Recovery in Global Demand to Raise China’s Trade Balance
China’s foreign trade is looking positive in retaining its upward momentum as shown in the first quarter of 2021. This data is in comparison from the first quarter of 2020 as per customs. A survey of 20,000 export companies throughout China showed that they obtained more orders than the first quarter of last year. The data indicates uncertainties for their businesses this year and understand the risks and volatility of the international industrial and supply chains because of the COVID-19 impact and the challenging global environment.
Many companies are happy to benefit from the country’s policies that include tax and fee cuts and export rebates, to name a few. These policies are among the key drivers that help China maintain its competitive edge in the world of international trade while also helping it post growth despite the ongoing coronavirus crisis . As the world’s second-largest economy, China’s foreign trade plays a key role in determining and directing the trends in the world of global trade.
A spokesperson for the ministry said that the Chinese government will focus on the global business environment and plan on maintaining the stability, continuity, and sustainability of policies. The Chinese government will also continue to support exporters in increasing efficiency and cutting back costs. This will strengthen the stability and quality of the country’s foreign trade.
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