Foreign trade is an important engine for economic growth and an important hub for linking the domestic and international double cycle. With the weak recovery of the world economy and sluggish external demand, how can China’s foreign trade consolidate its fundamentals and cultivate new kinetic energy? Through the new messages conveyed at the National People’s Congress in 2024, we can see how China’s foreign trade is “stable in quality and quantity”.

In 2023, the quality of foreign trade will be improved in a stable manner.
Introduced a stable scale of foreign trade and excellent structure, the development of overseas warehouses and other policies and measures, the annual import and export of goods 41.76 trillion yuan, an increase of 0.2%, of which 4.91 million new cars exported to the world’s first place, electric cars, lithium batteries, photovoltaic products, “the new three” export growth of nearly 30%.
In 2024, the foreign trade policy to make such an effort!
Overall, the development of foreign trade relies on the industrial base, factor endowment, innovation capacity is growing, our export commodities are climbing upstream to the value chain, and we are proactive in opening up the import market opportunities are also expanding, import and export have great potential, foreign trade has shown a strong resilience. We are confident and confident in consolidating the basic foreign trade and foreign investment.
Expanding high-level opening up to the outside world
The government work report submitted for deliberation on March 5 proposed to expand high-level opening up to the outside world and promote mutual benefit and win-win situation. Take the initiative to docking high standard international economic and trade rules, steadily expand the system of openness, enhance the linkage effect of the two domestic and international markets and two kinds of resources, consolidate the basic plate of foreign trade and foreign investment, and cultivate new advantages in international economic cooperation and competition.

All-out efforts to stabilize foreign trade
Increase support from three aspects:
Financial services:
The financial service guarantee for foreign trade enterprises, especially small, medium and micro enterprises, will be further strengthened and advanced.
Trade promotion:
It will continue to organize exhibitions such as the Canton Fair, the Import and Export Fair, the Trade in Services Fair, the Consumer Fair, and the Digital Trade Fair, and release trade promotion information and country-specific trade guides, while encouraging enterprises to participate in more exhibitions at home and abroad.
People-to-people exchanges:
Flight exchanges between China and foreign countries have been further resumed, and the Ministry of Commerce will continue to promote them in conjunction with relevant departments, promote the facilitation of visa application for business people, and support enterprises in trade promotion and supply and procurement docking.

Cultivating New Dynamics of Foreign Trade
In the medium and long term, the key is to cultivate new dynamics in foreign trade and promote the high-quality development of foreign trade, focusing on four aspects.
Expanding trade in intermediate goods
With willing global trading partners, we will deepen cooperation in the production and supply chain, and construct an industry chain supply chain that is inclusive, resilient and sustainable.
Promoting cross-border e-commerce exports
Policies on customs clearance, taxation and foreign exchange will be improved to accelerate the construction of supply chains and ecosystems adapted to the development of cross-border e-commerce.
Improve trade digitization
The Global Trade Digitization Pilot Zone in Guangdong, Hong Kong and Macao, the Shanghai Pilot Free Trade Zone, and the Foreign Trade Transformation and Upgrading Base will be used as carriers to raise the level of trade digitization. It will accelerate the digitization of international trade documents, build up a consensus on cooperation in multi-bilateral areas, and explore cooperation paths.
Promoting green development of trade
Trade in high-quality, high-technology, high-value-added green and low-carbon products will be supported. It will build a public service platform for green development of trade, help foreign trade enterprises accelerate green and low-carbon transformation, and enhance the green development level of the foreign trade industry chain supply chain.
Source: People’s Daily, Second Session of the 14th National People’s Congress
Economic press conference
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