Deeply integrate into the joint construction of the “the Belt and Road”, use RCEP and other free trade agreements, strengthen multilateral and bilateral cooperation, consolidate traditional markets, and vigorously expand emerging markets… Read the work reports of local governments, put forward the implementation of diversified international market development strategies in many places, and promote the stability and quality of foreign trade.
With the first “Golden Decade” of the joint construction of the “the Belt and Road” and the implementation of the Regional Comprehensive Economic Partnership Agreement (RCEP) for more than two years, China has continuously expanded its cooperation with emerging markets, and its trading partners have become increasingly diversified. In 2023, the import and export of China and the “the Belt and Road” countries will grow by 2.8% year on year, accounting for 46.6% of China’s total foreign trade value, and both the scale and proportion are the highest since the proposal was put forward; The total imports and exports to the other 14 RCEP member countries amounted to 12.6 trillion yuan, an increase of 5.3% compared to 2021 before the agreement came into effect.
In 2024, many regions actively leverage their geographical advantages and resource endowments, and launch various measures tailored to local conditions to further promote international economic cooperation and assist enterprises in exploring new markets.
Shandong, located in the central area of economic cooperation in Northeast Asia, has proposed to vigorously expand new markets, promote the “Good Shandong Lu Mao Global” brand, organize about 260 overseas exhibitions, deeply cultivate Europe, America, Japan, and South Korea, and make greater efforts to develop emerging markets such as ASEAN, Central Asia, the Middle East, Latin America, and Africa; Fujian will promote the upgrading of open platforms, actively promote the integrated development of the “Silk Road Maritime” port, aviation and trade, and build high-level demonstration parks for economic and trade innovation and development between China, Indonesia, and the Philippines, as well as BRICS innovation bases, to enhance the scale and efficiency of China Europe (Asia) freight trains; Heilongjiang will deeply connect with regional cooperation such as RCEP, expand cooperation areas and economic and trade scale, consolidate traditional trade markets such as the European Union and the United States, and expand emerging trade markets such as the Middle East, Latin America, and Africa.
The central and western regions also have unique advantages and enormous potential. In 2023, Hunan took new steps in economic and trade cooperation with Africa, with a total annual trade volume of 55.67 billion yuan and an average annual growth rate of 23.1% in the past three years. At the same time, Hunan successfully held the third China Africa Economic and Trade Expo, and the overall plan for the construction of a pilot zone for deep economic and trade cooperation between China and Africa was approved by the State Council. In 2024, Hunan will establish a high standard pilot zone for deep economic and trade cooperation between China and Africa, actively strive for pilot projects of new barter trade between China and Africa, and strive to double the trade volume with Africa; Successfully organize major economic and trade activities such as the 13th Central China Expo and the 11th Global Hunan Business Conference.
In addition, Chongqing will make every effort to stabilize its foreign trade scale, explore emerging markets such as ASEAN, South America, and Africa, tap into the import potential of key equipment, high-end equipment, biopharmaceuticals, and food raw materials, and explore the import distribution business of bulk commodities such as energy, minerals, and grain; Guizhou proposed that it would implement the action of improving quality and efficiency in foreign trade, focus on the market demand in Southeast Asia, South Asia and Central Asia, organize the production and export of marketable products, and continue to enhance the export competitiveness of key products such as new energy batteries, Baijiu, fertilizer, tires, tea, guitar, etc; Yunnan proposes to deeply tap the potential of goods and services trade under RCEP, continuously create a key recipient area for national processing trade gradient transfer, and innovate the integrated development model of cross-border e-commerce “exhibition warehouse broadcasting”.
Liu Xiangdong, Deputy Director of the Economic Research Department of the China International Economic Exchange Center, stated in an interview with the International Business Daily that this year, high-quality implementation of RCEP should be continued to deepen the cultivation of regional trade markets; Stabilize exports to developed economies, and guide enterprises to further explore the markets of the “the Belt and Road” countries and developing countries.
Post time: Mar-07-2024