In recent months, China’s trade in goods has shown an upward momentum of stabilization, and the growth rate of imports and exports in RMB terms has risen for four consecutive months, with positive growth in October and November. From a comprehensive viewpoint, positive factors for the development of foreign trade have been accumulating, and the stabilizing trend continues to be consolidated:
First, trade activity continues to rise. China’s export trade volume since August from year-on-year decline to increase, and the growth rate continues to expand, November month export volume growth of 12%, reaching the peak since the second quarter. Meanwhile, import trade volume has maintained positive growth for 10 consecutive months. Steady growth in volume is an important support for the stable scale and excellent structure of foreign trade.
Secondly, the external demand shows signs of warming up. in November month, China’s exports to the United States to end 14 months of decline, turned to growth of 9.6%, to Japan, South Korea and other import and export decline narrowed. Cell phones, home appliances and other consumer electronics products rebound momentum is obvious, in November the amount of integrated circuit imports for the first time in the year growth rate turned positive, imports for three consecutive months of growth, showing the end of the demand for exports of electronic products has improved.
Third, business expectations continue to improve. The Ministry of Commerce tracking survey shows that foreign trade enterprises export orders for six consecutive months of improvement.
Next, the Ministry of Commerce will be in accordance with the deployment of the Central Economic Work Conference, in conjunction with relevant departments and local efforts to cultivate new momentum in foreign trade, consolidate foreign trade and foreign investment in the basic plate, expanding new space for foreign trade, for the majority of foreign trade enterprises to develop and innovate to provide a solid policy and service support.
Source: Press Office of the Ministry of Commerce
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