The Ministry Of Commerce Takes Multiple Measures To Stabilize Foreign Trade And Foreign Investment To Promote Consumption

This year, the development situation of foreign trade and foreign investment is severe and complicated, and challenges and opportunities coexist.

    The spokesperson of the Ministry of Commerce, Gao Feng, stated at a regular press conference on March 25 that in response to the common problems and outstanding difficulties faced by foreign trade companies, the Ministry of Commerce will strengthen its services to foreign trade companies, optimize and improve the trade policy toolbox, and focus on being active. Promote the flow of international goods, focus on improving the ability of foreign trade companies to deal with exchange rate risks, and further stabilize the main body, stabilize expectations, and stabilize the scale.

    Gao Feng said that at present, the new crown pneumonia epidemic is still the biggest uncertainty factor facing my country's foreign trade development. The long-term structural contradictions in the world economy still exist, and the foundation for recovery is not yet solid. From a series of surveys conducted by the Ministry of Commerce recently, it can be seen that foreign trade companies still generally face some difficulties and challenges, such as poor cross-border logistics, rapid increase in raw material prices, exchange rate fluctuations, and difficulty in employment in some regions.

    Gao Feng said that the Ministry of Commerce will continue to work with various localities and relevant departments to implement the policies and measures that have been issued to maintain the continuity and stability of the policies.

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    Not long ago, the Ministry of Commerce issued the "Notice on Doing a Good Job in Stabilizing Foreign Investment Focusing on the Establishment of a New Development Pattern" (hereinafter referred to as the "Notice"), and put forward 22 specific measures from 5 aspects to arrange the work of stabilizing foreign investment this year and expand high-level opening , Attracting more high-quality external factor resources to promote domestic circulation.

    This includes the implementation of the overall plan for the construction of the Hainan Free Trade Port, and the promotion of the level of trade and investment liberalization and facilitation of the Hainan Free Trade Port, which is also one of the focuses of future work. It is understood that after the release of the overall plan for the construction of Hainan Free Trade Port, 310,000 new market players were established throughout the year, an increase of 30.9%; 1,005 foreign-funded enterprises were newly established, an increase of 197.3% year-on-year; 122,000 talents were introduced, an increase of 177% year-on-year .

    Minister of Commerce Wang Wentao stated at the previous press conference that the foreign trade situation in 2021 will be severe and complex. This year's goal is to resolutely stabilize the basic market for foreign capital in foreign trade, focusing on the implementation of the preferential import and export plan, the trade industry integration plan and the trade smooth plan.

 

    We must continue to strengthen policy support. The Ministry of Commerce will maintain policy continuity, stability and sustainability with local and relevant departments. The Ministry of Commerce now regularly listens to the problems and voices of foreign trade companies, such as solving the problems of poor international logistics and high logistics costs, such as consolidating and upgrading export credit insurance, etc., maintaining the continuity and stability of policies, and facing new situations in a timely manner Adjust policies; ensure the stability and smooth flow of the foreign trade industry chain and supply chain. Work hard on the integration and development of trade industries, newly identify a batch of foreign trade transformation and upgrading bases, and cultivate a batch of processing trade industrial parks.

    The Ministry of Commerce will also build a number of national import trade promotion innovation demonstration zones, expand the scale of imports, and drive related industries to improve quality and efficiency; help foreign trade companies stabilize orders and expand markets. The 4th China International Import Expo and the 2021 Service Trade Fair will be held well, and important exhibition platforms such as the Canton Fair and the first Consumer Expo will also be used to contribute to stable orders and market expansion for enterprises. At the same time, according to the changes in the epidemic situation, online and offline efforts will be synchronized. It will also strengthen the construction of the international marketing system, especially the upgrading and development of overseas warehouses, and promote the integration of domestic and foreign trade. We will also work with more trading partners, especially countries related to the “Belt and Road” to establish a smooth working mechanism for trade to create a good international environment for foreign trade enterprises; we must actively cultivate new forms and models of foreign trade.

    After the epidemic, new formats and models of foreign trade have played an important role, such as cross-border e-commerce and market procurement trade methods. In 2020, cross-border e-commerce imports and exports will be 1.69 trillion yuan, an increase of 31.1%. Market procurement exports 704.54 billion yuan in 2020, an increase of 25.2%. In the next step, the Ministry of Commerce will further expand its support for new business forms and models, and contribute to stabilizing foreign trade this year.

 

    Regarding the stabilization of foreign capital this year, Wang Wentao said that my country’s actual use of foreign capital in non-financial sectors increased by 4.5% last year, making it the world’s largest foreign capital inflow country. The situation in January this year was also relatively good. "But our judgment for this year is the same as the previous stabilization of foreign trade. The situation of stabilizing foreign investment is severe and complicated because of its uncertainty." Wang Wentao said that this year's global FDI will fall by 5% after falling 42% last year. -10%, the situation is severe, but opportunities also exist. The Ministry of Commerce will, in accordance with the decisions and deployments of the Party Central Committee and the State Council, focus on promoting the use of foreign capital to stabilize the total amount, optimize the structure, and improve the quality of foreign investment.

    Yu Fenghui, an economist and new financial expert, told a reporter from China Industrial Economics that the follow-up policy can be implemented in a timely manner, which will promote the attraction of foreign investment and opening up to a new level.

    Yu Fenghui pointed out that for high-tech construction, if the top-level design of the current plan is followed, it will be able to achieve the goal of domestic reform through opening up. my country's trade in goods has been completely free and open, but the policy must focus on the key points, and targeted reforms around the capital account and foreign exchange rate market reforms and international integration. Including the free convertibility of the renminbi, a new round of opening up to external windows such as the free trade port in the high-tech zone, especially the implementation of the free trade zone construction project.

    In Yu Fenghui's view, it is necessary to grasp the implementation of key parts and the implementation of key links in financial foreign reforms. Now that these policies are involved, the high-tech zone will surely drive China's opening up to a new level, and through opening up, domestic reforms will be taken to a new level. A new level, thereby promoting the quality and efficiency of my country's economic growth.