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Will the rebound of European and American epidemic affect China’s foreign trade

On November 16, the new office of the State Council held a press conference on the operation of the national economy in October in Beijing. Fu Linghui, spokesman for the National Bureau of statistics, said that the national economy continued to recover steadily in October. Production has risen steadily, demand has stabilized and warmed up, employment has continued to improve, prices are generally stable, the market is expected to be better, and the national economy continues to maintain a stable recovery. China News Agency reporter Yang Kejia

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According to official data, China’s total imports and exports of goods totaled 2837 billion yuan in October, up 4.6% year-on-year. Among them, export was 1619.4 billion yuan, an increase of 7.6%; import was 1217.6 billion yuan, an increase of 0.9%.

 

Fu Linghui said at a press conference of the State Council Information Office that year, under the impact of the epidemic, Global trade in goods has declined, but China’s situation is better than that of the world. This fully reflects that China’s foreign trade potential is relatively large and its toughness is relatively sufficient.

 

He pointed out that the impact of the epidemic has a negative impact on global demand, but there are also some demands, especially the demand for epidemic prevention materials. Specifically speaking, first, the demand for epidemic prevention materials such as masks and medical equipment has increased significantly; second, the demand for home office and home life has increased, which is some new demand generated by the impact of the epidemic; third, the epidemic has some important impact on supply, which has adverse impact on the production and supply links of some countries.

 

Fu Linghui said that under the influence of the above three factors, Chinese enterprises actively adjusted and cooperated to support the global common epidemic prevention, and the export of masks, medical equipment and other materials increased significantly. In the first 10 months, China’s textile exports, including masks, exceeded 900 billion yuan, a year-on-year increase of more than 30%. The growth of medical devices also maintained a rapid development.

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At the same time, Chinese enterprises have obvious advantages in home appliances and information electronics. Driven by the “housing economy”, the export of household appliances, notebook computers and mobile office equipment has increased significantly. In the case of global supply interruption, China’s foreign orders are transferred to China, supporting export growth, which also plays a very strong driving role in China’s foreign trade development.

 

Fu Linghui believes that in the later stage, although some European and American countries are facing the impact of the second shock of the epidemic, the growth of foreign trade may face uncertainty. But on the whole, the results of epidemic prevention and control in China are relatively obvious, and enterprises return to work and production, and the recovery of production and operation remain in a good condition. Even if the international situation is uncertain, China’s import and export trade will still be better than the global situation as a whole

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Post time: Nov-16-2020