China’s For­eign Trade Main­tains A Sta­ble and Up­ward Trend

China's Foreign Trade (English) - - Monthly Data -

For­eign trade sit­u­a­tion of China in Jan­uary-april

Ac­cord­ing to sta­tis­tics gath­ered by the Cus­toms House, in Jan­uaryApril 2018, China’s to­tal im­port and ex­port value reached RMB 9.11 tril­lion, with an in­crease of 8.9% yearon-year. Within this fig­ure, ex­ports reached RMB 4.81 tril­lion, with an in­crease of 6.4%, and im­ports reached RMB 4.3 tril­lion, with an in­crease of 11.7%. The sur­plus was RMB 506.24 bil­lion, which was nar­rowed by 24.1%. China’s for­eign trade con­tin­ued to main­tain a sta­ble and up­ward trend.

In terms of com­mod­ity struc­ture, ex­ports of me­chan­i­cal and elec­tronic prod­ucts reg­is­tered RMB 2.84 tril­lion, up 8.7%, with the pro­por­tion of same to to­tal ex­ports ris­ing by 1.3% to 59.1% com­pared with that of the same pe­riod last year. Among these, ex­ports of in­te­grated cir­cuits, au­to­mo­biles and mo­bile phones grew by 22.3%, 17.1% and 13.5% re­spec­tively. In terms of im­ports of com­modi­ties, im­ports of 10 kinds of com­modi­ties in­clud­ing nat­u­ral gas, crude oil, coal and cop­per con­cen­trate in­creased by 36.4%, 8.9%, 9.3% and 9.3% re­spec­tively. Im­ports of me­chan­i­cal and elec­tronic prod­ucts reached RMB 1.91 tril­lion, up 15%, and im­ports of au­to­mo­bile reached 370,000, up 2.1%.

In terms of busi­ness en­ti­ties, the ex­ports of pri­vate en­ter­prises reached RMB 2.26 tril­lion, up 9.6%, ac­count­ing for 46.9% of the to­tal, which is 1.3 per­cent­age points higher than pre­vi­ously. The pri­vate en­ter­prises con­tin­ued to be the largest busi­ness en­tity in terms of ex­ports. The ex­ports of state-owned en­ter­prises reached RMB 521.9 bil­lion, up 8%, ac­count­ing for 10.9% of the to­tal. The ex­ports of for­eign­in­vested en­ter­prises reached RMB 2.03 tril­lion, up 2.9%, ac­count­ing for 42.2% of the to­tal.

In terms of the trade mode, im­ports and ex­ports of gen­eral trade reached RMB 2.71 tril­lion, up 12.1%, ac­count­ing for 56.3% of the to­tal, which is 2.9 per­cent­age points higher than pre­vi­ously. Ex­ports of pro­cess­ing trade reached RMB 1.54 tril­lion, up 0.5%, ac­count­ing for 32% of the to­tal. The ex­ports of small-scale bor­der trade reached RMB 62.25 bil­lion, up 20.9%, ac­count­ing for 1.3% of the to­tal.

In terms of the in­ter­na­tional mar­ket, im­ports and ex­ports to the coun­tries along the Belt and Road routes amounted to RMB 2.51 tril­lion, up 11.6%, which is 2.7 per­cent­age points higher than the over­all speed. China’s ex­ports to tra­di­tional mar­kets such as the US, the EU and Hong Kong grew by 6.6%, 5.7% and 7.2% re­spec­tively.

In terms of do­mes­tic re­gions, the ex­port growth in the cen­tral and west­ern re­gions reached 17%, which is 10.6 per­cent­age points higher than the over­all speed, with the pro­por­tion in­creas­ing by 1.5 per­cent­age points to 16.4%. Ex­port growth in the eastern re­gion reached 4.6%, ac­count­ing for 83.6% of the to­tal.

Per­for­mance of con­sump­tion mar­ket

Ac­cord­ing to sta­tis­tics gath­ered by the Na­tional Bu­reau of Sta­tis­tics, the re­tail sales of na­tional so­cial con­sumer goods in Jan­uary-march amounted to RMB 9.0275 tril­lion, up 9.8% year-on-year. The re­tail sales in March grew to 10.1% year- onyear, which was 0.4 per­cent­age points faster than that in Jan­uary-fe­bru­ary. The re­tail sales of ma­jor re­tail­ing en­ter­prises mon­i­tored by MOF­COM grew to 4.5% year-on-year, which was 0.4 per­cent­age points higher than that over the same pe­riod of last year.

China’s con­sump­tion mar­ket in the first quar­ter saw a steady rise, with con­sump­tion in­creas­ingly pulling the eco­nomic growth and the con­tri­bu­tion rate of con­sump­tion to eco­nomic growth reach­ing as high as 77.8%. Its char­ac­ter­is­tics are listed be­low:

1. On­line sales main­tained rapid growth. The re­tail sales of com­modi­ties on­line reached RMB 1.5 tril­lion in the first quar­ter, up 34.4% year- onyear, ac­count­ing for 16.1% of to­tal re­tail sales, 3.7 per­cent­age points higher than that over the same pe­riod of last year. The growth of on­line re­tail sales of key re­tail­ing en­ter­prises mon­i­tored by MOF­COM was 18.8, 16.1 and 14.2 per­cent­age points higher than that of stores, su­per­mar­kets and shop­ping malls re­spec­tively.

2. There was a pick-up in off­line con­sump­tion. As bricks-and-mor­tar re­tail­ers were up­graded and trans­formed, tra­di­tional en­ti­ties con­stantly ad­justed their com­mod­ity struc­tures and busi­ness types, and con­ducted in­no­va­tion in sup­ply chains, chan­nels and ser­vice modes while off­line re­tail sales con­tin­u­ously in­creased. In the first quar­ter, the sales of stores, su­per­mar­kets, shop­ping malls and con­ve­nience stores mon­i­tored by MOF­COM grew to 1.7%, 4.4%, 6.3% and 7.2% re­spec­tively year- on-year, 0.8, 0.6, 0.5 and 0.4 per­cent­age points higher than that over the same pe­riod of last year.

3. Com­mod­ity con­sump­tion up­grad­ing never stopped. De­mands for in­tel­lec­tual en­ergy- sav­ing and en­vi­ron­men­tal pro­tec­tion in­creased, lead­ing to fast growth of the sales of high qual­ity up­graded goods. The sales of au­to­mo­biles above the des­ig­nated limit in the first quar­ter grew to 7.4% year- on- year, 5.1 per­cent­age points higher than that over the same pe­riod of last year, and the sales of new en­ergy au­to­mo­biles grew 154%. Sales of cos­met­ics, daily ne­ces­si­ties, home ap­pli­ances, and clothes above the des­ig­nated limit grew to 16.1%, 12.3%, 11.4% and 9.8% re­spec­tively, with an in­crease of 6.2, 3.8, 3.4 and 3.6 per­cent­age points over the same pe­riod of last year.

4. Ser­vice con­sump­tion qual­ity was pro­moted. With the rapid growth in the cater­ing, tourism and en­ter­tain­ment in­dus­tries, their ser­vice­sare marked with the char­ac­ter­is­tics of high qual­ity and be­ing finely di­vided. The tourism mar­ket is boom­ing, ice and snow sports, par­ent-child vis­its, fruit-pick­ing and flower tours have be­come hot spots, and have been ranked the top in the list of trav­eler’s fa­vorites. The cater­ing rev­enue in the first quar­ter grew to 10.3% yearon-year. Among these, those above the des­ig­nated unit grew to 8%, 0.7 per­cent­age points higher than that over the same pe­riod of last year. The na­tional box of­fice reached RMB 20.22 bil­lion, up 39.8% year-on-year. In par­tic­u­lar, RMB 5.72 bil­lion was reg­is­tered dur­ing the Spring Fes­ti­val and with RMB 10 bil­lion be­ing taken in Fe­bru­ary, mak­ing two new records in a row.

5. Con­sump­tion prices rose steadily. The CPI in the first quar­ter was up 2.1% year-on-year, with a yearon- year in­crease of 0.7 per­cent­age points. The prices of farm prod­ucts mon­i­tored by MOF­COM in­creased by 1.1% year-on-year, which was 5.0 per­cent­age points higher than that over the same pe­riod of last year. Prices in March de­creased by 5.4% mon­thon- month, end­ing the up­turn in mo­men­tum of same over 7 con­sec­u­tive months, among which veg­eta­bles, pork and eggs stood out with a drop of 12.3%, 12.2% and 7.6% re­spec­tively month-on-month.

With the steady growth of the na­tional econ­omy, the sup­ply­side struc­ture re­form was deeply ad­vanced, the in­come of ur­ban and ru­ral res­i­dents grew rapidly, poli­cies re­gard­ing con­sump­tion ex­pan­sion were grad­u­ally im­ple­mented, and the con­sump­tion struc­ture was up­graded. The con­sump­tion mar­ket is ex­pected to main­tain rapid growth.

On­line sales mar­ket in the first quar­ter

Ac­cord­ing to sta­tis­tics col­lected by the State Sta­tis­tics Bu­reau, in the first quar­ter of 2018, China’s on­line re­tail reached RMB 1931.8 bil­lion, up 35.4% year-on-year. On­line sales of na­tional en­ti­ties reached RMB 1.4567 tril­lion, up 34.4% year-on-year, 24.6 per­cent­age points higher than that of the to­tal re­tail sales of con­sumer goods, and ac­count­ing for 16.1% of the to­tal re­tail­ing of so­cial con­sump­tion goods, which greatly drove up the con­sump­tion growth.

China’s on­line sales mar­ket in the first quar­ter mainly showed the fol­low­ing fea­tures:

1. The trend of im­prove­ments in qual­ity and up­grad­ing was ob­vi­ous. The mon­i­tor­ing of busi­ness big data showed that the con­sump­tion of cul­ture, health and tourism in­creased sharply, and the in­creas­ing sales speed of books and videos, sta­tionery and Chi­nese and West­ern medicines was over 50%, show­ing that the con­sump­tion needs of the mar­ket have been chang­ing quickly and that cul­tural im­pli­ca­tions and ex­pe­ri­ence con­sump­tion have be­come im­por­tant fac­tors inf lu­enc­ing the con­sumers’ choices.

2. Ru­ral on­line sales en­joyed rapid growth. Ac­cord­ing to the mon­i­tored busi­ness big data, the na­tional ru­ral on­line sales in the first quar­ter of 2018 was RMB 287.82 bil­lion, up 34.7% yearon-year, ac­count­ing for 14.9% of na­tional on­line sales. Among these, the on­line sales of phys­i­cal goods reached RMB 225.23 bil­lion, up 32.2% year-on-year, and on­line sales of non-phys­i­cal goods was RMB 62.59 bil­lion, up 38.9% yearon-year. From the re­gional per­spec­tive, ru­ral on­line sales in the eastern, cen­tral, west­ern and north­east re­gions were RMB 207.94 bil­lion, RMB 41.35 bil­lion, RMB 31.15 bil­lion and RMB 7.39 bil­lion re­spec­tively, up 32.5%, 40%, 43.9% and 31.8% re­spec­tively year-on-year, ac­count­ing for 13.5%, 24.5%, 19.1% and 23% re­spec­tively in their own re­gions.

3. E-com­merce for se­cond-hand goods pro­moted green de­vel­op­ment. Se­cond-hand e-com­merce grew rapidly in the first quar­ter and the on­line and off­line ex­change for un­traded items was ac­tive, which helped the dock­ing be­tween the sup­ply and de­mand of un­used so­cial re­sources and strongly pro­moted green and cyclic de­vel­op­ment.

4. So­cial e- com­merce helped en­large the mar­ket. In the first quar­ter, through the spread of ac­quain­tances on so­cial plat­forms, group buy­ing and other modes, many con­sumers in the Mid­west and ru­ral ar­eas and mid­dle-aged and el­derly con­sumers were at­tracted to on­line pur­chases, al­low­ing more con­sumers to en­joy the con­ve­nience of on­line shop­ping.

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