The third quarter performance hit a record high

  In the third quarter, China’s imports and exports were 8.88 trillion yuan, a year-on-year increase of 7.5%, of which exports were 5 trillion yuan, an increase of 10.2%, and imports were 3.88 trillion yuan, an increase of 4.3%.

The total value of imports and exports, total exports, and total imports in the third quarter all hit a quarterly record high.

Among them, the monthly export in July reached a record high, and the import and export and import value in a single month in September reached a record high.

International market share does not fall but rises

  According to statistics published by the WTO, China's international import and export market share was 12.6% from January to July, of which export share was 13.8%, and import share was 11.3%, up 1, 1.1 and 0.8 percentage points year-on-year respectively.

The international market share of import and export, export and import all hit a record high.

  The increase in international market share shows that China's foreign trade has divided a larger "cake" in the global market and its competitiveness has been further enhanced.

New business formats such as cross-border e-commerce are popular

  Under the epidemic situation, new forms and models of foreign trade represented by cross-border e-commerce ushered in "explosive growth", providing important support for stabilizing foreign trade.

In the first three quarters, China imported and exported 187.39 billion yuan through the customs cross-border e-commerce management platform, a year-on-year increase of 52.8%; market procurement exports were 509.86 billion yuan, an increase of 35.5%.

"Made in China" export competitiveness strengthened

  In the first three quarters, the import and export of general trade, which has a longer industrial chain and better reflects the level of manufacturing development, increased by 2.1%, and its share increased by 0.8 percentage points from the same period last year to 60.2%, indicating that the quality of China's foreign trade has further improved.

  During the same period, China's exports of mechanical and electrical products increased by 3.2%, and the proportion of total exports increased by 0.8 percentage points over the same period last year.

Among them, the exports of computers and integrated circuits with higher technological content and added value increased by 16.9% and 14.9% respectively.

Significant growth in imports and exports of private enterprises

  In the first three quarters, the import and export of Chinese private enterprises increased by 10.2%, and their proportion increased by 4 percentage points to 46.1%, becoming China's largest foreign trade operator.

Among them, private enterprise exports grew at a rate of 10% year-on-year, accounting for 55.2% of China's total exports.

  Private enterprises have always been known for their quick response and strong resilience, and they are the "stabilizers" of foreign trade.

The increase in the proportion of private enterprises means that China has a more solid foundation for stabilizing foreign trade.

The expansion of domestic demand stimulates imports to pick up

  China's economic recovery ranks in the forefront of the world's major economies, leading to a significant rebound in imports.

In the first three quarters, China's imports of integrated circuits increased by 16.6%, and imports of grain, meat and pharmaceuticals also increased by 20.7%, 87.3% and 10.5% respectively.

This not only meets the needs of domestic production and the people, but also helps the recovery of the global economy and trade.

Trading partners are becoming more diverse

  Since the beginning of this year, China's trade diversification strategy has continued to advance.

In the first three quarters, ASEAN continued to be China's largest foreign trade partner, with imports and exports increasing by 7.7%, accounting for 14.6%.

During the same period, China's imports and exports to Japan and South Korea increased by 1.4% and 1.1% respectively, and imports and exports to countries along the “Belt and Road” increased by 1.5%.

  The diversification of trading partners means that China's dependence on one or several markets is reduced, which is conducive to reducing the risk of excessive market concentration.