On July 10, the General Administration of Customs announced the import and export data in the first half of the year at the press conference held by the National Office of New Zealand. In the first half of the year, the total value of China’s foreign import and export trade was US$1839.84 billion, an increase of 8% year-on-year Among them, imports of energy, resource products and consumer goods have grown rapidly, and the proportion of labor-intensive products such as plastics products has fallen.
According to Zhengyue Sheng, spokesman for the General Administration of Customs and Director of the Integrated Statistics Division, under the continuous influence of the international financial crisis, China’s foreign trade saw a moderate rebound in the second quarter under the policy of China’s economic slowdown and foreign trade restructuring. . In the first half of the year, the structure of import and export commodities has been optimized and the structure of import and export has become more rational.
According to Zheng Yuesheng's introduction, in the first half of the year, China’s export of mechanical and electrical products has grown rapidly, and the proportion of traditional labor-intensive products has decreased. There are seven categories of labor-intensive textiles, clothing, bags, shoes, toys, furniture, and plastic products. The value of product exports was 186.47 billion U.S. dollars, accounting for 19.5% of the total value of exports, a year-on-year decrease of 0.3 percentage point. Among imported products, imports of energy, resource products and consumer goods grew rapidly. During the first half of the year, China imported 140 million tons of crude oil, an increase of 11% year-on-year; and coal was 140 million tons, an increase of 65.9%.
In the first half of the main import and export trade, the import and export of private enterprises grew rapidly, and the proportion of foreign-invested enterprises fell back to less than half. The value of imports and exports of private enterprises in China during the first six months was 550.43 billion U.S. dollars, a year-on-year increase of 19%, which was 11% faster than the total import and export growth of China during the same period. The value of foreign-invested enterprises’ imports and exports was 909.96 billion U.S. dollars, a year-on-year increase of 4%, accounting for 49.5% of China’s total value of imports and exports during the same period, accounting for 1.9 percentage points less than the same period of last year; the value of state-owned enterprises’ imports and exports was 379.45 billion U.S. dollars, an increase from the same period of last year. 3.5%, accounting for 20.6% of the total value of imports and exports, a decrease of 0.9 percentage points year-on-year.
This year, China’s external import and export trade has achieved a full-year growth target of 10%. There is still a certain gap between the 8% growth rate and the target in the first half of the year. In response, Zheng Yuesheng stated that the core competitive advantages of China's manufacturing industry will not undergo major changes in the short term, and the effects of a series of policy measures that will promote the steady growth of China's economy and promote the expansion of foreign trade will gradually be released if the world economy is especially European debt. The crisis no longer continues to deteriorate. This year, China’s foreign trade is expected to achieve a target of 10% growth.
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