The Comprehensive Department of the Ministry of Commerce and the International Trade and Economic Cooperation Institute jointly issued the

The Comprehensive Department of the Ministry of Commerce and the International Trade and Economic Cooperation Research Institute jointly issued the "Report on China's Foreign Trade Situation (Spring 2018)" (hereinafter referred to as the "Report"). The report reviews China's foreign trade operations in 2017 and the first quarter of 2018. In 2017, China's foreign trade development achieved remarkable results. The growth of import and export exceeded expectations, the trade structure was further optimized, the quality and efficiency continued to improve, and the power conversion continued to accelerate. In the first quarter of 2018, China's foreign trade maintained rapid growth and the structure continued to optimize.


In 2017, the export of seven categories of labor-intensive products such as textiles, clothing, footwear, luggage, toys, furniture and plastic products reached 3.08 trillion yuan, a year-on-year increase of 6.9%, accounting for 20.1% of total exports, down 0.7 from 2016. percentage point. In the first quarter of 2018, the export of the above seven categories of labor-intensive products was 666.8 billion yuan, and the growth rate was basically the same as that in the same period of 2017, accounting for 18.3% of total exports. Private enterprises have further improved their position in China's foreign trade. In 2017, private enterprises exported 7.14 trillion yuan, an increase of 12.2%, accounting for 46.6% of total exports, 0.6 percentage points higher than 2016. In the first quarter of 2018, China's private enterprises exported 1.64 trillion yuan, a year-on-year increase of 11.8%, accounting for 46.5% of total exports. The status of the largest export business entity was further consolidated.


In 2017, China's imports and exports to developed economies rebounded, with imports and exports to the EU and the US increasing by 15.5% and 15.2% respectively, which together accounted for 29.3% of China's total imports and exports. With the solid progress of the “Belt and Road” construction, China's import and export of countries along the “Belt and Road” increased by 17.8%, which was 3.6 percentage points higher than the overall growth rate of imports and exports. In the first quarter of 2018, China's imports and exports to the EU, the US and Japan increased by 8.2%, 6.3% and 3.4% respectively. Imports and exports to emerging markets such as ASEAN, Latin America and Africa increased by 13.7%, 14% and 12.4% respectively, which together boosted foreign trade. The increase was 3.1 percentage points. The import and export of China and the countries along the “Belt and Road” was 1.86 trillion yuan, a year-on-year increase of 12.9%, which was 3.5 percentage points higher than the overall growth rate of foreign trade during the same period.


The rapid growth of new trade formats such as cross-border e-commerce and market procurement trade has become a new bright spot in foreign trade development. Driven by the “three constructions” of foreign trade transformation and upgrading bases, trade promotion platforms and international marketing networks, a large number of foreign trade enterprises have exerted their strength from the supply side, accelerated transformation and upgrading, intensified technological innovation and management innovation, and continuously improved international competition. We have a self-owned brand, independent intellectual property rights, independent marketing channels, and high-tech, high value-added, high-efficiency products with rapid growth in exports, effectively meeting or even creating market demand. The report believes that in 2018, driven by factors such as the continued recovery of the world economy, the steady improvement of the domestic economy, and the enhancement of the endogenous power of foreign trade development, the overall situation of China's foreign trade is improving, but uncertain factors have increased.


From an international perspective, the dynamics of world economic growth have increased, but the economic and political situation has become more complicated. The "reverse globalization" and trade protectionism have risen, the macroeconomic policy adjustment spillover effects of major economies have become prominent, geopolitical risks have arisen one after another, and the world economy has recovered. The foundation is not stable. From the domestic perspective, China's economy is expected to maintain sustained and steady growth, but the problem of insufficient development imbalance is still outstanding, and it takes hard work to complete the annual target.