The comprehensive Department of the Ministry of Commerce and the Institute of international trade and economic cooperation jointly released the report on China's foreign trade situation (autumn 2018) on December 12. The report pointed out that in the first three quarters of this year, China's foreign trade maintained a steady and positive trend, with overall steady growth, continuous optimization of structure, accelerated transformation of power, and steady improvement of development quality and efficiency. At present, the impact of Sino US economic and trade frictions on China's foreign trade is generally limited.
According to the report, the current international market demand is relatively stable, domestic import demand is growing steadily, and China's foreign trade has the basic conditions to maintain stable growth. The rapid growth of import and export in the first three quarters provided strong support for the growth of foreign trade throughout the year. However, the high import and export base in the fourth quarter of 2017 will have a certain adverse impact on the growth rate of import and export in the fourth quarter of 2018.
The report points out that at present, the fundamentals of China's foreign trade development are good, and the policy environment is constantly improving, which contains new development potential. We should implement the new development concept, take the supply side structural reform as the main line, implement the high-quality development requirements, promote the implementation of foreign trade policies, reduce the burden on import and export enterprises, accelerate the construction of a strong trade country, and actively cultivate new modes of trade.
