According to data released by the General Administration of Customs of China, from January to November this year, the total value of China’s imports and exports reached 29.04 trillion yuan, a year-on-year increase of 1.8%. In November, China’s exports were 268.07 billion U.S. dollars, a year-on-year increase of 21.1%, and the growth rate of exports hit a new high since March 2018.
In the context of the severe impact of the new crown pneumonia epidemic on the world economy, economic data such as China’s foreign trade rebounded strongly, which is of great significance to the recovery of the world economy.
First, China has a complete industrial chain and strong production capacity, which can provide protection for the global supply chain, especially the anti-epidemic material supply chain.
Second, as a large domestic demand-driven economy, China’s economic data will inevitably be accompanied by the continuous expansion of the domestic demand market, which will bring more business opportunities to companies from all over the world.
Third, China is accelerating the transformation of its economic structure, and its investment in scientific and technological research and development and its capabilities continue to increase, which will stimulate global economic growth. In the long run, economic development depends on scientific and technological breakthroughs. During the epidemic, China’s Internet, 5G, big data and other fields have developed rapidly, which is expected to accelerate the arrival of a new round of technological revolution and provide new impetus for the development of the global economy.
Fourth, the rapid growth of China’s imports and exports has shown the international community that economic globalization and multilateralism are still the major trends in world development. This enlightens all countries that the global economy is closely linked, and no country can be a prison. Only by uniting and strengthening cooperation can the country and the world economy emerge from the haze of the epidemic as soon as possible.
Post time: Dec-14-2020