In 2020, the world economy will encounter a "black swan". When the COVID-19 epidemic is spreading around the world, and the lives and health of people in all countries are seriously threatened, global trade is also hit. The World Trade Organization predicts that taking the epidemic into account, global trade may shrink by 13% to 32% this year. How did China's foreign trade perform under the catastrophe? What can we do to stabilize foreign trade?
"Timely rain" policy helps foreign trade overcome difficulties
To stabilize foreign trade, we must stabilize the foreign trade logistics chain. China-Europe Express has become an important starting point for our country to stabilize the foreign trade logistics chain and even the global industrial chain supply chain. The customs, transportation, railways, postal and other departments have successively introduced measures, and the effects have already appeared. In the first quarter of this year, a total of 1941 China-Europe freight trains were launched, sending 174,000 TEUs of goods, an increase of 15% and 18% respectively year-on-year. In March, the number of China-Europe trains exceeded 800, among which the number of outbound trains exceeded 500. Both of these indicators set a single-month record.
Customs data shows that in the first quarter of this year, the total value of our country's import and export of goods trade was 6.57 trillion yuan, down 6.4% from the same period last year. Among them, exports were 3.33 trillion yuan, down 11.4%; imports were 3.24 trillion yuan, down 0.7%; the trade surplus was 98.33 billion yuan, narrowing by 80.6%. "Obviously, our country's foreign trade situation is still very severe." said Zhuang Rui, deputy dean of the Institute of International Economics at the University of International Business and Economics. However, the decline in the first quarter was expected and even better than the expectations of some institutions. The series of practical measures to stabilize foreign trade are closely related.
The reporter found that since March alone, the executive meeting of the State Council has studied measures to stabilize foreign trade at least four times, and introduced guidance to financial institutions to increase foreign trade credit, and provide timely and adequate tax rebates for all export products that are not fully refunded except for the "two highs and one capital". Measures such as tax rebates, the establishment of 46 new cross-border e-commerce comprehensive test zones on the basis of the 59 cross-border e-commerce comprehensive test zones, have strongly supported our country’s foreign trade to overcome difficulties.
"China's contribution" to stabilize the global industrial chain supply chain
The Central Committee Political Bureau meeting held on February 21 pointed out that it is necessary to strengthen communication and coordination with economic and trade partners, give priority to ensuring the restoration of production and supply of leading enterprises and key links with important influence in the global supply chain, and maintain the stability of the global supply chain. Maintaining the stability of the global industrial chain supply chain is not only of practical significance to our country's stable foreign trade, but also contributes to the recovery of the global economy. It also contains profound implications for building a community with a shared future for mankind.
Seeking opportunities in crisis to promote high-quality development of foreign trade
Under the epidemic, many foreign trade companies are under pressure while concentrating on seeking transformation and striving to move toward the higher end of the industrial supply chain. It should also be noted that the difficulties faced by foreign trade do not necessarily have to be resolved by foreign trade. The Politburo meeting of the Central Committee proposed to support enterprises' export to domestic sales.
