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Why does China's foreign trade rise against the market?


China Container Industry Association recently said that since July, China's export volume has risen sharply, export container demand has soared, whether in the maritime market or China-Europe class, there is a shortage of container sources, freight soaring, turnover delay phenomenon. In response, China's Ministry of Commerce said at a regular press conference that since the beginning of this year, in order to deal with the severe challenges brought by the new crown pneumonia epidemic to the development of foreign trade, in accordance with the decision-making arrangements of the CPC Central Committee, the State Council has issued a series of policies and measures to stabilize foreign trade. China's foreign trade continued to stabilize and improve, which played an important role in ensuring the stability of the global industrial chain supply chain and promoting the recovery of the world economy.

The year 2020, So that China's foreign trade has experienced great challenges and pressures, But by the end of the year, And accidents and small surprises —— according to the customs administration, January - November, The total import and export value of China's goods trade is 29.04 trillion yuan, 1.8% more than the same period last year, In November, China's foreign trade imports and exports 3.09 trillion yuan, An increase of 7.8% over the same period last year. According to statistics, In the first three quarters of this year, China imports and exports 187.39 billion yuan through the customs cross-border e-commerce management platform, The year-on-year increase was more than 50. According to data released recently by Eurostat, The total trade in goods between the EU and China in the first three quarters was 425.5 billion euros, 3% year on year, China continues to maintain the EU's largest trading partner status...

In the context of a sharp decline in global trade, China's foreign trade as a whole showed a trend of adverse market growth. In this regard, Yu Xuejun, chairman of the supervisory board of the state-owned key financial institutions of the CBRC, analyzed the reasons at the fifth new financial forum in 2020, mainly talking about two points:

First, as a big manufacturing country, China has a complete range of industrial categories, especially in the production and manufacture of consumer goods represented by electronic consumer products, and has the advantages of industrial chain and supply chain.

"After the global outbreak of new crown pneumonia, China first controlled the spread and spread of the epidemic, and took the lead in resuming production, so that the advantages of production and manufacturing can be reflected. And many countries in Southeast Asia, such as India, are unable to recover as soon as possible because of the difficulty of halting the spread of the epidemic. As a result, many orders are now re-entered into China, there is a so-called "single explosion ." Yu Xuejun said.

Second, Related to the RMB's re-expensive pressure. Severely affected by the outbreak of new coronary pneumonia, From March this year, the Fed began to implement unlimited qe policy, Despite the rapid increase in the size of its assets, Over $7 trillion in August, And the U.S. dollar index has dropped rapidly from nearly 100 to about 91(as of press time), This has also changed the strong dollar situation since 2013. The Fed's lax monetary policy, And the apparent weakness of the dollar, That allowed the renminbi to enter the appreciation channel from May, About $7.1:1 from the beginning, It rose to $6.55:1. In the face of RMB appreciation, Many business and economic circles are all calling for the yuan not to appreciate too quickly.

However, Yu Xuejun believes that when the RMB is under pressure to appreciate, China's foreign trade situation is good, and when the RMB is under pressure to depreciate, China's foreign trade situation is not good. "Since May, China's adverse export growth has been linked to the appreciation of the renminbi in the same period. On the other hand, it is because of strong exports that the RMB appreciation pressure, the two are mutually reinforcing and mutually reinforcing relationship ." Yu Xuejun said.

"China's foreign trade has great potential, sufficient toughness, strong competitiveness, stable industrial chain, strong sense of innovation and market development ability of enterprises, and the long-term trend of foreign trade development has not changed ." Ministry of Commerce Foreign Trade Department Director Li Xingqian evaluation.
The reporter observed that although the United States, Japan, the European Union and other developed economies suffered the impact of the epidemic, but the economic resilience is strong, consumption capacity is high, China's effective control of the epidemic situation, conducive to the resumption of production in the manufacturing industry. When the rest of the world is facing difficulties in the restorative production of manufacturing industry, the foreign demand for Chinese products is naturally becoming a trend. Moreover, for a long time, the supply chain of Chinese products is relatively stable and can better meet the needs of foreign importers. In the category of consumer goods, because the foreign middle class is affected by the epidemic, can not travel and consumption, so increased in the decoration of houses, furniture, household appliances and other aspects of consumption.

In the second half of this year, Furniture and household appliances industry export orders increased significantly. According to data from Alibaba International, By the end of October, Sales in the furniture industry rose 191% year on year, The number of orders paid increased 112% from the same period last year. Furniture products such as sofa, bed, desk and chair, table and chair, children's bed are most popular in overseas markets. And according to the customs service, In China's import and export category in November, Furniture and other seven categories of labor-intensive products exported a total of $418.17 billion, An increase of 11.1 per cent, accounting for 18.8% of the total export value. China's home appliance exports grew from minus 2.8 percent in January-June to 9.7 percent in January-October, The cumulative growth rate also increased from 4.2 percent to 19.1 percent.


From: China Trade News Network

Contributor: iris


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