CCTV News:Statistics from the State Administration of Foreign Exchange show that at the end of October, the scale of China’s foreign exchange reserves was $3,101.2 billion.
The relevant person in charge of the State Administration of Foreign Exchange said that in October, exchange rate conversion and asset price changes combined to reduce the scale of foreign exchange reserves in that month. China’s economy has maintained a good recovery trend, and the fundamentals of economic development have not changed, which is conducive to the continued stability of the scale of foreign exchange reserves.
The total import and export value of China’s goods trade is 34.32 trillion yuan.
According to the data released by the General Administration of Customs yesterday (November 7), in October, the total import and export value of China’s goods trade was 3.54 trillion yuan, a year-on-year increase of 0.9%.
Overall, in the first 10 months of this year, the total import and export value of China’s goods trade was 34.32 trillion yuan, a slight increase of 0.03% year-on-year. In October, the monthly and cumulative growth rate of China’s foreign trade both turned positive.
According to customs statistics, in the first 10 months of this year, China’s total import and export value of goods trade was 34.32 trillion yuan, a slight increase of 0.03% year-on-year. Among them, exports were 19.55 trillion yuan, up 0.4%, and imports were 14.77 trillion yuan, down 0.5%. In the month of October, China’s import and export was 3.54 trillion yuan, up 0.9% year-on-year, and the monthly import and export trend was more consolidated.
According to customs statistics, in the first 10 months of this year, China’s import and export to countries that jointly built the "Belt and Road" reached 15.96 trillion yuan, up 3.2% year-on-year, accounting for 46.5% of China’s foreign trade. Among them, the import and export to ASEAN was 5.23 trillion yuan, an increase of 0.9%; Imports and exports to Central and Eastern European countries reached 781.11 billion yuan, up by 2.7%; Imports and exports to five Central Asian countries reached 505.35 billion yuan, an increase of 34.8%.
Customs statistics show that in October this year, China imported 1.57 trillion yuan, a year-on-year increase of 6.4%, which strongly boosted the growth of foreign trade in that month. In the same period, the total import and export of Liaoning, Jilin and Heilongjiang provinces was 1.02 trillion yuan, an increase of 1.9%, which was higher than the national overall level, and achieved new results in promoting the comprehensive revitalization of Northeast China.
What do you think of the monthly and cumulative growth rate of foreign trade turning positive?
From the trend, the cumulative growth rate of China’s foreign trade in the first 10 months turned from a slight decrease of 0.2% in the first three quarters to an increase of 0.03%. Among them, the monthly growth rate in October turned from a year-on-year decrease for four consecutive months from June to an increase of 0.9%.
How to treat the monthly growth rate and cumulative growth rate of foreign trade as positive? Let’s listen to the interpretation of experts.
Wu Sa, Deputy Director of Economic Research Institute of China Macroeconomic Research Institute:In the first ten months of this year, the growth rate of China’s foreign trade turned positive, which was the comprehensive result of the effectiveness of the previous stimulus policies and the recovery of market fundamentals. This year, especially since the second half of the year, a series of "combination boxing" policies to stimulate the economy have been introduced in time and continued to exert their strength, which has improved the economic expectations of the market, boosted the confidence of enterprises, directly brought about the stabilization and improvement of domestic demand, and the recovery area has been expanding. In October this year, the growth rate of import volume of major commodities mostly rebounded from the previous month, and the rebound rate was significantly higher than the import price. From the perspective of economic fundamentals, in the first two quarters of this year, the national economy was low, medium and high before operation, and it showed stable operation and continued to improve in the third quarter. China is in an important period of accelerating the transformation of old and new kinetic energy and a critical period of promoting high-quality development, which contains huge development opportunities, which is also an important basis for promoting the continuous improvement of China’s foreign trade.