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Good Start to Build a Solid Foundation, China’s Foreign Trade Accelerates Transformation and Upgrading

During the year, it has crossed the two steps of 5 trillion and 6 trillion US dollars, and the scale has reached a historical high; imports and exports to Europe, the United States, Japan and other economies have increased by 17.5%; there are 567,000 enterprises with import and export performance, an increase of 36,000, endogenous momentum Further growth… In 2021, my country’s foreign trade has handed over a dazzling report card, showing strong resilience.

Experts and companies interviewed said that in the first year of the “14th Five-Year Plan”, China’s foreign trade has achieved strong growth amid multiple tests, and the stability of the industrial chain and supply chain has been further enhanced, laying a solid foundation for facing challenges and uncertainties in the future. Superimposing a series of targeted measures to arrange early efforts will effectively stabilize the expectations and confidence of foreign trade enterprises, and gain greater initiative for the improvement and upgrading of foreign trade throughout the year.

According to customs statistics, the total value of my country’s import and export of goods trade in 2021 will be 39.1 trillion yuan, an increase of 21.4% over 2020. Among them, exports were 21.73 trillion yuan, an increase of 21.2%; imports were 17.37 trillion yuan, an increase of 21.5%. Compared with 2019, my country’s foreign trade import and export, export and import increased by 23.9%, 26.1% and 21.2% respectively. In U.S. dollars, it crossed the two major steps of 5 trillion and 6 trillion U.S. dollars during the year, reaching an all-time high.

Not only has the scale hit a new high, but there has also been new progress in quality improvement. From the perspective of business formats, in 2021, my country’s cross-border e-commerce exports will increase by 24.5% year-on-year, and market procurement exports will increase by 32.1%. The rapid development of new business formats and new models has become a vital force in my country’s foreign trade development; in terms of import and export structure, my country’s general trade imports in 2021. The proportion of exports increased by 1.6 percentage points, and nearly 60% of the export products were mechanical and electrical products; in terms of regional distribution, the import and export of my country’s central and western regions was 6.93 trillion yuan, an increase of 22.8%, which was 1.4 points higher than the overall growth rate of my country’s foreign trade in the same period. Among trading partners, the import and export to Europe, the United States, Japan and other economies increased by 17.5%, and the import and export to Latin America and Africa increased by 31.6% and 26.3% respectively.

“China will join hands with its trading partners to jointly maintain the stability of the global industrial chain and supply chain, and jointly help the recovery of the world economy.” Li Kuiwen said.

In this process, China’s foreign trade has also made new breakthroughs in its international market share. According to the latest data, in the first three quarters of 2021, my country’s export market share in the international market was 14.9%, an increase of 0.6 percentage points year-on-year and 3.8 percentage points higher than that in 2012. The international market share of exports is comparable.

At the same time, my country’s import international market share has steadily increased since it first exceeded 10% in 2013 to 12.1% in the first three quarters of 2021, a year-on-year increase of 0.5 percentage points. “This reflects the great achievements we have made in the new era of reform and opening up.” Li Kuiwen said.


Post time: Jan-19-2022