Todd Bishop
The Chinese Ministry of Commerce released the “China’s Foreign Trade Situation Report (Spring of 2019)” report on Friday, showing that the current foreign trade development environment is more complex, more uncertain, and riskier. World economic growth has slowed and trade protectionism has continued to heat up. The downward pressure on the mainland economy still exists, and some structural problems are extremely urgent to be resolved. More efforts are needed to achieve the development goals of stabilizing and improving the quality of foreign trade. At the same time, we must also see that the long-term fundamentals of the Chinese economy have not changed, the endogenous power of foreign trade has been continuously enhanced, and the foundation for high-quality development has continued to consolidate. With the support of the steady scale of foreign trade, quality improvement, and rotational force, the policy effects will continue to emerge.
The report reviews the operation of China’s foreign trade in the first quarter of 2018 and 2019 and analyzes the development environment of China’s foreign trade in 2019. In 2018, China’s foreign trade was stable and stable, and the scale of import and export of goods trade reached a record high, and the quality and efficiency were further enhanced, contributing to the national economy. The status of the largest country in the trade of goods and the second largest country in the service trade has been consolidated, and the process of strengthening trade power has accelerated. In the first quarter of 2019, China’s foreign trade was generally stable and its structure continued to be optimized.
The report also pointed out that the Ministry of Commerce will continue to implement the foreign trade policy implementation, implement the trade strengthening country action plan in depth, continuously promote the “five optimizations” and “three constructions”, promote the diversification of export markets, and guide the transformation and upgrading of processing trade. Transferring the central and western regions, optimizing the import structure, actively expanding imports, and carefully organizing the second China International Import Expo to promote the steady improvement of foreign trade.
