According to the latest statistical data from the General Administration of Customs, as of May, my country’s foreign trade economy has continued its steady and positive trend in the first quarter, the overall operation of foreign trade has strong momentum, and market vitality continues to burst out.
From January to April this year, the total import and export value of domestic trade in goods reached 16.23 trillion yuan, a year-on-year increase of 14.9%; of which exports were 9.33 trillion yuan, a year-on-year increase of 11.3%, and imports were 6.90 trillion yuan, a year-on-year increase of 20%.
Behind the eye-catching data is a major signal. my country’s total foreign trade import and export value has stood at the 10 trillion mark for 12 consecutive quarters. The foreign trade market has a solid foundation and there is no doubt that the long-term positive trend will be positive.
Looking at the performance of foreign trade in April alone, it exceeded market expectations. The total import and export value for that month was 4.38 trillion yuan, a year-on-year increase of 14.2%. Both exports and imports have increased steadily. Overseas market demand continues to pick up, and foreign trade companies are facing excellent development opportunities.
Major economic and trade benefits have been implemented, and Sino-US trade has ushered in a new turn.
In mid-May, the heads of state of China and the United States successfully met, and the two sides reached a historic consensus on economic and trade cooperation, which became the biggest policy bonus for the foreign trade industry this year!
The meeting finalized core tariff-friendly policies. The two sides canceled about 91% of the new tariffs in recent years. The US’s high additional tariffs on China were significantly reduced. China followed suit and lowered the tariff ratio. At the same time, the US suspended the original high reciprocal tariffs for 90 days, which is expected to be extended in the future.
Tariff barriers have been significantly relaxed, and resistance to trade has been sharply reduced, which has greatly reduced the cost of foreign trade companies going overseas and broadened the space for Sino-US trade cooperation. Foreign trade companies that have deeply cultivated the European and American markets will be the first to seize the dividends, and orders will usher in explosive growth.
The foreign trade pattern has ushered in three major structural changes, and diversified overseas exports have become the mainstream trend.
Compared with the short-term foreign trade growth rate, the current structural changes quietly taking place in the foreign trade industry are the core key to determining the future development direction of enterprises. A new new normal for foreign trade development has taken shape.
First, with the rise of emerging markets, minority languages are becoming more popular.
Nowadays, the foreign trade market no longer relies solely on a certain regional market. The European and American markets are steadily recovering, and emerging markets are rising rapidly, forming a good two-way parallel pattern.
Among them, my country’s exports to the United States have rebounded significantly, and export data in April have rebounded strongly, fully demonstrating the strong competitiveness of “Made in China” products; exports to the EU have been steady, and trade cooperation has a deep foundation; emerging markets such as ASEAN, Africa, and Latin America are even more popular, and export growth continues to rise.
The increasing proportion of trade in major emerging markets also confirms that diversified foreign trade layout is an inevitable trend. Dispersing business risks and broadening overseas sales have become the core ideas for the stable development of foreign trade companies.
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Second, trade cooperation is moving towards deep industrial integration.
my country’s export model to the global southern market continues to upgrade. It is no longer limited to the export of simple commodities. Relying on mature manufacturing technology and high-quality supply chain advantages, it drives intermediate products and supporting industries to go overseas in a coordinated manner, upgrading from simple commodity transactions to in-depth industrial collaborative cooperation, greatly enhancing China’s foreign trade’s core position in the global industrial chain.
Third, the ability to resist risks continues to be upgraded.
Relying on the diversified global market layout, my country’s foreign trade has completely got rid of its dependence on a single overseas market. In the face of international market fluctuations and trade policy changes, the overall ability to withstand stress and market adaptability have been greatly enhanced, protecting small and medium-sized foreign trade companies from long-term and stable overseas expansion.
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The foreign trade industry is recovering, policy dividends continue to be released, and overseas market demand continues to recover. Now is a golden opportunity for foreign trade companies to seize global customers and expand overseas markets.
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