China's foreign trade is expected to end smoothly throughout the year

Created on 2024.12.13

According to the latest official data, the total value of China's import and export of goods in the first 11 months was 39.79 trillion yuan (RMB, the same below), a year-on-year increase of 4.9%. Among them, exports increased by 6.7% year-on-year, and imports increased by 2.4% year-on-year. In the current situation where the global economic recovery is slowing down as a whole, and trade protectionism, unilateralism and geopolitical conflicts are intertwined, it is not easy for China's foreign trade to achieve such results.

While the total volume is steadily increasing, the structure of foreign trade is also being optimized. For example, in terms of exports, electromechanical products with high technical content and added value accounted for nearly 60% of exports in the first 11 months. The overseas market for specialty agricultural products is vast. In the first 11 months, China's exports of dried and fresh fruits and nuts, vegetables and edible fungi, and wine and beverages increased by 22.2%, 11.4% and 7.5% respectively.

With the coordinated efforts of stock and incremental policies in the foreign trade field, foreign trade is expected to end smoothly throughout the year and achieve the goal of quality improvement and quantity stability.

The year-on-year growth rate of foreign trade in November declined, partly due to the high base of the same period last year, and also due to factors such as the increasingly complex and severe external environment. In order to consolidate the growth of foreign trade and stabilize the expectations and confidence of foreign trade enterprises, macroeconomic policies need to be further strengthened.

近期，一系列稳外贸政策陆续出台。11月，商务部印发《关于促进外贸稳定增长的若干政策措施》，在加大金融支持力度、培育外贸新动能等方面推出系列支持举措。海关总署也推出16条措施，进一步优化口岸营商环境、促进企业通关便利，助力外贸企业稳订单、拓市场。

The meeting of the Political Bureau of the CPC Central Committee held on the 9th clearly proposed to expand high-level opening up to the outside world, stabilize foreign trade and foreign investment. Analysts believe that more measures to stabilize foreign trade are expected to be introduced next year.

In Zhou Mi's view, China should accelerate the negotiation of free trade agreements to stabilize foreign trade in the future, help enterprises find more new trading partners, and achieve market diversification.

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