日韩精品久久一区二区三区_亚洲色图p_亚洲综合在线最大成人_国产中出在线观看_日韩免费_亚洲综合在线一区

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Policies

More policy support urged for foreign trade growth

By Wang Keju | chinadaily.com.cn | Updated: 2023-06-07 23:04
Share
Share - WeChat
This aerial photo taken on Feb 25, 2023 shows the container terminal at Qinzhou Port in South China's Guangxi Zhuang autonomous region. [Photo/Xinhua]

China's foreign trade grew at a much slower pace than expected in May amid multiple headwinds, such as intensifying geopolitical tensions and a sagging world economy, which subdued global demand, prompting experts to call for greater policy support to stabilize the country's export growth.

As the global economic outlook is forecast to remain gloomy and external demand is expected to weaken, China's foreign trade will face some pressure. Stronger government support should be provided on an ongoing basis to help address concerns of businesses and sustain stable growth, experts said on Wednesday.

In May, China's foreign trade expanded 0.5 percent to 3.45 trillion yuan ($485 billion). Exports witnessed a 0.8 year-on-year decrease to 1.95 trillion yuan while import climbed 2.3 percent to 1.5 trillion yuan, according to data from the General Administration of Customs.

Zhou Maohua, an analyst at China Everbright Bank, said the country's exports logged a modest drop in May, partly due to a relatively high base figure recorded in the same period last year. Also, as domestic exporters fulfilled a backlog of orders in the past few months that had been disrupted by the pandemic, inadequate market demand caused the decline.

Weighed down by the effects of the Russia-Ukraine conflict, a stubbornly high inflation and tighter monetary policy, the world economy and global trade have been in the doldrums. Shrinking external demand will be a major drag on China's foreign trade for some time, Zhou said.

The foundation for recovery of the country's foreign trade is not yet fully established. Further supportive policies should be provided to help tackle various challenges and ensure stable growth, he added.

Xu Hongcai, deputy director of the China Association of Policy Science's economic policy committee, said that diversification of international markets must be better leveraged to cushion dampening demand from countries such as the United States and Japan.

Between January and May, China's total imports and exports grew 4.7 percent year-on-year to 16.77 trillion yuan, with the Association of Southeast Asian Nations remaining the country's largest trading partner, according to the administration.

China's trade with ASEAN member states amounted to 2.59 trillion yuan, up 9.9 percent year-on-year, while the nation's trade with countries and regions involved in the Belt and Road Initiative expanded 13.2 percent year-on-year to 5.78 trillion yuan, data from the administration showed.

Countries and regions involved in the BRI and ASEAN member states are becoming new growth engines of China's foreign trade. Further steps should be employed to tap into their trade potential, Xu said, adding that the Regional Comprehensive Economic Partnership, which has been fully enforced for all its 15 members, should be better harnessed to expand the market in Southeast Asia with preferential tax rates.

Zhou from China's Everbright Bank said the exports from high-end manufacturing industries, as highlighted by automobile exports, should play a bigger role in facilitating the stable growth of China's foreign trade.

Between January and May, China's mechanical and electrical product exports grew 9.5 percent year-on-year to 5.57 trillion yuan. In particular, automobile exports amounted to 266.78 billion yuan, up 124.1 percent year-on-year, data from the administration showed.

Domestic manufacturers should stay abreast of shifting demand in the global market and invest more in innovation and production capacity, in order to provide global buyers with higher value-added products and secure more orders, Zhou said.

Zhang Jianping, head of the Center for Regional Economic Cooperation at the Chinese Academy of International Trade and Economic Cooperation, said that policies to enable greater foreign trade facilitation should be improved to lower the overall costs of businesses and enhance their competitiveness.

Better inclusive financing services should be provided and deeper tax and fee cuts introduced to lighten the burden on foreign trade enterprises. The coverage of export credit insurance should also be expanded. Industry associations and chambers of commerce should play a key role in helping firms secure more orders, he added.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 午夜婷婷精品午夜无码A片影院 | 成人午夜激情 | 天天干com | 中文字幕av一区二区 | 日韩精品久久久久 | 中文字幕日韩欧美 | 日韩欧美第一页 | 国产一区二 | 可以直接看的毛片 | av影音资源 | 久久精品欧美一区二区三区不卡 | 国产tv在线| 亚洲男人天堂2021 | 国产污网站在线观看 | 亚洲一区二区三区在线影院 | 亚洲 欧美日韩 国产 中文 | 亚洲视频一区在线观看 | 久久久久久久国产精品 | 国产欧美日韩视频 | 一区二区三区四区在线播放 | 日产精品乱码卡一卡2卡三 久久99精品久久久久久综合 | 这里只有精品视频 | 97色在线 | 最新国产精品 | 香蕉国产在线观看免费 | 日本在线观看高清不卡免v 国产成人一区二区精品非洲 | 一区二区三区日本在线观看 | 欧美精品一区二区三区在线播放 | 男女视频在线 | 唐人社电亚洲一区二区三区 | 国产成年人网站 | 一区二区日韩精品 | 一区二区在线免费观看 | 天天插天天射天天操 | 奇米网久久 | 国产精品久久99 | 欧美国产激情二区三区 | 91xoxo| 亚洲精品三级 | 亚洲好视频 | 国产亚洲成在线播放va |