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China Has Stronger Power to Compete Against Foreign Trade Pressure

Global markets still rely on Chinese products, and will continue to do so as new and emerging markets develop

By Zhang Qingchen Updated Aug.10

China's Ministry of Commerce said in July that no matter in scale, structure, quality or efficiency, China’s foreign trade, in the first half, generally achieved rapid growth. An official from the Academy of China Council for the Promotion of International Trade (CCPIT) said China is increasingly advancing its ability to resist pressure on foreign trade, the Economic Daily reported.

Zhang Ping, head of the international trade research department at CCPIT, noted the reasons why China’s foreign trade is promising. The first is that the world market still partly relies on China’s exports, though the global economy remains uncertain. The development of new economies and emerging countries will be beneficial for the diversity of Chinese foreign trade. Also, in terms of the structure of import and export commodities, the export of high value-added products has increased rapidly, which is conducive to further promoting the optimization of the foreign trade structure.  

In order to boost further foreign trade development, Zhang said that interaction between trade and investment is needed, because trade and investment has a close relationship. If Chinese enterprises want to improve their competitiveness in the global market, they should take advantage of foreign direct investment to engage in global resources allocation and reduce the costs of production, Zhang added.