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Further Expanding Imports to promote World Economic Development

  Finance and Economics - Further Expanding Imports to promote World Economic Development

  "Further expansion of imports is an inherent requirement for deepening reforms and expanding openness. It will also demonstrate the responsibility and responsibility of China's great powers and will also play an important role in promoting world economic development."

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  On July 9, the General Office of the State Council issued a notice to forward the Opinions on Expanding Imports to promote Balanced Development of Foreign Trade (hereinafter referred to as the "Opinions") of 20 departments including the Ministry of Commerce, aiming at stabilizing exports while further expanding imports and promoting Balanced development of foreign trade, promote high-quality economic development, and maintain free trade.

  The "Opinions" mainly proposes policy measures from four aspects to expand China's imports: first, optimize the import structure and promote the upgrading of production and consumption structure; second, optimize the international market layout; third, actively promote multi-channel promotion; fourth, improve trade. Free and convenient conditions.

  Since the reform and opening up 40 years ago, China's economic construction has made great progress. Today, China has grown into the world's second largest economy, which depends to a large extent on China's unswervingly opening the outside world. Under the current trend of economic globalization and trade integration, further expansion of opening up is the only way to adapt to the development trend of globalization and to develop itself while achieving win-win cooperation.

  Increasing imports is an important aspect of expanding openness. We must know that domestic demand is the basic driving force for China's economic growth. Especially in the context of China's rapid economic development, the main social contradictions have been transformed into contradictions between the people's growing needs for better life and the uneven development. Residents have an inevitable requirement to improve their quality of life while their income levels and consumption levels are growing.

  In fact, in recent years, China’s import and export level has been in a state of steady growth, which is due to the further expansion of the achievements of opening up. In 2018, China's trade surplus has also continued to narrow. Import and export data show that from January to May 2018, China's total import and export value was 11.63 trillion yuan, an increase of 8.8% year-on-year. Among them, the import value was 5.49 trillion yuan, a year-on-year increase of 12.6. %, the trade surplus was only 649.8 billion yuan, down 31% year-on-year.

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  As early as April this year at the Boao Forum for Asia, China has proposed four major measures to further deepen reforms and expand opening up. One of them is to further liberalize imports. The State Council executive meeting on May 30 this year also decided to reduce the import tariffs on daily consumer goods from July 1 this year.

  To further expand imports, at least the following positive effects: First, expanding imports is an inevitable choice for the transformation and upgrading of China's consumption structure. Since the beginning of the 21st century, the income of Chinese residents has continued to increase, and the proportion of middle-income people is increasing. Under this circumstance, consumers are increasingly demanding the quality of consumer goods and consumer goods. The needs, especially some high-quality products and services, can only be provided by foreign high-quality enterprises, and further expansion of imports can not only better meet the needs of residents' consumption, but also expand the welfare of residents, which is also of great significance for attracting consumption.

  Second, expanding imports can force domestic enterprises to transform and upgrade. Nowadays, China is in the critical period of supply-side structural reform. Some domestic enterprises still have a big gap in product and service compared with foreign companies. Further expansion of imports is not only conducive to the domestic enterprises to face the gap through the comparison of domestic and foreign products and services, to make changes in innovation capabilities, business ideas, etc., but also to learn advanced technology, through the combination of Chinese and Western ways to achieve "1 + 1> 2" effect.

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  Once again, further expansion of imports demonstrates the responsibility and responsibility of our great powers. In recent years, with the continuous improvement of economic strength, China has gradually become a stabilizer and power source for the world economy. According to the World Bank data, the proportion of China’s economy in the world economy has increased to about 15.3% in 2017, against the global economy. The contribution rate of growth has reached 34%. In the context of tremendous progress in economic development, China remains committed to contributing China's strength and China's programs to global development, such as the “One Belt, One Road” initiative to achieve common development with economic partnerships along the route. To further expand imports, while sharing the development opportunities of the world with the world and driving economic growth in other countries and regions, it also demonstrates our responsibility and responsibility.

  China's development cannot be separated from the world, and the development of the world also needs China. Further expansion of imports is an inherent requirement for deepening reform and opening up. It not only has a positive impact on China's development, but also plays an important role in promoting world economic development.

  Original address: http://news.10jqka.com.cn/20180716/c605689202.shtml

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09/07/2018 09:17