Responding to Global Trade Changes with Openness and Innovation
“We must accelerate the building of a trade powerhouse, upgrade goods trade, innovate services trade, and develop digital trade.” “We must gradually shift from large-scale imports and exports to high-quality imports and exports, promoting the transformation from a large trading nation to a strong trading nation.” These major strategic arrangements made by the central authorities point the way forward for building a trade powerhouse in the new era.
Trade is a key link connecting domestic and international economic cycles and building a new development pattern, as well as a powerful engine driving economic growth. The 15th Five-Year Plan outlines accelerating the construction of a trade powerhouse, improving the quality and efficiency of foreign trade, and promoting balanced development of imports and exports.
Since the 18th National Congress of the Communist Party of China, various regions and departments have deeply implemented economic thought, firmly expanded high-level opening-up, accelerated the pace of building a trade powerhouse, and continuously consolidated the status of a major trading nation. They respond to global trade changes with openness and innovation, injecting strong momentum into world economic development through win-win cooperation.
Strengthening Strategic Guidance to Solidify the Foundation of a Trade Powerhouse
On May 20, a 115,000-ton oil tanker built by a major shipyard was officially delivered. Since the beginning of this year, China’s shipbuilding industry has received a continuous stream of new orders, securing over 90% of the world’s new orders for very large crude carriers.
In the first four months of this year, China’s total goods trade import and export value reached 16.23 trillion yuan, a year-on-year increase of 14.9%. During the same period, exports of high-tech, high-value-added electromechanical products accounted for 63.5% of total exports.
The current century-old changes are accelerating, international situations are complex and intertwined, and a new round of technological revolution and industrial transformation is reshaping the global competitive landscape. China’s foreign trade has achieved growth against the trend, steadily advancing, witnessing solid steps from a large trading nation to a strong one.
In 2013, China became the world’s largest goods trading nation, a historic leap in foreign trade. However, scale does not equal competitiveness. At that time, China faced prominent contradictions of being “large but not strong,” such as the weakening traditional advantages of low-cost manufacturing and lagging development of high-value-added services trade.
On December 5, 2014, during a collective study session, it was pointed out that “we must assess the situation and strive to seize opportunities and gain initiative in economic globalization,” emphasizing the need to “accelerate the transition from a large trading nation to a strong trading nation.”
Since the 18th National Congress, the central authorities have grasped the trends of the times, followed the historical tide, coordinated domestic and international situations, and promoted high-level opening-up. China’s foreign trade has achieved historic accomplishments and is steadily moving towards a trade powerhouse.
Building a trade powerhouse provides important support for accelerating the formation of a new development pattern.
The new development pattern is an open domestic and international dual circulation, not a closed domestic single cycle. Foreign trade is a key hub for smoothing domestic and international dual circulation and one of the “three carriages” driving economic growth.
Since the 14th Five-Year Plan, China’s total import and export value has successively exceeded 40 trillion and 45 trillion yuan thresholds, with an average annual growth of 7.1%. High-tech product imports and exports have grown by an average of 7.9% annually, consolidating the status of a major goods trading nation, with the “innovation content” and “green content” of foreign trade continuously improving.
Building a trade powerhouse is conducive to better utilizing both domestic and international markets and resources, promoting market connectivity, industrial integration, innovation mutual promotion, and rule alignment. It advances high-level technological self-reliance, enhances the resilience and security of industrial and supply chains, and deepens participation in global industrial division and cooperation, forming a virtuous cycle at a higher level of openness.
Building a trade powerhouse is an objective requirement to meet the people’s needs for a better life.
From cross-border e-commerce to warehousing and logistics, from offshore trade to bonded maintenance, new models and new formats of foreign trade absorb a large amount of employment. Imports of advanced technology equipment, key components, and energy resources inject momentum into industrial upgrading. Imports of high-quality consumer goods and services enrich the supply of high-quality products for expanding domestic demand.
Since the 14th Five-Year Plan, China’s share of the global import market has remained around 10%, and
