Economic Observer: What does it mean for China to become the largest trading partner of many parties?

　　(Economic Observation) What does it mean that China has successively become the largest trading partner of many parties?

　　China News Service, Beijing, February 23 (Reporter Li Xiaoyu) Under the epidemic situation, many countries have "dilute business" in trade, but China has achieved a new leap.

　　According to foreign media reports, Indian official data show that in 2020 the bilateral trade volume between India and China will reach 77.7 billion US dollars.

Although this amount is lower than in 2019, it is enough to make China India's largest trading partner.

　　In the same year, China surpassed the United States to become the EU's largest trading partner for the first time.

According to Eurostat data, in 2020 the EU imported 383.5 billion euros from China, an increase of 5.6% over the previous year; exports to China were 202.5 billion euros, an increase of 2.2%.

European and American trade has shrunk significantly compared to before the outbreak. EU imports from the United States and exports to the United States have decreased by 13.2% and 8.2% respectively.

Among the top ten trading partners of the EU in goods, China is the only one that has achieved two-way trade growth.

　　In addition, according to the latest official German data, Germany-China trade will grow by 3% against the trend in 2020, reaching a total of 212.1 billion euros.

China has been Germany's largest trading partner in the world for the fifth consecutive year.

　　Chinese officials have previously stated that China’s international foreign trade market share in 2020 will reach the highest level in history, and its status as the largest country in goods trade will be consolidated.

　　China has repeatedly become the largest trading partner of major economies, largely thanks to the prevention and control of the epidemic and the progress of restarting the economy.

　　When other countries "frozen" economic activities due to the epidemic, China, which has basically contained the spread of the epidemic, took the lead in resuming work and production. With a stable industrial chain supply chain and strong production capacity, it has continuously provided all kinds of daily necessities and supplies overseas. virus prevention materials.

Some multinational companies have even transferred the production capacity of medical supplies and "home economy" related products to China.

Under this circumstance, it is logical that China's foreign trade, especially its exports, has grown against the trend.

　　At the same time, the accelerated recovery of China's economy has also created conditions for expanding imports.

Chinese statistics show that with the positive economic growth and the increase in people's income, China imported nearly RMB 1.6 trillion of consumer goods last year, of which imports of meat, jewelry, and cosmetics all increased by more than 30%.

　　Analysts believe that this change in China's foreign trade has far-reaching effects.

　　This means that China's weight in international economic and trade cooperation will become more important.

Now, as a trade economy, it has become the only economy in the world that has achieved positive growth. China has become a partner that other countries cannot miss to push their economies out of the trough as quickly as possible.

　　One example is that, according to official Japanese data, thanks to the accelerated recovery of Chinese consumption, Japan’s exports to China in January this year increased by 37.5% year-on-year, which led to an overall increase of 6.4% in Japanese exports during the same period, rising for the second consecutive month.

　　As Pertia Kova Brooks, Deputy Director of the Research Department of the International Monetary Fund (IMF), said, China is one of the world’s economic growth engines and also plays a key role in the supply chain. It will play a very important role in the recovery of the global economy. Important role.

　　Recently, major economies have signaled their willingness to strengthen cooperation with China.

The Group of Seven (G7) recently announced a joint statement after the leaders’ meeting, stating that in line with the goal of helping all mankind have a fair and mutually beneficial global economic system, the G7 “will cooperate with other parties, especially with China. Cooperation between G20 countries in such a large economy".

　　This also means that China and even global trade will have more development opportunities.

　　Gao Lingyun, a researcher at the Institute of World Economics and Politics of the Chinese Academy of Social Sciences, said that China's importance as a global consumer market, supplier and capital provider has become increasingly prominent, and other countries have become more dependent on China.

Therefore, the steady growth of China's foreign trade not only provides support for the construction of a new domestic development pattern, but also contributes to the recovery of global trade.

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