Depth report

　　

27, the Ministry of Commerce held a regular press conference. At the press conference, Shu Jueting, spokesperson of the Ministry of Commerce, said efforts will be made to keep foreign trade operating within a reasonable range and achieve the goal of maintaining stability and improving quality throughout the year.

A reporter asked that the year-on-year growth rate of China's exports in US dollar terms slowed down further in September. How do you judge the situation of China's imports and exports in the fourth quarter?

In response, Shu said that in the first three quarters, China's import and export volume reached 31.1 trillion yuan, up 9.9 percent year on year. Net exports of goods and services contributed 32% to economic growth, boosting GDP growth by 1 percentage point and making positive contribution to stabilizing the overall macroeconomic market.

"Looking ahead to the fourth quarter, as the growth momentum of the world economy and global trade weakens, the environment for foreign trade development becomes increasingly complex, uncertainties are still increasing, and the risk of slowing growth of external demand is increasing." Shu Jue Ting pointed out that WTO data showed that the growth rate of global exports of goods dropped from 19.5 percent in the first quarter of this year to 16.6 percent in the second quarter. High inflation in some major economies, coupled with high inventories of goods, has further dampened import demand.

"Despite many difficulties and challenges, we still have many favorable conditions for steady growth of our foreign trade. Since the second half of the year, the CPC Central Committee and The State Council have stepped up efforts to stabilize the economy and foreign trade, and various supporting policies have been introduced and taken effect. Local governments also launched practical and effective supporting measures in a timely manner. On the whole, China's foreign trade enjoys a sound industrial foundation. Its foreign trade enterprises are increasingly capable of fulfilling their commitments and making innovations, and are engaging in closer trade with the global market. We will strive to keep foreign trade operating within a reasonable range, achieve the annual target of maintaining stability and improving quality, and continue to make positive contributions to the recovery of the national economy." Shu Jue ting said.

In the first three quarters of this year, the growth rate of China's import and export to ASEAN increased by 1.2 percentage points compared with the first eight months. How can trade between China and ASEAN continue to grow despite the grim international and external environment?" Shu Jueting responded that China will continue to strengthen trade and investment cooperation with ASEAN countries, maintain the security and stability of regional industrial and supply chains, and build more mutually beneficial bilateral and regional economic and trade relations.

Shu Jue Ting noted that 2022 is the beginning year of China-Asean comprehensive strategic partnership and the first year of the official entry into force of the Regional Comprehensive Economic Partnership (RCEP). China and ASEAN countries have worked together to carry out pragmatic economic and trade cooperation and high-quality RCEP implementation. Bilateral trade has maintained a sound momentum of growth, showing strong resilience and huge potential. From January to September, China's import and export to ASEAN reached 4.7 trillion yuan, up 15.5% year on year, taking up 15.2% of China's total foreign trade. China has remained ASEAN's largest trading partner for 13 consecutive years, further consolidating ASEAN's position as China's largest trading partner. China and ASEAN have had closer exchanges and deepened cooperation on industrial and supply chains, making important contribution to global economic development.

On the prospect of China-Eu trade, Shu Juting pointed out that China and Europe are important economic and trade partners to each other and share extensive common interests and huge space for cooperation. This year, despite the impact of COVID-19 and other adverse factors, China-Eu trade has maintained steady growth. In the first three quarters of this year, two-way trade reached more than 4.2 trillion RMB yuan. China remains the EU's largest trading partner, while the EU remains China's second largest.

"We are ready to share development opportunities with the EU, actively promote trade and investment liberalization and facilitation, jointly maintain stable and unimpeded industrial chains and supply chains, and promote the sound and steady development of China-Eu economic and trade cooperation," he said. Shu Jue Ting said.