Three Major Reasons For China'S Foreign Trade Experts Going Strong In November

China's foreign trade figures for November were released on the 8 day, and the growth rate of imports and exports both exceeded expectations.

Analysts here believe that the depreciation of the renminbi is the main reason for the strong foreign trade in the month.

It is still difficult to recover.

According to the latest data from the General Administration of Customs of China, the total value of China's imports and exports in November was 2 trillion and 350 billion yuan (RMB, the same below), an increase of 8.9%.

Of which, exports were 1 trillion and 320 billion yuan, an increase of 5.9% over the same period, and imports of 1 trillion and 30 billion yuan, an increase of 13%.

This is two months after China's import and export once again achieved double growth, and the growth rate far exceeded expectations.

Bai Ming, deputy director of the International Market Research Institute of the Chinese Academy of Commerce, said in an interview with China News Agency reporters that the bright spot of foreign trade data in November was largely related to exchange rate changes.

With the US Federal Reserve raising interest rates expected to rise, the US dollar is growing stronger and stronger, and the central parity of the RMB against the US dollar has fallen through the three integer points of 6.7, 6.8 and 6.9 since October 2016.

To a certain extent, this is conducive to the export of Chinese products, and has significantly pushed up imports.

It can be seen clearly in the same period of US dollar valuation data.

According to official statistics, in dollar terms, China's exports increased by only 0.1% in November and 6.7% in imports.

The year-on-year increase is also related to a low base year.

Customs data show that in November 2015, China's exports amounted to nearly 1 trillion and 300 billion yuan, down 3.7% compared to the same period last year, and imports amounted to 910 billion yuan, down 5.6% from the same period last year.

In addition, since November 1st, the export tax rebate rate of the 400 kinds of products, such as electromechanical products and refined oil, has increased to 17%, reaching the level of full tax rebate. It also enables China's foreign trade enterprises to compete fairly with international counterparts.

"This policy has great effect on promoting exports."

Bai Ming said.

However, under the background of increasing global economic uncertainty and Global trade downturn, it is still difficult for China's foreign trade to turn negative in 2016.

In the view of Bai Ming, the "zigzag" trend of China's foreign trade has not yet broken through in the near future. The import and export data in November are only equivalent to the zigzag "upper edge".

Taking into account the previous 11 months, China's imports dropped 0.3% over the same period last year, exports dropped by 1.8%, and imports and exports dropped by 1.2%. The import of imports on a relatively good basis will be a big probability event for the whole year, and exports and imports and exports will still decline compared with last year.

At present, the Chinese government has explicitly requested that the existing policies be implemented and the 5 measures to stabilize the growth of foreign trade have been put forward. It includes the following measures: copying and promoting the trade facilitation measures in the free trade area as soon as possible, simplifying the inspection procedures; guiding financial institutions to increase credit and loan support for enterprises with orders and benefits, helping enterprises avoid exchange rate risks; further clearing up port, shipping and other business charges, speeding up the export tax rebate, expanding the pilot projects of cross-border electricity suppliers, market purchasing trade mode, and foreign trade comprehensive service enterprises, and giving full play to the role of two-way investment in promoting foreign trade.

All these will help to enhance the stamina of foreign trade development.

In addition, WTO

It will take effect as early as the end of 2016, and will also help stabilize foreign trade.

For more information, please pay attention to the world clothing shoes and hats and Internet cafes.