On July 7, at the regular press conference held by the Ministry of Commerce, some media asked: In the second half of this year, factors such as high inflation and the conflict between Russia and Ukraine pushing up commodity prices will still affect the global economic outlook. What is the Ministry of Commerce’s judgment on my country’s foreign trade environment in the second half of the year, and any suggestions for foreign trade enterprises?

In this regard, Ministry of Commerce spokesperson Shu Jueting said that since the beginning of this year, China’s foreign trade has withstood multiple pressures at home and abroad, and has generally achieved stable operation. From January to May, in RMB terms, imports and exports increased by 8.3% year-on-year. It is expected to maintain a relatively high growth in June.

Shu Jueting said that from the recent surveys of some places, industries and enterprises, the uncertain and unstable factors faced by my country’s foreign trade development in the second half of the year increased, and the situation was still complicated and severe. From the perspective of external demand, due to geopolitical conflicts and the accelerated tightening of monetary policies in some developed economies, the global economic growth may slow down, and the outlook for trade growth is not optimistic. From a domestic perspective, the foreign trade base in the second half of the year has increased significantly, the overall cost of enterprises is still high, and it is still difficult to receive orders and expand the market.

At the same time, there are still many favorable conditions for maintaining stability and improving the quality of foreign trade throughout the year. First, my country’s foreign trade industry has a solid foundation, and the long-term positive fundamentals have not changed. Second, various foreign trade stabilization policies will continue to be effective. All localities have further coordinated epidemic prevention and control and economic and social development, continuously optimized and refined policy measures, and stimulated the resilience and vitality of the foreign trade industry. Third, the new energy and other industries have a good growth momentum and are expected to continue to contribute to the increment in the second half of the year.

Shu Jueting said that in the next step, the Ministry of Commerce will work with all localities and relevant departments to implement policies and measures to stabilize foreign trade, from promoting foreign trade to ensure smooth flow, increasing fiscal, taxation and financial support, helping enterprises to seize orders and expand markets, and stabilize the foreign trade industry. Chain supply chain and other aspects continue to make efforts, continue to support enterprises to make full use of relevant policies and measures, and help the stable and healthy development of foreign trade enterprises. Specifically, the first is to help enterprises reduce comprehensive costs, make good use of export credit insurance tools, and improve their ability to accept orders and perform contracts. The second is to support enterprises to actively participate in various exhibitions, consolidate traditional markets and existing customers, and actively explore new markets. The third is to encourage enterprises to continuously improve their innovation capabilities, actively adapt to changes in overseas consumer demand, and promote the quality and upgrade of foreign trade.