China’s foreign trade order outflow scale controllable influence is limited

Since the beginning of this year, with the gradual recovery of production in neighboring countries, part of the foreign trade orders that returned to China last year have flowed out again. Overall, the outflow of these orders is controllable and the impact is limited.”

The State Council Information Office held a regular state Council policy briefing on June 8. Li Xinggan, director-general of the Department of Foreign Trade of the Ministry of Commerce, made the remarks in response to a question that orders have been flowing out of some domestic industries and industries have been relocated due to changes in the domestic and external trade environment and the impact of the new round of COVID-19 in China.

Li Xinggan said that there are three basic judgments about the phenomenon of order outflow and industrial relocation in some domestic industries: First, the overall impact of the outflow of backflow orders is controllable; Second, the out-migration of some industries conforms to economic laws; Third, China’s position in the global industrial and supply chains is still consolidated.

China has been the world’s largest exporter of goods for 13 consecutive years. With the continuous upgrading of domestic industries, factor structure is changing. Some enterprises take the initiative to carry out global layout and transfer part of their manufacturing links abroad. This is a normal phenomenon of trade and investment division and cooperation.

At the same time, China has a complete industrial system, with obvious advantages in infrastructure, supporting industrial capacity and professional talent. Our business environment is constantly improving, and the attractiveness of our super-large market is increasing. In the first four months of this year, actual use of foreign investment increased by 26 percent year-on-year, including a 65 percent increase in the manufacturing sector.

 Li Xinggan stressed that firm to promote a high level, high quality of the implementation of the regional comprehensive economic partnership agreement (RCEP), continue to promote free trade promotion strategy, advance the join of the comprehensive and progress the trans-pacific partnership agreement (CPTPP) and the digital economic partnership agreement (DEPA), the elevation of the standard international trade rules, We will make China a hot destination for foreign investment.

 


Post time: Jun-29-2022