Export profits of foreign trade enterprises improved in the second quarter

In the second quarter of this year, with the overall improvement of domestic epidemic prevention and control situation, the effect of policies and measures to stabilize growth gradually appeared, positive changes occurred in the operation of foreign trade, and foreign trade enterprises' expectations for annual growth increased.
"The foreign trade volume of foreign trade enterprises showed a restorative growth momentum, and the export profits of most industries improved from the first quarter." Fengyaoxiang, spokesman of the China Council for the promotion of international trade, said at the regular press conference held by the China Council for the promotion of international trade a few days ago that by comprehensively analyzing the domestic and international production leading index, the expectations of large and medium-sized foreign trade enterprises and other factors, foreign trade enterprises' confidence in the growth of annual trade volume has been restored.
On June 29, the "survey report on China's foreign trade situation in the second quarter of 2022" released by the China Council for the promotion of international trade (CCPIT) showed that there were four polar changes in the operation of foreign trade in the second quarter of this year: first, the operation of foreign trade enterprises has improved; second, the main problems faced by foreign trade enterprises have improved; third, foreign trade is basically oriented to a good trend; fourth, foreign trade enterprises' expectations for annual growth have increased.
According to the business situation in the second quarter, the survey results show that 25.43% of enterprises' trade volume increased month on month, and 19.98% of enterprises' profits increased month on month. The growth of export profits of high value-added industries has become a new bright spot. At the same time, 22.65% of enterprises' new orders increased compared with the first quarter, and 30.43% of enterprises' order growth was the same as that of the first quarter. The market sources of new orders were more diversified. As for the expectation of foreign trade growth this year, 26.22% of enterprises expect the annual trade volume to increase, and 28.17% of enterprises believe that it is at least the same as last year. Among them, large enterprises are expected to be relatively stable, medium-sized enterprises are optimistic about the annual foreign trade situation, and the confidence of small and micro enterprises is gradually enhanced.
Among the many reasons for the improvement of the foreign trade situation, the foreign trade rescue policy has played an important role. Since the end of last year, China has issued a series of policy documents to stabilize foreign trade and promote development, such as the opinions on doing a good job in cross cycle regulation to further stabilize foreign trade and the opinions on promoting the integrated development of domestic and foreign trade issued by the general office of the State Council.
"The policy of stabilizing foreign trade has obvious effect in relieving difficulties, and enterprises have high recognition." Feng Yaoxiang said that according to the questionnaire survey, 55.97% of enterprises believe that accelerating export tax rebate is the most helpful for enterprises to alleviate the pressure of cash flow, 54.8% of enterprises and 48.21% of enterprises believe that accelerating tax reduction and fee reduction and alleviating logistics pressure are more effective in solving the actual operation difficulties of foreign trade enterprises.
In addition, the problems of high logistics costs, difficult and expensive financing, and large exchange rate fluctuations that have plagued foreign trade enterprises are also gradually being alleviated, and the difficulty of employment is generally controllable. The survey results showed that 22.13% of enterprises said that the logistics cost was lower than that in the first quarter; 15.05% of enterprises believed that the cost of capital decreased over the same period last year, an increase of 3.38 percentage points over the first quarter; Only 15.63% of enterprises said that employment difficulties were prominent, down 3.87 percentage points from the first quarter.
The regional comprehensive economic partnership agreement (RCEP) also plays an important role in foreign trade enterprises. Feng Yaoxiang said that RCEP has been officially implemented since January 1 this year and is being mastered and used by more and more enterprises. According to the data released by the China Council for the promotion of international trade, in the first five months of this year, 43600 RCEP certificates of origin were issued by the national trade promotion system, with a total of more than 10000 enterprises handling certificates, and the total amount of visas reached US $2.082 billion, which is expected to be US $31million in tariff relief for Chinese products in RCEP member countries. From the perspective of export commodity classification, it mainly includes clothing and clothing accessories, organic chemicals, plastics and their products.
For the next stage of development, Feng Yaoxiang said that foreign trade enterprises put forward four policy suggestions: first, continue to strengthen the implementation of tax cuts and fee reductions to reduce the costs of foreign trade enterprises; The second is to strengthen the efforts of online exhibitions and overseas exhibitions, and broaden the channels for enterprises to grab orders and guarantee orders; Third, innovate the service mode and safeguard the overseas interests of enterprises; Fourth, organize matchmaking meetings for processing trade enterprises in the East, central and western regions to promote the gradual transfer of labor-intensive foreign trade industries in China.