Cargos are unloaded from a container ship at the container terminal of the Lianyungang Port in Lianyungang City, east China's Jiangsu Province, Jan. 14, 2021. (Photo by Wang Jianmin/Xinhua)
BEIJING, March 9 (Xinhua) -- Robust performance of China's foreign trade in the first two months of the year has paved way for its smooth development in 2021. Driven by stimulus policies, the country's foreign trade is likely to maintain a steady growth in 2021 despite uncertainties in the global market.
--- China's foreign trade sees substantial increase in Jan.-Feb.
China's total goods imports and exports expanded 32.2 percent year on year to 5.44 trillion yuan (about 838.16 billion U.S. dollars) in the first two months of 2021, sustaining the growing momentum in previous months, according to the data released by the General Administration of Customs (GAC) on March 7.
In February alone, China's foreign trade totaled 2.42 trillion yuan, hiking 57 percent from a year ago, the GAC said.
The substantial increase was partly due to a low base last year, said GAC spokesperson Li Kuiwen. "Yet even compared with the same period in 2018 and 2019, China's foreign trade in the January-February period this year logged growth of about 20 percent."
--- Multiple factors contribute to strong foreign trade
Pang Chaoran, a researcher with an institute under the MOC, noted that the strong foreign trade data at the beginning of the year can be attributed to the booming overseas demand for Chinese products, the government's call to stay put and previous stimulus policies.
Pang explained that global economic recovery has boosted external demands; previous stimulus policies have gradually taken effect; the government's call to stay put during the Spring Festival has ensured continuous supply and helped enterprises fulfill their orders in advance.
From the perspective of partners, China saw double-digit growth in foreign trade volumes with major trading partners in the January-February period. The Association of Southeast Asian Nations remained China's largest trading partner during the period, with the combined trade volume rising 32.9 percent year on year to 786.2 billion yuan.
Other major trading partners such as the European Union, the United States and Japan saw trade volumes with China surge 39.8 percent to 779.04 billion yuan, 69.6 percent to 716.37 billion yuan and 27.4 percent to 349.23 billion yuan year on year respectively.
Pang highlighted that the trade data between China and the European Union are inspiring. "It is closely related to the deepening economic and trade cooperation between the two sides in recent years. Last December, two sides have completed investment agreement negotiations as scheduled, which has significantly eased restrictions on market access and further expanded the development scope for bilateral economic and trade activities."
--- A series of policies to boost foreign trade
According to Li, in order to maintain the growing momentum of foreign trade, China's customs will strengthen supervision and optimize services, stabilize foreign trade and improve its quality by strengthening COVID-19 epidemic prevention and control at ports, optimizing the business environment at ports, building a high-level opening platform to the outside world and further propelling reform and innovation in various ways.
Li also pointed out that efforts will be made to promote the integrated development of the areas under special customs supervision and pilot free trade zones, give a full display of the role of the comprehensive bonded zones and support the establishment of new comprehensive bonded zones in eligible regions.
Previously, Wang Wentao, China's commerce minister, noted at a press conference that China will try to smooth international logistics and ease logistic costs, further support new business models, establish working mechanism with trading partners to ensure trade connectivity, and create a sound international environment for foreign trade enterprises. (Contributed by Zhang Yuan with Xinhua Silk Road, zhangyuan11@xinhua.org)
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