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China's foreign trade is still a global highlight

(People's Daily Online)    11:00, January 26, 2015

The Ministry of Commerce released China's foreign trade statistics for 2014 on Wednesday. Against a background of the global trade downturn, China has brought renewed confidence to the world.

Solid status of "the world's largest trading nation"

Statistics from China's Customs authorities show that in 2014, China's total imports and exports reached a value of 26.43 trillion yuan, with a year on year increase of 2.3 percent. Excluding the impact of arbitrage trade, the actual increase was 6.1 percent.

Shen Danyang, spokesman with the Ministry of Commerce, said that in the first 11 months of 2014 , US import and export growth rate was 3 percent, while the EU and Japan declined by 0.5 percent and 2.5 percent respectively. It is estimated that China's share of global exports in 2014 will increase by 0.5 percent point compared with 2013, to 12.2 percent.

China has become a net capital exporter for the first time

According to statistics released by the Ministry of Commerce and the State Administration of Foreign Exchange, China's outbound investment reached 116 billion U.S. dollars in 2014, with outbound direct investment surpassing inbound foreign direct investment.

If Chinese firms' investment through third parties were included, total ODI would reach about 140 billion U.S. dollars, which means that China is already a net outbound investor.

Mei Xinyu, a researcher at the International Trade and Economic Cooperation Institute affiliated with the Ministry of Commerce, pointed out that the fact China has become a net capital exporter for the first time means that the status of China's economy is increasing in the international economic system. However, China should continue to attach importance to improving the domestic investment environment and preventing capital flight.

Policies help foreign trade growth

China's "One Belt and One Road" and free trade zone strategies have attracted international attention in 2014. The policy has brought dividends to foreign trade.

Statistics from the Ministry of Commerce show that reform of the capital registration system in free trade zones has promoted the growth of foreign-funded enterprises. In 2014, the number of newly established foreign-funded enterprises reached 23,800, a year on year increase of 4.4 percent.

China's outsourcing contact value and execution value in countries along the “One Belt and One Road” in 2014 reached 12.5 billion and 9.84 billion, respective increases of 25.5 percent and 36.3 percent.

This article was edited and translated from 中国外贸仍是世界亮点, source: People's Daily Overseas Edition, author: Shen Mengzhe, Yan Mengxing. 

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Editor:Du Mingming,Zhang Qian)

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