Chen Wenjun:

Now the floor is open to questions. Please state the name of your news outlet before asking your question. Thank you.

Yicai:

Affected by a multiple factors including the coronavirus, there have been mixed views about China's foreign trade this year. What predictions do you have regarding China's imports and exports this year? What new policies and measures will the MOFCOM introduce to help foreign-trade companies stabilize industrial and supply chains? Thank you.

Wang Wentao:

Thank you. Your questions are about China's foreign trade outlook this year and what measures we are taking to maintain stability. First, let's quickly review its performance in 2020. Last year, General Secretary Xi Jinping made important instructions on stabilizing the overall performance of foreign trade and foreign investment, and the State Council adopted a series of policies and measures in this regard. All relevant departments and local governments made concerted efforts. Foreign-trade companies met the challenges head-on and worked hard. Generally, remarkable progress was achieved in China's foreign trade last year. The combined value of imports and exports for 2020 reached 32.2 trillion yuan, an increase of 1.9% year on year. These figures reveal three points: first, China was the only major economy that registered positive growth in foreign trade; second, China's foreign trade volume and international market share hit record highs; and third, the country maintained its position as the world's largest trading nation in goods.

The situation in relation to China's foreign trade will remain severe and complex this year. Demand hangs in the balance amid uncertainties caused by the COVID-19 pandemic. Factors affecting the stability of industrial and supply chains are also still appearing. We will take firm measures to maintain stability in the overall performance of foreign trade and foreign investment. Efforts will be focused on plans to optimize imports and exports, integrate foreign trade industries, and promote unimpeded trade. More specifically, we will pay attention to the following aspects:

First, we will continue to strengthen policy support. We will collaborate with local governments and relevant departments to maintain the continuity, stability and sustainability of our policies. We will solicit opinions from foreign-trade companies on a regular basis and help solve their problems. For example, we are working to facilitate international logistics, lower logistics costs, improve export credit insurance, ensure the reasonable release of foreign trade loans, and support companies in stabilizing and expanding employment. We are also making timely adjustments as conditions change, all while maintaining the continuity and stability of policies.

Second, we will ensure the stability and unimpeded flow of industrial and supply chains in foreign trade. More efforts will be made to push forward industry convergence in trade sector. We will identify a batch of new foreign trade bases for transformation and upgrading, and foster a group of processing trade industrial parks. We will also establish a batch of national import trade innovation-oriented demonstration zones to expand the scale of imports and boost the quality and efficiency of related industries. 

Third, we will help foreign trade enterprises to secure orders and expand the market, focusing on giving further play to the role of various platforms. We have several good platforms, and we will continue to make good use of them this year. We will hold the Fourth China International Import Expo (CIIE) and China International Fair for Trade in Services (CIFTIS) 2021. We will also make full use of important exhibition platforms such as the Canton Fair and the first China International Consumer Goods Fair (CICGF) to stabilize orders and expand the market for enterprises. Meanwhile, depending on the pandemic situation, exhibitions and fairs will adopt both online and in-person. We will advance development of the international marketing system, especially upgrading overseas warehouses, to promote the integration of domestic and foreign trade. We will also negotiate with more trading partners, especially Belt and Road countries, to set up a working mechanism for the unimpeded flow of trade, and create a favorable international environment for foreign trade enterprises.

Fourth, we will take the initiative to foster new forms and models of foreign trade. Since the outbreak of COVID-19, new forms and models of foreign trade have played an important role, such as cross-border e-commerce and market purchase trade. In 2020, the trade volume of China's cross-border e-commerce reached 1.69 trillion yuan, up 31.1% year on year, while the export through market purchases reached 704.54 billion yuan, up 25.2% year on year. Both of these double-digit growth rates indicate that the new forms and models have strong vitality. Next, we will give them more support, and contribute to stabilizing foreign trade this year. Thank you for your questions.