Ministry of Commerce: Sino-US trade friction has a limited impact on my foreign trade

People’s Daily Online, Beijing, November 13 According to the website of the Ministry of Commerce, on November 12, the Comprehensive Department of the Ministry of Commerce and the International Trade and Economic Cooperation Research Institute jointly issued the “China Foreign Trade Situation Report (Fall 2018)”. The report reviews China’s foreign trade operations in the first three quarters of 2018, and looks forward to the development trend of China’s foreign trade in 2018 and 2019. In the first three quarters of 2018, China’s foreign trade maintained a stable and good trend. The growth rate was generally stable, the structure continued to be optimized, the power was accelerated, and the quality and efficiency of development were steadily improved. The current Sino-US trade friction has a limited impact on China’s foreign trade.

The report believes that the current international market demand is relatively stable, domestic import demand is growing steadily, and China’s foreign trade has the basic conditions for maintaining steady growth. The rapid growth of imports and exports in the first three quarters provided strong support for the growth of foreign trade throughout the year. However, the high import and export base in the fourth quarter of 2017 will have a certain adverse impact on the growth rate of imports and exports in the fourth quarter of 2018.

The report pointed out that the environment facing China’s foreign trade development in 2019 is more severe and complex, and the downside risks of the world economy are increasing. Protectionism threatens the steady growth of global trade. At present, the fundamentals of China’s foreign trade development are good, the policy environment is constantly improving, and it contains new development potential. It is necessary to implement the new development concept, implement supply-side structural reform as the main line, implement high-quality development requirements, promote the implementation of foreign trade policies, reduce the burden on import and export enterprises, accelerate the process of building a strong trade country, and promote “five optimizations” and “three constructions”. Actively cultivate new modes of trade new business, and strive to maintain stable development and quality improvement of foreign trade.

Post time: Nov-16-2018
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