China’s foreign trade is demonstrating remarkable resilience despite a challenging global trade environment, according to Commerce Minister Wang Wentao.
Minister Wang highlighted a significant boom in trade activities during the recent Spring Festival holiday, traditionally a slow period for imports and exports. This surge underscores China's ability to maintain robust trade momentum even during typically slack seasons.
The trade recovery that commenced in September 2023 is expected to sustain its positive trajectory, although a slight dip in March may occur due to a high comparison base. Minister Wang emphasized China's commitment to collaborating with global trading partners to deepen cooperation in production and supply chains, aiming to build an industrial and supply chain network that is inclusive, resilient, and sustainable.
In a move to bolster cross-border e-commerce exports, China plans to enhance customs clearance, taxation, and foreign exchange policies. Additionally, the country seeks to accelerate the development of supply chains and ecosystems tailored to the evolving landscape of cross-border e-commerce.
China is also prioritizing the digitization of trade. By leveraging pilot zones such as the Greater Bay Area, the China (Shanghai) Pilot Free Trade Zone, and various foreign trade transformation and upgrade bases, the nation aims to elevate the level of trade digitization, making transactions more efficient and streamlined.
Moreover, Minister Wang announced initiatives to promote green trade development. China is committed to supporting the trade of green and low-carbon products that are not only of high quality and high technology but also offer significant added value. This aligns with global efforts to foster sustainable and environmentally friendly trade practices.
Reference(s):
China's foreign trade showing positive signs despite challenges
cgtn.com
