Stabilize foreign trade with "Chinese creation" by expanding and stabilizing foreign investment


Published:

2023-04-12

The Political Bureau of the Central Committee of the Communist Party of China held a meeting recently, "to do a good job of stable employment, stable finance, stable foreign trade, stable foreign investment, stable investment, stable expectations work". The industry believes that the six "stable" word reflects the future macro policy focus is to seek stability.

The Political Bureau of the Central Committee of the Communist Party of China held a meeting recently, "to do a good job of stable employment, stable finance, stable foreign trade, stable foreign investment, stable investment, stable expectations work". The industry believes that the six "stable" word reflects the future macro policy focus is to seek stability.

In the first half of this year, China's foreign trade development momentum is good, import and export to achieve faster growth, the quality and efficiency of foreign trade development significantly improved, for the next step to continue to maintain a "stable" laid a solid foundation.

Statistics show that in the first six months of this year, China's trade in goods imports and exports worth 14.12 trillion yuan, an increase of 7.9% over the same period last year. Among them, exports of 7.51 trillion yuan, an increase of 4.9%; imports of 6.61 trillion yuan, an increase of 11.5%; trade surplus of 901.32 billion yuan, narrowing 26.7%.

Talking about how to stabilize foreign trade, Xu Yang, an independent economist who has been engaged in macro research for a long time, said in an interview with the "Securities Daily" reporter, stable foreign trade, foreign trade to achieve quality "into" in order to ensure long-term "stable".

In this regard, Xu Yang further explained: the cost of China's foreign trade enterprises and other traditional advantages have been weakened, to win orders in the fierce international competition, we must closely follow the new needs of the international market, research and development of core technologies, strong independent brand, improve product quality, to create a new "selling point" of foreign trade competition, so that " Made in China" to "Chinese creation", "Chinese brand", "Chinese service" upgrade.

The "six stable" in another stable, is "stable foreign investment". The industry believes that this indicates that China's reform and opening policy has not changed, the policy of attracting foreign investment has not changed. It also shows that China's economy has been fully integrated into the global, you have me, I have you.

In the view of Hao Hongmei, deputy director of the Foreign Investment Institute of the Ministry of Commerce, the connotation of stable foreign investment includes stabilizing the scale of foreign investment and improving the quality of foreign investment in two aspects. She revealed that the top-level design of stable foreign investment has been completed, and it is more important to promote the implementation of these measures in the second half of the year; meanwhile, relevant laws and regulations as well as the adjustment of government power behavior and other supporting measures need to follow in time.

For stabilizing foreign investment, Xu Yang gave the advice that China should remain the largest foreign investment absorber in developing countries by continuously expanding the opening up and improving the investment environment.

In the view of Yang Weifang, vice president of Founder Securities Research Institute and chief analyst of fixed income, since the goal of stabilizing foreign investment is in place, it is destined that the devaluation of the yuan will not be too fast.

"Once the yuan depreciates too fast, it may be possible to raise the risk reserve ratio or even add a counter-cyclical factor to stabilize the trend of the yuan exchange rate, as it did last Friday." Yang Weifang told the Securities Daily.

On Aug. 3, the People's Bank of China issued an announcement saying that in order to prevent macro-financial risks, promote sound operation of financial institutions and strengthen macro-prudential management, it decided to adjust the foreign exchange risk reserve ratio for forward exchange sales business from 0 to 20% starting Aug. 6, 2018.

Ma Yu, director of the Foreign Investment Institute of the Ministry of Commerce Research Institute, believes that it is necessary to provide foreign enterprises with equal opportunities to compete and eliminate some possible undue intervention.

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