Balanced development of import and export: strengthening the "muscles and bones" of a strong trading nation through "dual wheels"

Beijing, November 23 (Xinhua) -- The "15th Five Year Plan" proposes to "promote balanced development of imports and exports" when deploying the expansion of high-level opening-up. This is not only a targeted response to the sustained and rapid growth of China's trade surplus, but also a positive signal to promote the improvement of foreign trade quality and efficiency, and strengthen the construction of a strong trading nation.

Foreign trade has always been one of the "three carriages" driving economic growth, with exports and imports acting as the two wheels of the carriage. What is the significance of emphasizing the "dual wheel" approach?

In 2024, the total import and export volume of goods trade in China will exceed 43 trillion yuan. Among them, the export scale reached 25.45 trillion yuan, maintaining growth for 8 consecutive years, and imports reached 18.39 trillion yuan. The trade surplus of over 7 trillion yuan has attracted widespread attention.

What is a trade surplus? In short, it means that the export value exceeds the import value.

The relevant person in charge of the General Administration of Customs stated that China does not pursue a trade surplus, and the specific export and import scale and trade balance are the result of comprehensive factors such as international supply and demand, industrial division of labor, and market competition.

The issue of trade imbalance is a global challenge. It is not only objectively influenced by economic laws, but also closely related to comparative advantages and macroeconomic factors of various countries, "said Chen Hongna, deputy researcher at the Foreign Economic Research Department of the Development Research Center of the State Council.

Chen Hongna stated that based on China's own development needs, emphasizing "balanced development of imports and exports" is aimed at using imports to drive domestic consumption upgrading and industrial transformation, and sharing development opportunities with trading partners to alleviate trade imbalances and enhance initiative in response.

How to promote the balanced development of imports and exports during the 15th Five Year Plan period?

In the eyes of industry insiders, we should adhere to the combination of stabilizing exports and expanding imports in promoting the high-level opening-up process.

We should try our best to turn our product advantages into a solid foundation for enterprises to enhance brand value and bargaining power, and transform the trade surplus into a strong driving force for national development and improving national welfare, "said Chen Hongna.

Promote market diversification and integration of domestic and foreign trade, expand intermediate goods trade and green trade, vigorously develop service trade, improve the negative list management system of cross-border service trade, and orderly expand the opening up of the digital field

The series of targeted measures in the planning proposal not only stabilize exports by enhancing shock resistance and rule adaptation capabilities, but also strengthen the expansion of imports of key high-quality goods and services, providing guarantee support for achieving "stable exports, expanded imports, and optimal structure".

With the comprehensive expansion of domestic demand and the orderly expansion of independent and unilateral opening up, the pace towards becoming a trading powerhouse will become more solid and powerful.