Chinese economy: MOFCOM: foreign trade hits a new high in 2021
China has become the world’s second-largest consumer market, the largest trader of goods for five consecutive years and the second-largest destination for foreign direct investment in 2021, the Chinese ministry announced on Tuesday. of Commerce during a press conference while unveiling the affairs of the country. and business performance for 2021. Yang Shanshan has more.
Despite COVID-19, China’s foreign trade hit new highs in 2021, with total imports and exports up 21.4 percent to RMB 39.1 trillion, or about $6 trillion. However, China’s Ministry of Commerce warns that the global economy still faces uncertainties in 2022.
LI XINGQIAN Head of Department of Foreign Trade Ministry of Commerce “The pandemic continues and there is still a risk of supply chain cuts, which could slow down the global economic recovery. We will support trade enterprises, diversify trade routes, use the international e-commerce platform to promote trade, improve the digitalization of trade, and develop green trade.
In 2021, China’s domestic consumption gradually recovered, and the total retail sale of consumer goods increased by 12.5%. As the world’s second-largest consumer market, consumption has remained the main driver of China’s economy. China also becomes the second largest destination for foreign direct investment in 2021, as well as a major global investor.
CHEN CHUNJIANG Head of Trade Service Department Ministry of Commerce “We will continue to reform and open up to the rest of the world. We will ease the automotive industry and provide land and tax policy to attract more foreign investors to invest in high-tech industries, advanced manufacturing, digital and green economy, as well as low-carbon technologies. carbon. We will also help foreign companies to solve their difficulties in China.
YANG SHANSHAN CGTN Reporter “To help support China’s economic growth, China promises to improve the business environment for investors and promote global trade through bilateral and multilateral cooperation. Yang Shanshan, CGTN.