Abstract Introduction: In 2017, the business work did not determine the specific quantitative indicators. One of the key points of the ministerial work report is to understand and grasp the "new normal" and to get rid of the speed complex. On December 26, the National Business Work Conference was held in Beijing. ...
Introduction: In 2017, the business work did not determine the specific quantitative indicators. One of the key points of the ministerial work report is to understand and grasp the "new normal" and to get rid of the speed complex. On December 26, the National Business Work Conference was held in Beijing.
Gao Hucheng, Minister of Commerce, made a work report, proposing that the business work in 2017 should implement the spirit of the Central Economic Work Conference, adhere to the general tone of the work of striving for stability, highlight the main line of supply-side structural reform, and highlight the construction of the “Belt and Roadâ€. I will lead the way and highlight the key areas of reform.
The 21st Century Business Herald reporter learned from the post-conference press conference that the 2017 business work has not identified specific quantitative indicators. One of the key points of the ministerial work report is to understand and grasp the "new normal" and to get rid of the speed complex.
The relevant person in charge of the Ministry of Commerce said that although trade protectionism is on the rise and the uncertainties in the world economy are increasing, the trade situation in the coming year will generally continue to stabilize this year. In 2016, China's trade friction cases increased. As there is no obvious sign of world economic recovery, the pressure on trade friction in 2017 may further increase, especially in the areas of overcapacity such as steel. In order to complete the RCEP negotiations next year, China will continue to optimize the domestic investment environment, attract foreign investment to China, and encourage foreign investment to invest in advanced manufacturing, high-tech, energy-saving and environmental protection and modern services.
Why do you want to get rid of the speed complex?
The latest data shows that the total import and export volume of the country in the first 11 months reached 21.83 trillion yuan, down 1.2% year-on-year, and the decline narrowed by 6.6 percentage points. Among them, the scale of exports was 12.47 trillion yuan, down 1.8%; imports were 9.36 trillion yuan, down 0.3%.
Gao Hucheng said that this year's import and export has stabilized. Stabilization showed a narrowing of the decline. In the first 11 months, imports and exports fell by 1.2%, and the decline narrowed by 6.6 percentage points. At the same time, the trend stabilized quarter by quarter; For the first 11 months, the export of large-scale complete sets of equipment increased by more than 5%; the proportion of exports of private enterprises increased by 1.4 percentage points; the total import and export of services increased by 16% year-on-year, and the proportion of total foreign trade increased by 2.3 percentage points.
It is worth noting that the business work meeting did not determine the quantitative indicators such as the growth rate of foreign trade in 2017.
The 21st Century Business Herald reporter learned from the post-meeting press conference that under the background of the world economy and the Chinese economy facing uncertain factors, how to recognize, grasp and lead the business field in the big logic of China's economic development entering a new normal The “new normal†has become one of the priorities of the minister’s work report.
According to Li Gang, deputy dean of the International Trade and Economic Cooperation Research Institute of the Ministry of Commerce, the “new normal†in the business field specifically includes three aspects:
One is to get rid of the speed complex. The rapid growth of China's economy as a whole is one of the characteristics of the new normal. However, the specific performance patterns in the business sector have their own characteristics. The domestic market circulation and consumption have strong self-controllability, and the medium and high speed should be guaranteed; but in the open type In the economic field, the external influence of the world economy cannot be controlled by us. Therefore, it is impossible to be objectively treated.
The second is to see the arduousness of the adjustment structure. The second characteristic of the new normal is to move towards the middle and high end. In the open economy, we must adhere to the innovation drive, and promote the export industry to the middle and high end through the R&D design, brand, service and value chain, industrial chain and supply chain.
The third is to see the rigidity or irreversibility of rising wage income. The third characteristic of the new normal is that China has entered the ranks of middle- and high-income countries. On the one hand, we have to face the big test of “middle income trapâ€. On the other hand, the high-end consumer demand is growing rapidly, and the supply side is far from satisfying. Therefore, it is imperative to resolve the contradiction between supply and demand and accelerate supply-side structural reform.
For the foreign trade situation in the coming year, Lu Xun, deputy director of the Foreign Trade Department of the Ministry of Commerce, pointed out that uncertainties and instability factors are expected to increase in 2017. In particular, the trade policy after Trump took office may have an impact on China's trade. However, with the release of China's foreign trade policy effects, especially the fundamentals of China's economic development, there is no change in foreign trade next year.
Trade friction in 2017 may be more
The Minister of Commerce’s work report pointed out that 2017 will highlight the main line of supply-side structural reform.
At the press conference, Lu Luxun pointed out that the adjustment structure is a continuous driving force for steady growth, and structural adjustment is not enough. Stable growth is a temporary achievement. Through the structural reform of the supply side, foster new kinetic energy of foreign trade, implement innovation drive, and cultivate technology, standards, quality, brand, service, etc., so that these become new advantages of China's foreign trade.
Wang Hejun, director of the Trade Relief and Investigation Bureau of the Ministry of Commerce, bluntly stated at the press conference that the situation of trade friction in China is more serious in 2017.
According to the statistics of the World Trade Organization, the monthly average number of trade remedy investigations initiated by WTO members in 2016 reached the highest point since 2009. China has become the country with the most anti-dumping investigations for 21 consecutive years, and has become the country with the most countervailing investigations for 10 consecutive years. A third of the world's recent surveys are targeted at China.
As of December 21, in 2016, a total of 27 countries (regions) initiated 117 trade remedy investigations against China, with an average of $13.98 billion in cases per 3 days. The number of cases and the amount involved increased by 34.5% and 71.5. %.
Wang Hejun introduced that in 2016, trade friction cases were high, and steel, photovoltaic, ceramic tile and other industries were concentrated. In 2016, the international trade rules environment has deteriorated. Some cases have been politicized. In some cases, the tax rate has increased by as much as 500%, and the tax rate has increased by more than 100%. In addition, due to the rapid growth of China's high-tech product exports, the friction between high-end products and developed countries has intensified.
Wang Hejun bluntly said that the situation in 2017 may be even more severe. There is no obvious sign of the recovery of the world economy. Countries do not have a good response. The factors that appeal to trade remedy investigations and barriers will increase. In addition, the tendency of self-consideration and trade protectionism in countries has increased, and a large number of trade protection speeches have been released.
The follow-up response policy, Wang Hejun said that the reason for China's trade friction cases is that China's large but not strong trade situation, China's exports to win with large quantities of low prices, the impact on some countries' trade is inevitable. To overcome the trade friction, we must fundamentally change the mode of economic growth, promote industrial upgrading and upgrading, and make China's export products irreplaceable. The Ministry of Commerce will also give enterprises more policy guidance and safeguard the legitimate rights and interests of enterprises in trade friction cases.
Create an "institutional highland" that utilizes foreign capital
In the first 11 months, China established 24,355 new foreign-invested enterprises, an increase of 3.0% year-on-year; the actual use of foreign investment was 731.8 billion yuan (US$113.79 billion), a year-on-year increase of 3.9%. Among them, the actual use of foreign investment in the service industry was 51.33 billion yuan, an increase of 8% year-on-year. Among them, the actual use of foreign investment in computer application services, distribution services, and enterprise management services increased by 123%, 44%, and 52.1%, respectively. The actual use of foreign capital in the high-tech service industry was 88.14 billion yuan, a year-on-year increase of 97.7%.
At the same time, China's foreign investment continued to maintain rapid growth, and the scale of foreign investment and China's foreign investment was roughly 1:1.4. In the first 11 months, non-financial foreign direct investment is expected to be 1.12 trillion yuan, a year-on-year increase of 55.3%.
One of the key points of business work in 2017 is to optimize the legal business environment and create a “system highland†that utilizes foreign capital.
Tang Wenhong, Director of the Foreign Investment Department of the Ministry of Commerce, said that in 2017, he will continue to adhere to the principle of actively and effectively utilizing foreign capital, focus on building a new foreign investment system, create a new opening pattern, create an excellent business environment, and strive to improve the quality and level of foreign investment so that China will always Become an attractive foreign investment hotspot.
Specifically, it will unify domestic and foreign-funded laws and regulations, accelerate the legislative process of the Foreign Investment Law, and maintain a stable, transparent, and predictable foreign investment policy; significantly relax access restrictions and encourage more foreign investment in advanced manufacturing, high-tech, energy conservation and environmental protection. In the field of modern service industry, we will promote the combination of attracting investment and attracting talents; further reduce the negative list of the free trade pilot zone, and increase the opening up in areas where foreign investors have strong willingness to invest and control risks; accelerate the revision of the advantage of foreign investment in the central and western regions. Industry Catalogue, and study on the implementation of differentiated and precise incentive policies for the old industrial bases in the central and western regions and the Northeast.
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