According to data released by the General Administration of Customs of China a few days ago, in the first two months of this year, the total value of China's import and export of goods reached 834.49 billion US dollars, a year-on-year increase of 41.2%. Many overseas people and organizations have positively evaluated China's foreign trade performance beyond expectations, believing that China's economic resilience and aggressive expansion of opening up will bring more confidence to trading partners and even the recovery of the world economy.
Strong exports show resilience
In the first two months of this year, China’s total export value of trade in goods was 468.87 billion US dollars, an increase of 60.6% year-on-year, and won praise from international public opinion for “exceeding expectations” and “full resilience”.
Diana Swank, chief economist at Grant Thornton in the United States, said that thanks to the strong recovery of the manufacturing industry, China's economy has performed better and has become a larger export platform in the world.
Nomura Holdings said in a report that even if the base effect is excluded, China's trade growth "is still quite solid."
Tong Shiping, a professor of economics at Dokkyo University in Japan, believes that under the background of the severe challenge of the new crown epidemic, China's exports to major trading partners have increased significantly, and the world's dependence on Chinese products is increasing. When the world economy is facing a crisis, China's role is prominent.
Agence France-Presse reported that China’s export growth rate has reached the highest level in many years, in sharp contrast with the sharp decline in exports during the same period last year.
"The Wall Street Journal" reported that the increase in China's foreign trade data was expected by the outside world, but the actual increase was much greater than economists generally expected. Resilience in the export sector has become the key to China's economic recovery.
imports show strong potential
In the first two months of this year, China's total import value of trade in goods was US$365.62 billion, a year-on-year increase of 22.2%, which also exceeded expectations. While the prospects for recovery are still constrained by the epidemic, China's imports have shown a strong momentum, which has made trading partners full of expectations for the potential of the Chinese market.
In 2020, exports from countries and regions such as Japan, the European Unio, and Latin America have droped significantly, but exports to China are still rising steadily, becoming a brighter economy.
Former Chilean Energy Minister Andres Revoledo said that China quickly got rid of the challenge of the epidemic, promoted economic recovery and demand growth, and boosted exports from countries with close trade relations with China, such as Chile. Economic and trade exchanges with China have to a large extent promoted Chile's economic and trade development and improved the country's balance of payments.
Rupa Naike, senior director of the World Trade Center in Mumbai, India, said that India’s total exports in 2020 will decline, but exports to China have grown against the trend.
Lee Won Suk, deputy director of the Institute of International Trade and Commerce of the Korea Trade Association, said that South Korea's imports and exports in 2020 will only decline slightly, thanks to China's economic recovery. Continuously deepening opening to the outside world is an important source of driving force for China's economic development, which is more significant in the post-epidemic era.
Shen Kailing, an associate professor at the Australian National University School of Business and Economics, said that China's domestic market is huge, and the demand for goods and services from countries and regions in the world is also increasing with economic development.
Ignacio Martinez, an expert on international issues at the National Autonomous University of Mexico, said that the world economy has ushered in a certain degree of recovery this year, which has a lot to do with China's economic performance. China's domestic market is developing strongly, and its economic growth will boost the recovery of other countries' economies.
Rajiv Biswas, chief economist for Asia-Pacific region of Eschen Huamei, believes that the substantial increase in imports reflects the stabilization of consumption in China's domestic market.
Prospects for cooperation and opening up
Michael Hewson, chief market analyst at CMC Markets in the United Kingdom, said that China's foreign trade data is "quite dazzling", reflecting that global demand and China's domestic demand are recovering.
According to Lucas Guarda, an expert on China in Argentina, China imports a large amount of agricultural products and at the same time delivers various products of higher and higher quality to the world. China's promotion of high-quality economic development is good news for major trading partners.
Ronny Lins, an economist and director of the Brazilian Center for China Studies, said that he believes that China will continue to open up and reach broader economic cooperation with the world. A more open China will benefit the world.
Kenyan expert on international issues Cavins Adhill said that China has become Africa's largest trading partner for 11 consecutive years. The economic vitality shown by China's foreign trade data "good start" brings hope to the recovery of the global economy. Whether bilateral or multilateral, China's trade exchanges with its partners are expanding and deepening year by year.
Kurkani, the former chairman of the Observer Research Foundation of Mumbai, India, believes that the trade potential between India and China is still huge. For India, export growth is conducive to faster economic recovery, and cooperation with China is a very important opportunity.
(Source: Xinhuanet)
