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China's trade in goods remains stable in May: spokesman

China

China's trade in goods remains stable in May: spokesman
China

China

China's trade in goods remains stable in May: spokesman

2024-06-14 17:14 Last Updated At:17:37

Bolstered by several positive factors in May, China's trade in goods in May maintained a steady and progressive trend overall, said He Yadong, spokesman of the Ministry of Commerce, in Beijing on Thursday.

He added that the performance aligned with expectations.

He said that from an industry perspective, there are three categories of products with stable market demand.

First of all, consumer electronic products had stable market demand. After overcoming cyclical downturns, electronic products gradually resumed growth. According to research institutions, global shipments of smartphones and laptops increased by approximately 10 and 4 percent respectively in the first quarter, showing clear signs of recovery.

Driven by demand for end-user products, China's integrated circuit exports and imports in May increased by 34.8 and 22 percent respectively.

The second is household products. Efforts to reduce inventory in major overseas markets have yielded results, particularly in furniture, textiles, and apparel, where restocking activities have been robust. Furthermore, demand for products such as televisions has been boosted by events like the Olympics and other sports competitions. In May, exports of household appliances increased by 23.5 percent.

Meanwhile, China's automotive and shipbuilding industries, saw continuous enhancement in product competitiveness, leveraging complete supply chains and technological advantages. In May, exports of automobiles and ships increased by 20.3 and 67.7 percent respectively.

"In the second half of the year, China's foreign trade development faces a complex landscape. The main challenges include unstable growth in external demand, uncertainties regarding the extent and sustainability of inventory restocking in major markets, and increasing disruptions from geopolitical issues, trade barriers, and shipping costs. These factors contribute to a high level of uncertainty for enterprises in terms of order placement and fulfillment," said He.

He said that the Ministry of Commerce will further leverage the comprehensive effectiveness of foreign trade stabilization policies to effectively assist enterprises in overcoming difficulties, continuously cultivate new momentum for foreign trade, and fully promote the improvement of the quality and volume of foreign trade quality.

China's trade in goods remains stable in May: spokesman

China's trade in goods remains stable in May: spokesman

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Premier Li urges high-quality development to further deepen reform comprehensively

2024-07-22 22:24 Last Updated At:22:57

Chinese Premier Li Qiang has called for efforts to push forward high-standard opening-up and actively explore and innovate to motivate more momentum and vitality, so as to advance high-quality development in further deepening reform comprehensively.

Li, also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, made the remarks during a research trip to north China's Tianjin Municipality on Monday.

Li first visited the core area of the Tiankai Higher Education Innovation Park, where he learned about the park's construction and operation, and had talks with researchers and heads of sci-tech financial institutions as well as start-ups.

Saying that the key to fostering new growth drivers and developing new quality productivity lies in reform and innovation, Li underlined staying focused on integrated development of sci-tech innovation and industrial innovation, therefore building a more efficient and attractive sci-tech innovation platform.

He called for more support for small and medium-sized sci-tech firms and incentives for sci-tech personnel in terms of policies and funding, so as to promote the application of scientific and technological advances, and accelerate the development of new quality productivity.

The park, inaugurated in May, was established through the collaboration of Tianjin-based top-notched universities including Tianjin University and Nankai University.

Li then visited the branch of the world-leading elevator manufacturer Otis and CDHorizon, a world's top integrated equipment operation service provider, in the Binhai New Area.

Li urged efforts to make good use of policies for supporting the large renewal of equipment and to support enterprises in promoting the new application of artificial intelligence, so that more enterprises and products with core competitiveness can compete to emerge.

The premier also highlighted innovative use of financial leasing and other financial instruments, thus better serving the real economy.

Li called on the Binhai New Area to take the lead in better stimulating impetus and vitality in deepening reform, underlining the reform in institutions and mechanisms of the pilot free trade zone, financial innovation and development, and high-level opening up to the outside world.

Li also emphasized the need to accelerate the integrated development of ports, industries and cities by leveraging strengths and characteristics, in order to integrate resources and enhance their role in promoting the coordinated development of the Beijing-Tianjin-Hebei region.

Fully acknowledging Tianjin's achievements in socio-economic development, Li expressed his hope that the municipality will forge ahead and constantly scale new heights in promoting high-quality development.

Premier Li urges high-quality development to further deepen reform comprehensively

Premier Li urges high-quality development to further deepen reform comprehensively

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