By Cui Can
A Chinese official said on Wednesday that the outflow of China's foreign trade orders is controllable and its impact has been limited.
Li Xingqian, director general of the Department of Foreign Trade of the Ministry of Commerce, attends a policy briefing in Beijing on June 8, 2022. [Photo by Xu Xiang/China SCIO]
Li Xingqian, director general of the Department of Foreign Trade of the Ministry of Commerce, said that starting this year, as China's neighboring countries gradually restored normal production, some overseas orders that moved to China last year has once again shifted to those countries. However, the impact from this shift has been limited, Li said.
He pointed out that some industries moving away from China is also "in line with the law of economics." As China continues to upgrade its industrial sectors, some companies have chosen to move their manufacturing sector outside China. The shift can be attributed to the international industrial division of labor, Li said.
Nevertheless, Li said China's position in the global industrial and supply chains is still stable. China owns a complete industrial system, and has remarkable competitive strengths in infrastructure, industrial supporting capacity, and talent pool, he said. China's business environment is continuing to improve, and its market's enormous scale also makes it more and more appealing, he added.
In the first four months of this year, the actual utilization of foreign capital in China was up 26% year on year, with foreign capital utilized by the manufacturing sector surging by 65%, Li said.
