According to data released by China's Ministry of Commerce recently, China's goods exports in the first seven months of this year reached a record high of 11.66 trillion yuan, up 24.5% year on year and the fastest growth rate in 10 years. China's latest export data are impressive and have drawn high attention from the international community. Chinese goods sell well in the international market, what is the charm? Foreign media are searching for answers.
"Fills almost every known field"
Data from China's Ministry of Commerce showed that in terms of export markets, China's exports to traditional markets such as the United States, the European Union and Japan increased by 22.6% from January to July. Trade cooperation with emerging markets was deepened. Exports to ASEAN, Latin America, Africa and other emerging markets increased by a combined 26.5%, boosting overall export growth by 13 percentage points.
"At present, China's export trade fills almost every known field in the world," Russia Today reported on its website. In particular, Chinese electronics are expanding to more parts of the world."
"The label 'Made in China' is particularly popular during the epidemic." According to a report in the New York Times, "U.S. and European companies are turning to Chinese products as people in their homes renovate and store more food during the lockdown." Some foreign media have observed that short videos with the hashtag "Made in China" are very popular on overseas social media platforms, with many foreign netizens liking and leaving comments, asking how to buy goods.
South Korea's Joongang Ilbo noted that about half of the equipment used in the Tokyo Games came from China. "The first thing that caught my eye was that the clothes worn by the refugee delegation, consisting of 29 refugees from 11 countries, were made and provided by a Chinese time-honored brand enterprise 'Hengyuanxiang'. At the Olympic Games, Chinese products can be seen everywhere. Chinese companies provide equipment for table tennis, badminton, weightlifting, taekwondo, archery and wrestling. Chinese Internet technology is also playing a big role, with Chinese company Alibaba using 3D technology to track athletes' games, providing a great experience for those who could not make it to the games."
"The competitiveness of China's manufacturing industry has been recognized by the world." In the past, China mainly made OEM products for other factories, but now it is able to provide high-quality Chinese products for various international competitions such as the Olympic Games, the Joongang Daily noted. "Made in China" appeared in the Olympic Games, for Chinese athletes, is a special way to cheer.
Chinese companies are focusing on innovation and brand building to improve the perception of Western consumers and build global brands, the Nihon Keizai Shimbun reported. The article quotes a marketing consultant as saying that Chinese brands are very good at "storytelling," with products that satisfy both functional and emotional needs.
"Scientific and technological Level of Export Products improved"
China's Ministry of Commerce pointed out that new drivers of foreign trade continued to strengthen, with new energy vehicles driving the growth of automobile exports. In the January-July period, auto exports rose 102.5 percent year on year, a record growth rate for the same period.
According to Reuters, the momentum is good for China's electric vehicle and new energy companies. "The projected capacity of renewable energy in China's latest five-year plan provides ample reason for optimism."
Singapore's Lianhe Zaobao reported recently that China has pledged to the world to strive to achieve a carbon peak by 2030 and carbon neutrality by 2060. Some of the world's top asset managers believe that China's renewable energy sector will remain strong, with room for further expansion, given the favorable earnings outlook and policy support, and that China is expected to continue to dominate global production of electric vehicle batteries and solar panels. In addition, the international expansion of major players in the industry has further enhanced the confidence of global funds.
With the continuous improvement of the technological level of China's manufacturing industry, more and more "made in China" is gaining popularity in the international market with its scientific and technological appeal, triggering hot discussions in foreign media.
The Joongang Ilbo pointed out that "made in China" is not only "manufacturing", but also the creation of technology. Chinese goods made with more advanced technology can be trusted. The quality of "made in China" is among the best in the world.
Bloomberg recently reported that a Harvard University study showed that the technological level of Chinese exports has improved in recent years. According to the study, which uses the sophistication and complexity of its exports as indicators, China rose three places in 2019 compared to 2018. One researcher said that although the study did not include data from the COVID-19 outbreak, he believed China would continue to move up the rankings. "The technological level of China's exports has surpassed that of some developed countries, and technological innovation is needed to continue to maintain this trend."
On August 7, the Russia Today website published an analysis of the signals sent by the Harvard study. 'The results clearly show that suppressing China's development has no effect and China will not slow down its development,' the article said. "China is moving up the global supply chain, not out, by increasing its technological prowess. 'Made in China' has been misperceived as cheap and low-end, but this is not true. Such rhetoric is not only biased against China, but also apparently blind to the transformation of China's industrial capabilities over the past 20 years. "China is overcoming the negative impact of the trade war and technology war initiated by Washington by increasing high-tech exports to other regions."
"Stabilizing global supply chains in the face of COVID-19"
Against the backdrop of COVID-19 affecting production in many countries, "Made in China" has continued to improve its quality and adjust to changes in the world market, playing an important role in stabilizing the global industrial and supply chains. Foreign media gave positive comments.
"Chinese exports rise to record high." As the pandemic roils the world, China's economy is outperforming all other major economies, according to a CNN article. "By opening its doors for business, China has met the huge demand for protective equipment and electronic products from all countries." The Wall Street Journal also pointed out that China can produce and export medical supplies and home office equipment such as laptop computers in large quantities. "Chinese factories are ready to serve consumers in other countries."
Greece's "Modern Diplomacy" recently published an article saying that It took more than 30 years of focus, rigor and hard work for China to achieve its status as a global manufacturing center. In the face of the challenges brought by the epidemic, the Chinese economy has shown resilience. China has held its ground and remains a global manufacturing hub. In the future, China is expected to gradually reduce low-end production activities and continue to expand export market share in high-end sectors. "For now, the global supply chain with China is solid."
"China is now the cornerstone of the global economy." China's supply chain is more resilient and competitive than any other country, according to an analysis on the Website of Russia Today. First, China has an incomparable cost advantage due to its abundant labor force and perfect infrastructure. Secondly, the large size of the Chinese market and the strong domestic demand make it easier for enterprises to make profits and develop. Finally, China has many advantages as a global trading and commercial hub, with manufacturing and industrial capabilities on a global scale. Coupled with the belt and Road Initiative and strong support from China-Europe freight trains, China remains a core part of the global supply chain, and the "decoupling" advocated by some Western countries from China is impossible in reality.
