China's foreign trade import and export growth rate reached a new high in October

Medical Network November 9th The latest foreign trade data released by the General Administration of Customs on the 8th showed that in October, China's total import and export value was 2.75 trillion yuan, an increase of 22.9%. Among them, exports were 1.49 trillion yuan, an increase of 20.1%; 1.26 trillion yuan, an increase of 26.3%. Experts said that the growth rate of imports and exports in October hit a new high in recent years, laying a foundation for the steady growth of foreign trade in the whole year. With the holding of the first China International Import Expo and a series of expansion of imports, promoting consumption, etc. With the implementation of measures, China's foreign trade imports are expected to continue to maintain double-digit growth, and exports are expected to accelerate transformation and upgrading.

'In October, the export growth rate was the highest in the past 8 months, and the import growth rate hit a three-month high.' Lian Ping, chief economist of the Bank of Communications Financial Research Center, said that despite the adverse external factors, the impact on China’s foreign trade has remained More limited.

'In the fourth quarter, imports are expected to continue to maintain double-digit growth.' Lian Ping believes that first, domestic demand will continue to grow under the policy push, import demand for raw materials will remain strong. Second, the possibility of falling import prices is lower in the short term. It is expected to continue to maintain higher prices. Third, the policy dividend for domestic expansion will be further released. These factors will jointly promote the steady and rapid growth of imports in the fourth quarter.

On the same day, at the first China International Import Expo, the China Foreign Consumer Goods Foreign Trade Report (2017) released by the China Chamber of Commerce for Import and Export of Light Industrial Products and Crafts also showed that with the recovery of the world economy, the international market demand continued to pick up, and daily consumer goods entered The export situation gradually stabilized. In 2017, the total import and export of daily consumer goods in China was 809.73 billion US dollars, up 15.5% year-on-year, accounting for 19.7% of the country's total import and export volume. The export value in 2017 was 607.68 billion US dollars, and the import value was 202.05 billion US dollars. In terms of growth rate, the growth rate of exports and import trade was 6.8% and 53% respectively, and imports far exceeded exports, and the trade surplus continued to shrink.

In this regard, Vice Chairman Li Wenfeng of the China Chamber of Commerce for Import and Export of Light Industrial Products and Crafts said in an interview with the Economic Information Daily that China has successively introduced a series of effective measures such as reducing taxes and fees, optimizing the business environment at the port and promoting cross-border trade facilitation. Strongly promoted import growth. In an open market environment, exports are expected to accelerate the pace of transformation and upgrading, and China's foreign trade structure will also be optimized.