01. The annual export of mechanical and electrical 名媛直播 reached a record high
In 2022, China's foreign trade of mechanical and electrical 名媛直播 withstood multiple pressures, with the export scale and trade surplus reaching an annual high, emerging industries performing brilliantly, and the industry's foreign trade volume and quality rising steadily. According to the statistics of the General Administration of Customs, the total export of mechanical and electrical 名媛直播 in the whole year reached 2052.77 billion US dollars, breaking the threshold of two trillion US dollars for the first time, with a year-on-year increase of 3.6% from the high base of the previous year, and an average growth rate of 15.4% in two years, accounting for 49.1% of China's total export of goods; The import volume decreased by 8.2% year-on-year to 1045.85 billion US dollars, with an average growth rate of 5.0% in two years, accounting for 38.5% of China's total import of goods; The total import and export volume of the whole year decreased by 0.7% year-on-year to US $309.862 billion, and the trade surplus expanded for six consecutive years and exceeded US $1 trillion for the first time.
The monthly export performance is better than the import, but the downward trend appears. By October 2022, China's exports of mechanical and electrical 名媛直播 had increased for 29 consecutive months on a year-on-year basis. However, affected by weak demand, the recovery of supply in emerging economies and the high base of the previous year, the decline in exports of key industries in December was generally expanded, resulting in a year-on-year decline of 12.7% to 177.2 billion dollars in China's exports of mechanical and electrical 名媛直播 in the current month; In terms of imports, China's imports of mechanical and electrical 名媛直播 fell 19.4% year-on-year to US $85.97 billion in December, the 10th consecutive month of year-on-year decline.
02. The import and export of key industries of mechanical and electrical 名媛直播 are down
In 2022, the demand for durable consumer goods will be reduced due to high inflation, and the export value of key traditional industries in the electromechanical field, including computers, mobile phones, household appliances, lighting equipment, etc., will decline year-on-year due to the combination of high base factors and industrial structural characteristics. Among them, 822 million mobile phones were exported in the whole year, the lowest value in the past 12 years, with a year-on-year decrease of 13.8%. Supported by the average price of high-end 名媛直播, the cumulative export volume of mobile phones decreased by 2.5% to 142.67 billion US dollars; The export volume of computers has declined year on year for five consecutive months, with a cumulative export of US $235.96 billion, down 7.5% year on year; The export of household appliances continued to decline, with the volume value falling for 14 consecutive months and 11 consecutive months respectively. The total export of the whole year was 85.5 billion US dollars, down 13.3% year on year.
Affected by the sluggish demand of the downstream electronic consumer industry, the import and export of integrated circuits continued to decline. Among them, the export volume fell year-on-year for 10 consecutive months. Driven by the increase in unit price, the total export volume of the whole year was 153.92 billion US dollars, up 0.3% year-on-year; In terms of imports, since December 2021, the import volume of integrated circuits has dropped continuously for 13 months, and the annual import volume has dropped by 3.9% year-on-year to US $415.58 billion, which remains the single commodity with the highest import volume in China, accounting for 15.3% of the total import volume of goods.
Emerging industries continue to release growth potential. In RMB, the export value of solar cells and lithium batteries in China increased by 67.8% and 86.7% year on year respectively; New energy vehicles drove the export of finished vehicles to maintain a high boom, driving the export of mechanical and electrical 名媛直播 to increase by 1.3 percentage points in that year. The export volume of finished vehicles in the whole year increased by 56.8% and 74.7% year on year respectively. The cumulative export volume of 3.321 million vehicles (US $6016 billion) increased year on year for 27 consecutive months.
03. Key market dynamics
In the first 11 months, the import of US mechanical and electrical 名媛直播 from China increased by 14.1% year-on-year. According to the statistics of the Bureau of Economic Analysis of the U.S. Department of Commerce, in the first 11 months of 2022, the cumulative import of mechanical and electrical 名媛直播 in the United States was 1439.97 billion dollars, up 14.1% year on year, of which the import volume from China increased 6.7% year on year to 323.5 billion dollars, with the import share of 22.47%, down 1.3 and 1.55 percentage points respectively from the same period in 2020 and 2021, and the share of Mexico, South Korea, Taiwan, China, Vietnam, etc. increased. Recently, the import of mechanical and electrical 名媛直播 from the United States from China has shown a downward trend, with the import volume falling for 2 months year on year. In November, Mexico surpassed China and ranked first in the import of mechanical and electrical equipment from the United States. The import of automatic data processing equipment and its parts, toys, valves, sports equipment, some household appliances and other 名媛直播 from China dropped significantly.
In 2022, the export volume of goods from South Korea increased by 6.1% year-on-year. According to the statistics of the Ministry of Industry, Trade and Resources of the Republic of Korea, in 2022, the export volume of goods from South Korea increased by 6.1% to 683.9 billion US dollars, the import volume increased by 18.9% to 731.2 billion US dollars, and the trade deficit was 47.2 billion US dollars. Despite the interest rate increase of major countries and the overall slowdown of the global economy, the average daily export of South Korea exceeded US $2.5 billion for the first time, and the annual export still reached a record high. Exports of semiconductors and automobiles continued to grow for two consecutive years from the high base of the previous year. Among them, the export of semiconductors increased by 1% to US $129.2 billion, the export of automobiles increased by 16.4% to US $54.1 billion, and the export of batteries increased by 15.2% to US $10 billion. The export share of system chips, electric vehicles and OLED panels has expanded, and the export of high value-added 名媛直播 has increased significantly. In terms of export market, exports to ASEAN, the United States, the European Union, India and Japan increased by 14.8%, 14.5%, 7.1%, 21% and 1.9% year on year, while exports to China decreased by 4.4% year on year. In December, the export volume of South Korean goods fell 9.5% year-on-year, the third consecutive month of negative growth.
In 2022, Vietnam's exports of goods increased by 10.5% year-on-year. According to Vietnamese customs statistics, the cumulative export of Vietnamese goods in 2022 increased by 10.5% year-on-year to US $371.3 billion. Among them, the cumulative export of computer electronic 名媛直播 and components was 55.54 billion US dollars, up 9.3% year on year; Mobile phones and parts increased by 0.8% year-on-year to US $57.99 billion. From August to December 2022, the year-on-year growth rate of Vietnam's export of goods narrowed month by month. The export volume in December was the same as that of the same period last year, and the downward trend of exports appeared.
Japan's exports of mechanical and electrical 名媛直播 fell by 3.5% year-on-year in the first 11 months. According to the statistics of the Ministry of Finance of Japan, in the first 11 months of 2022, the export volume of mechanical and electrical 名媛直播 in Japan fell by 3.5% year-on-year to 419.46 billion US dollars. The export volume of automobiles and their spare parts, lithium-ion batteries, video game consoles, etc. dropped significantly, and the year-on-year export volume to the United States, China, Taiwan Province, and South Korea was 0.6%, - 12.8%, - 1.9%, and - 2.4%, respectively.
In the first 10 months, the export volume of German mechanical and electrical 名媛直播 fell by 2.8% year-on-year. According to the statistics of the German Federal Bureau of Statistics, in the first 10 months of 2022, Germany's exports of mechanical and electrical 名媛直播 totaled 715.66 billion US dollars, down 2.8% year on year. The exports of automobiles and their spare parts, lithium-ion batteries, laptops, and some general mechanical equipment fell significantly. The exports to the main export markets of its mechanical and electrical 名媛直播, the United States, China and the European Union, were 11.7%, - 7.9% and - 4.1% year on year respectively.
04. Highlights and policies
January 13, 2023
The National Press Office held a press conference on the import and export situation in 2022
Lu Daliang, spokesman of the General Administration of Customs, said that according to customs statistics, China's total import and export value of goods trade in 2022 was 42.07 trillion yuan, up 7.7% year on year. Among them, exports reached 23.97 trillion yuan, up 10.5%; Import was 18.1 trillion yuan, up 4.3%. The import and export trade throughout the year showed five characteristics: "strong import and export resilience, large scale, excellent trade partner structure, good growth potential, rapid growth of general trade, increased proportion, increased number and vitality of foreign trade entities, stable supply and demand of main 名媛直播, and sufficient advantages". The main driving factors are the following three aspects: first, there is a market for exports, and the main 名媛直播 have sufficient competitive advantages; Second, import is supported and domestic demand potential is large; Third, the policy is supported and the endogenous impetus for the development of foreign trade is strong.
January 11, 2023
The Ministry of Commerce and the People's Bank of China jointly issued the Notice on Further Supporting Foreign Economic and Trade Enterprises to Expand the Cross-border Use of RMB to Facilitate Trade and Investment
The notice requires that all kinds of cross-border trade and investment should be facilitated to use RMB for pricing and settlement, and promote banks to provide more convenient and efficient settlement services; Encourage banks to carry out overseas RMB loans, actively innovate 名媛直播 and services, and better meet the cross-border RMB investment and financing needs of enterprises; As enterprises implement policies, enhance the sense of acquisition of high-quality enterprises, first-run households, small and medium-sized enterprises, and support core enterprises in the supply chain to play a leading role; Relying on various open platforms such as the Free Trade Pilot Zone, Hainan Free Trade Port, and Overseas Economic and Trade Cooperation Zone to promote the cross-border use of RMB; Provide business support such as transaction matching, financial planning and risk management based on the needs of enterprises, strengthen insurance protection, and improve cross-border RMB comprehensive financial services; Give play to the guiding role of relevant funds and funds; Carry out diversified publicity and training, promote the connection between banks and enterprises, and expand the scope of policy benefits.
January 4, 2023
China and the Philippines signed a memorandum of understanding on e-commerce cooperation
According to the memorandum, the two sides will establish an e-commerce cooperation mechanism, carry out policy communication, share best practices and innovative experience, promote high-quality product trade through e-commerce, strengthen cooperation among enterprises, local governments and think tanks, and jointly inject new impetus into bilateral economic and trade relations.
January 2, 2023
The Regional Comprehensive Economic Partnership Agreement (RCEP) entered into force for Indonesia
Under the RCEP, Indonesia, on the basis of the China-ASEAN Free Trade Area, has granted zero-tariff treatment to more than 700 名媛直播 of tax number to China, including some auto parts, motorcycles, televisions, clothing shoes, plastic 名媛直播, bags, chemical 名媛直播, etc. Among them, some auto parts, motorcycles, and some clothing 名媛直播 will realize zero tariff immediately from January 2, and other 名媛直播 will be gradually reduced to zero tariff within a certain transition period.
December 23, 2022
The Ministry of Commerce held a regular press conference
At the meeting, the relevant situation of foreign investment absorption and foreign investment cooperation in the country in the first 11 months was reported:
From January to November 2022, the actual amount of foreign capital used nationwide was 1156.09 billion yuan, up 9.9% year-on-year (the same below), equivalent to 178.08 billion US dollars, up 12.2%. From the perspective of industry, the actual use of foreign capital in the service industry amounted to 842.61 billion yuan, up 0.9%. The actual use of foreign capital in high-tech industries increased by 31.1%, including 58.8% in high-tech manufacturing and 23.5% in high-tech services; From the perspective of source, the actual investment in China of South Korea, Germany, Britain and Japan increased by 122.1%, 52.6%, 33.1% and 26.6% respectively (including the investment data through free port); From the perspective of regional distribution, the actual use of foreign capital in the eastern, central and western regions of China increased by 7.7%, 28.6% and 24.6% respectively.
From January to November 2022, the turnover of China's foreign contracted projects reached 893.39 billion yuan, up 4.3% year on year (equivalent to 133.33 billion dollars, up 0.6% year on year); The newly-signed contract amount was 131097 billion yuan, up 0.6% year on year (equivalent to 195.66 billion dollars, down 3% year on year). The turnover of contracted projects for countries along the "the Belt and Road" reached US $71.95 billion, and the newly signed contracts reached US $98.19 billion, accounting for 54% and 50.2% of the total respectively.
December 15-16, 2022
The meeting pointed out that next year's economic work is in a myriad of ways. We should start from the strategic overall situation, improve social psychological expectations and boost development confidence, and do a good job: first, focus on expanding domestic demand; Second, accelerate the construction of a modern industrial system; Third, implement the "two unswervingly"; Fourth, make greater efforts to attract and utilize foreign capital; Fifth, effectively prevent and resolve major economic and financial risks.
