In the past year, China’s economy has pushed forward and developed towards new heights. The total economic output has reached a new level of 140 trillion yuan, showing strong resilience and vitality. Especially in the context of the deep adjustment of the global trade pattern, China’s foreign trade still delivers a “report card” with a steady increase in scale and excellent development quality, and the import and export volume of goods exceeds 45 trillion yuan.
Despite the outstanding achievements, the environment facing China’s foreign trade development is becoming increasingly complex, and the uncertain and unpredictable factors are obviously increasing. On the one hand, the tariff policy is changeable repeatedly, and the trade friction presents a long-term trend; On the other hand, geopolitical conflicts continue to spill over, international energy and raw material prices fluctuate at a high level, international logistics channels are blocked, costs are high, the risks of cross-border financial settlement and exchange rate fluctuations are rising, and the risks of the international situation are increasing. At the same time, the rise of international compliance threshold also affects the overseas market expansion of Chinese enterprises to a certain extent. In this context, the financial empowerment for the high-quality development of foreign trade needs to be further increased. Specifically, efforts can be made from four aspects, including embedding the “new” system of overseas comprehensive services, meeting the “new” financial needs of overseas enterprises, helping to build a “new” pattern of cross-border RMB, and focusing on optimizing the “new” format of services to the sea.
As for how to optimize the “new” format of service going to sea, we should conform to the trend of digital and green transformation of foreign trade, optimize financial support for the integrated development of service trade and domestic and foreign trade, actively meet the needs of new formats such as cross-border e-commerce, procurement trade and overseas warehouses, create suitable financial products, simplify the settlement process, improve financing efficiency, and support enterprises with new formats to reduce operating costs and expand market space.
Source: Securities Times
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