Financial Observation: China's Open Capacity Continues to Improve, Accelerating Global Trade Cooperation

Amidst the buzzing sound of the printer, a RCEP origin declaration is "freshly released". With this independently issued declaration of origin, a batch of tire molds worth 39600 yuan exported by an intelligent equipment enterprise located in Jieyang, Guangdong can enjoy a tax discount of about 1980 yuan in the destination country.

After becoming an approved exporter, our self issued declaration of origin and certificate of origin issued by the visa agency have the same legal effect and do not require a visa, which facilitates customs clearance and benefits, "said the person in charge of the company.

For businesses, tariff reductions are the most direct and tangible benefit of the Regional Comprehensive Economic Partnership (RCEP) agreement. On June 2nd last year, RCEP came into full effect for 15 signatory countries. For over a year, qualified import and export enterprises have been competing to apply and enjoy policy dividends.

According to data from the China Council for the Promotion of International Trade, in May of this year, the national trade promotion system issued a total of 568300 certificates of origin, ATA Carnets, commercial certificates, and other types of certificates, an increase of 13.64% year-on-year, demonstrating the strong resilience and vitality of foreign trade.

This is a microcosm of China's continuous expansion of high-level opening up to the outside world and providing new impetus for economic globalization.

In recent years, the scale of China's goods trade has reached new highs. In 2023, the total import and export volume of goods reached 41.8 trillion yuan, and the international market share of exports increased from 11.1% in 2012 to 14.2%. The stable growth of foreign trade scale and continuous optimization of structure have made positive contributions to promoting the sustained recovery and improvement of the Chinese economy. According to data from the National Bureau of Statistics, in the first half of the year, net exports of goods and services contributed 13.9% to economic growth, driving GDP growth by 0.7 percentage points.

With the joint construction of the "the Belt and Road" initiative and other initiatives to continue to promote the smooth trade of countries around the world, the tentacles of trade facilitation cooperation are strongly extended to South America.

On July 9th, Chile's "Messenger" reported that in the first five months, Chile's total food exports were 9.95 billion US dollars, of which exports to China were 2.567 billion US dollars, a year-on-year increase of 16.6%, accounting for 25.7% of Chile's total food exports. Among them, cherries are the preferred "star product" for Chinese consumers, with 90% of exports flowing to the Chinese market, and the export volume in the first five months reaching 1.812 billion US dollars. Fernandez, the director of the Chilean Trade Promotion Agency, stated that the free trade agreement, the animal and plant quarantine agreement, and activities such as the "Chile Week" are key to promoting China as the largest export market for Chilean food.

While helping foreign products' enter ', Chinese enterprises are stepping up their pace to' step out 'with outstanding products.

According to comprehensive data from Brazilian government departments and industry associations, China's exports of passenger cars to Brazil increased by 372.4% in the first four months of 2024, reaching a total of 762 million US dollars, setting a new historical high for the same period. At present, electric vehicles have become the fourth largest major product exported by China to Brazil. According to a report by the Brazilian Electric Vehicle Association, BYD, Chery, and Great Wall Motors are among the best-selling electric vehicle brands in Brazil in 2023.

To promote the development of international trade, we cannot do without the basic support of the "golden smooth road". Recently, a train carrying 20 containers of 360 tons of asbestos was shipped from Dunhuang Railway West Station, and after passing through the Western Land Sea New Channel to Pingxiang Port in Guangxi, it will be shipped by sea to Hanoi, Vietnam. Gansu, located in the inland hinterland of northwest China, can export its characteristic products to Vietnam through the "Iron Sea Intermodal Transport" of the Western Land Sea New Corridor. This not only effectively simplifies the business process, but also achieves cost reduction and efficiency improvement.

With the acceleration of the interconnection of transportation infrastructure between China and Vietnam, the import and export of goods between the two countries have significantly increased, and bilateral trade continues to maintain a good development momentum. The trade volume has increased from over 2.4 billion US dollars in 2000 to over 234.9 billion US dollars in 2022. More and more domestic specialty agricultural products are appearing on the dining tables of Vietnamese consumers.

At the same time, in Laos, Vietnam's neighbor, China Laos railway international passenger trains inject new momentum into the high-quality development of the "Golden Corridor". As of July 15, Kunming Customs had supervised the import and export of 3027200 tons of goods and 10.197 billion yuan of goods value of the China Laos Railway, up 29.1% and 61.9% year on year respectively. It had guaranteed the operation of 510 international passenger trains of the China Laos Railway and supervised more than 126700 inbound and outbound passengers.

In addition to the China Laos Railway, a number of landmark projects such as the Ya'an Wanzhou High speed Railway and the Hungary Serbia Railway have been completed and put into operation; The China Europe freight train has opened up a new land transportation channel between Asia and Europe, and the international route network of "Silk Road Maritime Transport" covers the world; The interconnection architecture of "Six Corridors, Six Roads, Multiple Countries, and Multiple Ports" has basically formed... A multi-level and composite infrastructure network has laid a solid foundation for promoting global economic, trade, and production capacity cooperation.

According to the latest forecast from the World Trade Organization, the global trade volume of goods is expected to increase by 2.6% in 2024. WTO Director General Ivira believes that this is due to the resilience of global supply chains and a stable multilateral trade framework, and the global trade recovery is making progress.

Industry analysis believes that China's opening door is getting bigger and bigger, actively creating new opportunities for global trade and cooperation. It can be foreseen that with the growth of external demand and the continued implementation of stable foreign trade policies, China will continue to be an important force in promoting global trade recovery.