Report on Chinese Foreign Trade Spring 2016

Chinese Ministry of Commerce issued the Report on Chinese Foreign Trade (Spring 2016) on May 10. The Report reviews the running condition of Chinese foreign trade 2015 and the first quarter of 2016. In 2015, against the background of the depressed international market and the radically declining world trade, China’s import and export of goods trade and China’s export value ranked first in the world unshakably. China’s international market share was further expanded, the trade structure was constantly optimized, and the quality and efficiency continued to improve. In the first quarter of 2016, China’s import and export saw some decrease, but showed signs of picking up since March. The trade conditions were optimized constantly.

The report believes the challenges and pressures faced by foreign trade development at present are mainly showed in the following aspects. Firstly, the external demands are still weak in general; secondly, the transition of competitive advantages of foreign trade has not been completed; thirdly, the influences of trade disputes are more prominent.

Taking international and domestic environments into consideration, the foreign trade situation in 2016 is still severe and complicated with high downward pressure. However, we should also see that the supports from the government to foreign trade development are strengthening. This will create more favorable environment for foreign trade development, boost the confidence of import and export enterprises and strengthen the business capacity of the enterprises.

The report points out that foreign trade is an important part and is the driving force of the national economy. Promoting the steady and picking up of foreign trade is of great significance to maintaining the smooth running and upgrading development of the economy. At present, the longtime optimistic trend of China’s foreign trade development is still unchanged, and its structural adjustment and transformation and upgrading have gained new progress. China’s government will actively implement the policies that support the foreign trade development, consolidate and promote traditional advantages, cultivate new competitive advantages of foreign trade and develop new driving force.

Source: http://english.mofcom.gov.cn/article/newsrelease/significantnews/201605/20160501317184.shtml

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