Sino US Economic And Trade Frictions Have Limited Impact On China's Foreign Trade

- Nov 13, 2018 -

BEIJING, Nov. 12, Economic Daily (Reporter Feng Qiyu) "Report on China's Foreign Trade Situation (Autumn 2018)" was jointly issued by the Department of Commerce and the Institute of International Trade and Economic Cooperation of the Ministry of Commerce on Nov. 12. The report points out that in the first three quarters of this year, China's foreign trade maintained a steady and positive trend, with overall stable growth rate, continuous optimization of structure, accelerated transformation of power and steady improvement of development quality and efficiency. 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 a steady growth. The rapid growth of imports and exports in the first three quarters provided strong support for the growth of foreign trade throughout the whole year. However, the high import and export base in the fourth quarter of 2017 will have a negative impact on the growth of import and export in the fourth quarter of 2018.
The report points out that at present, China's foreign trade development is in good fundamentals and the policy environment is constantly improving, which implies new development potential. We should implement new development concepts, take supply-side structural reform as the main line, implement high-quality development requirements, promote the implementation of foreign trade policies, lighten the burden on import and export enterprises, accelerate the construction of powerful trade countries and actively cultivate new trade patterns.

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