Ministry of Commerce: Keep processing trade in the country as much as possible
The Ministry of Commerce yesterday reported my country’s business operations in April this year. In April, the consumer market as a whole showed a steady growth trend. In terms of foreign investment, the first four months of this year maintained a continuous upward trend, with an increase of more than 70%.
Data Release
Total retail sales of consumer goods increased by 10.3% in the first four months
In April, the country’s total retail sales of consumer goods reached 2.46 trillion yuan, a year-on-year increase of 10.1%, an increase of 0.1 percentage points from the same period last year. The cumulative year-on-year growth from January to April was 10.3%. The monthly sales growth rate of the 5,000 key retail companies monitored by the Ministry of Commerce has rebounded for two consecutive months.
The person in charge of the Market Operation Department of the Ministry of Commerce said that the overall consumer market showed a steady growth trend in April. In the later period, with the upgrading of the domestic consumer goods industry, the successive implementation of policies to support personal credit consumption, and the arrival of the summer tourism season, the consumer market is expected to continue its steady and positive development trend.
Investment of US$4.91 billion in 49 countries along the Belt and Road
From January to April, my country’s foreign non-financial direct investment reached 391.45 billion yuan, a year-on-year increase of 71.8%, of which investment in the United States grew the fastest, reaching 235.7%.
The person in charge of the Cooperation Department of the Ministry of Commerce pointed out that from January to April, the number of overseas infrastructure construction projects undertaken by Chinese enterprises increased by 40% compared with the same period last year, with the value of newly signed contracts reaching US$43.25 billion. Chinese enterprises have made direct investments in 49 countries related to the “One Belt, One Road” initiative, with a total investment amount of US$4.91 billion, a year-on-year increase of 32%.
Hot Topics Response
Keep processing trade in the country as much as possible
The State Council recently issued “Several Opinions on Promoting Stabilization and Improvement of Foreign Trade”, proposing to further improve processing trade policies and support the transfer of processing trade to the central and western regions. In this regard, Ministry of Commerce spokesperson Shen Danyang said yesterday that the transfer from the coast to the central and western regions includes both the central and western regions directly attracting overseas investment, and it also includes undertaking transfers from the east. Now the eastern processing trade is undergoing transformation and upgrading, and some industries are also transferring to neighboring countries. “We hope that more of the transfer from the eastern region will go to the central and western regions, and that the transfer overseas will be less and slower, and that processing trade will be kept in the country as much as possible and its roots will be retained.” Shen Danyang said.
Shen Danyang said, “We hope that the parts of processing trade that are qualified for transformation and upgrading will develop better domestically. In this case, some special policies need to be adopted. Such policies should comply with WTO rules and strictly control environmental protection standards. Strict market access conditions and undertake transfers under such conditions.”
Shen Danyang also said that differentiated policies are necessary to guide the transfer of processing trade to the central and western regions. For example, the central and western regions should strengthen the protection of land for processing trade, and the land used for gradient transfer of processing trade in the eastern region can be converted into commercial, tourism, elderly care and other uses upon approval.
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