The Comprehensive Department and Chinese Academy of International Trade and Economic Cooperation of China’s MOFCOM jointly issued the Reports on China’s Foreign Trade (2016 Autumn) (hereinafter referred to as the Reports). The Reports reviewe the operation situation of China’s foreign trade in the first three quarters and predicts the development situation of China’s foreign trade in the whole 2016 and 2017.
The Reports see that in the first three quarter of 2016, China’s foreign trade shows recovery and turnaround, the new energy of foreign trade development is accumulating and the trade structure is further optimized. Considering all factors, hopefully, China’s import and export could realize recovery and turnaround in 2016. In 2017, the situation of China’s foreign trade development is still complex and grave with many unstable and uncertain factors. At the same time, China’s foreign trade is at a critical stage that the structure adjustment is accelerating and the new and old energy are continuously transforming. But the long-term turnaround situation is unchanged.
The Reports points out that in the face of the new trends and requirements of the development of foreign trade, all regions and relevant departments will continue to implement and carry out a series of decisions and deployment of promoting foreign trade to stabilize growth and adjust structure. They will further improve the level of trade facilitation, promote processing trade to innovate development and change the gradient. Furthermore, they will accelerate the development of new businesses of foreign trade, improve the comprehensive benefits of import, enhance the development level of service trade, encourage enterprises to actively integrate into the global value chain and supply chain, and promote the optimal import and export of China’s foreign trade.