Ministry of commerce: China's foreign trade is better than the world's major economies.
The world trade organization (WTO) trade outlook report released recently, the growth in global goods trade in 2016 by April forecast of 2.8% to 2.8%, the reason is that China, Brazil and other developing economies of economic and trade growth and decline in north American imports.
To this, the ministry of commerce spokesman, said that further shows that the global economic recovery is weak, the downturn in the international market demand uncertainty increases, is still in the depth adjustment since the international financial crisis.
The ministry of commerce noted that since the financial crisis, China has been a positive contributor to global economic growth and the recovery of international trade. As the world's second-largest economy, China accounted for more than 25 percent of global economic growth between 2009 and 2015, according to the IMF. In recent years, on the base of the development of higher, in severe complex international environment and domestic long-term accumulation of deep-seated contradictions, China relies on reform and innovation, keep rapid growth in the economy, speed up the transformation and upgrading. In the first half of 2016, China's economy grew by 6.7%, ranking among the world's leading economies.
"The growth of China's foreign trade has slowed down in recent years due to the weakness of external demand and the weakening of traditional competitive advantages, but it is still better than the world's major economies." According to the ministry of commerce, China's share of the world's exports rose to 13.8 percent in 2015, according to the ministry of commerce. In the first eight months of 2016, the cumulative decline in China's foreign trade imports and exports has narrowed for six consecutive months, showing a steady and positive trend.
In terms of trade volume, the WTO statistics showed that the volume of global export trade and import volume increased by 0.7% and 0.2% respectively in the first half of 2016. Over the same period, China's exports and imports grew by 0.6% and 3% respectively, better than the global average. As trading powers in the world, in recent years, China has actively import policy, constantly expanding the domestic market opening, not only meet the domestic growth and consumption demand, and to stabilize the international commodity markets and made important contribution to global trade.
In particular, about a third of China's foreign trade imports and exports are now realized through processing trade, which is "at both ends", depending on the changes in international market demand. China's imports of processed trade have fallen for 19 consecutive months, with an average drop of more than 10 per cent due to a long period of weak international demand, an important factor in the overall import growth of China.
To the long-term economic development of China "good fundamentals have not changed, and the developed countries, developing countries complementary advantages of industry has not changed, the foreign trade structure adjustment of power conversion to speed up the trend has not changed." The ministry of commerce said.
Global trade protectionism is on the rise.
China is the main "victim" of global protectionism, the ministry said. According to the WTO related, according to a report released in June this year in October 2015 to May 2016, the group of 20 (G20) economies imposed 145 new trade restrictions, nearly 21 new measures, the average monthly average monthly number of new measures for the WTO in 2009 to begin monitoring the highest level since the trade restrictions. In the first eight months of this year, China suffered 85 trade relief investigations from 20 countries (regions), involving a total of $10.3 billion, up 49% in the number of cases and 94% in the amount involved.