Play the role of foreign trade to support economic development


Foreign trade is the core link in the allocation of global factor resources, is an important driver of China's economic growth. 2022, China's foreign economic and trade cooperation space continues to expand, the total import and export of goods exceeded the 40 trillion yuan mark for the first time, reaching 42.1 trillion yuan, an increase of 7.7% over the previous year, a new breakthrough in a high base; trade in services has grown steadily, the total import and export of services increased by 12.9% over the previous year . The central economic work conference stressed that "to continue to play the role of exports to support the economy", for this year to promote foreign trade to stabilize the size and structure of the specified direction.

From the world situation, the impact of the Ukraine crisis and the U.S. interest rate hike on the global economy is still ongoing, and some international agencies have recently lowered global economic growth expectations again. The external environment is volatile, uncertain and unpredictable factors increase, the impact on our economy deepened, these are the current foreign trade growth brought greater pressure. With the optimization and adjustment of China's epidemic prevention and control policies, the economic and social vitality continues to recover and strengthen, and the supply efficiency of the industrial chain will be significantly improved. In this regard, we should take the initiative to deal with short-term disturbances and uncertainties in the external environment, and further optimize the way of trade development. While strengthening general trade, promote cross-border e-commerce, overseas warehouses, bonded maintenance and other new business models to accelerate the development of new modes, the camera to introduce targeted measures to stabilize foreign trade, give full play to the comprehensive competitive advantage of China's foreign trade.

In the long run, the world's unprecedented changes accelerated evolution, the global governance system has undergone profound changes. The only way to accelerate the construction of a strong trade country, in order to make China's foreign trade in the participation of high-level international competition to occupy a favorable position.

First, the continuous consolidation of foreign trade development foundation. The domestic cycle is the foundation of China's foreign trade development, we must actively expand domestic demand, give full play to China's mega market and other important advantages, and constantly improve the ability to participate in high-level international circulation. At the same time, continue to deepen the integration of domestic and foreign trade, promote the same line with the same standard and quality, and promote the domestic cycle and the international cycle to promote each other. The traditional advantages should be consolidated, while constantly cultivating new trade growth points in the process of upgrading.

Second, accelerate the creation of internationally competitive industries. Strong industry is strong trade. To build a strong trade country and manufacturing power, quality power construction combined to promote, and continue to enhance the competitiveness of manufacturing and service industries, and constantly strengthen the industrial base of foreign trade development. In particular, we must respond to the changes in China's comparative advantage in international competition, and accelerate the optimization and upgrading of trade in goods and innovative development of trade in services.

Third, pay more attention to the development of digital trade. The new round of scientific and technological revolution and industrial change is advancing rapidly, global digital trade is booming, giving rise to data as a key factor of production, digital services as the core, digital ordering and delivery as the main features of digital trade. We should seize the opportunity of digital economy development, support digital product trade, optimize digital service trade, promote digital technology trade, and enhance the level of trade digitization.

Fourth, give full play to the important role of high-level open platform. Pilot free trade zones, state-level economic and technological development zones, comprehensive free trade zones, comprehensive deepening of service trade innovation and development pilot and other high-level open platform, is an important platform for the development of China's foreign trade, need to further enhance the quality of construction. Accelerate the construction of Hainan free trade port, the implementation of the pilot free trade zone to enhance the strategy, and actively promote the transformation and upgrading of state-level economic and technological development zones, comprehensive bonded zones, give full play to its role as an important hub in building a new development pattern, and contribute more and more to the development of China's foreign trade.

(Source: Economic Daily Author: Zhao Fujun, Researcher, Department of Foreign Economic Research, Development Research Center of the State Council)

Source: Economic Daily

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