Ministry Of Commerce Report: China'S Foreign Trade Challenges And Pressures Increased Significantly In 2020.

The Ministry of Commerce of China issued a report on the 15 day that the challenges and pressures of China's foreign trade increased significantly in 2020.

The report on China's foreign trade situation (spring 2020) said that the trend of spreading and spreading of overseas epidemic has not been effectively controlled. The global epidemic situation and economic and trade situation are uncertain. In 2020, the downward pressure on China's foreign trade increased. Overall, China's foreign trade will continue to develop under pressure in the medium and short term.

The report points out that the impact of the epidemic on China's foreign trade has shifted from the supply side to the demand side. Almost all of China's trading partners have been affected by epidemics, and the demand for international markets has shrunk. Foreign trade enterprises are generally faced with problems such as cancellation or extension of orders, difficulties in signing new orders, etc. the supply chain of the industrial chain is blocked, and some imported raw materials, key equipment and spare parts are difficult to supply and prices continue to rise. International transport delays, increased logistics costs and blocked business negotiations have also led to difficulties in performance and order acquisition.

The report said that in the short term, the risks and challenges faced by China's foreign trade development are unprecedented. But in the long run, China's foreign trade is still tenacity, potential and competitiveness.

Recently, China has introduced a series of measures to stabilize foreign trade. Such as increasing foreign trade credit, meeting the needs of enterprises, encouraging online exhibitions, speeding up the development of cross-border electricity providers, and encouraging enterprises to build a number of high-quality overseas warehouses in relevant countries, especially in key markets, and improving the international marketing network system.

The report said that the next step would be to make every effort to stabilize the basic foreign trade market and promote stability and quality improvement in foreign trade. (end)