A glimpse of the Tianjin Port in North China’s Tianjin Municipality Photo: Courtesy of Tianjin Port

Gauging China’s imports, one should not only focus on the market scale, but also on China’s proactive commitment as a major country to always expanding imports, Lü Daliang, a spokesperson of the General Administration of Customs (GAC), said on Monday in Beijing, in response to a question saying that China’s imports remained weaker than exports although import data in the past three quarters has been gradually recovering. 

From January to September, China’s total goods imports and exports in yuan-denominated terms rose by 4 percent year-on-year to reach 33.61 trillion yuan ($4.71 trillion). The country’s total export ramped up by 7.1 percent year-on-year to hit 19.95 trillion yuan, while imports dropped by 0.2 percent to 13.66 trillion yuan, according to data released by GAC.

Lü said that, in the first three quarters, the decline in prices of some bulk commodities in the international market had a certain impact on the growth rate and performance of China’s imports. However, in terms of volume, China’s import quantity index increased by 0.6 percent year-on-year. From the monthly trend, as of September, imports have grown for four consecutive months. 

Driven by China’s domestic production and consumption trend, the import volume of crude oil and metal ores increased by 2.6 percent and 4.2 percent in the first three quarters, while the import value of food, tobacco, alcohol, and cultural and entertainment products rose by 10.2 percent and 9.4 percent, respectively. With the complete removal of market access restrictions for foreign investors in the manufacturing sector, imports by foreign-invested enterprises grew by 1.1 percent in the first three quarters, said Lü.

The GAC spokesperson noted that China’s door of opening-up has been kept widening, sharing the opportunities of Chinese modernization with an increasing number of its trade partners. In the first three quarters, China approved the import of 135 new types of agricultural and food products, involving 50 countries and regions. 

For the least developed countries that have diplomatic relations with China, a policy granting zero-tariff treatment for 100 percent of tariff lines was implemented, resulting in a 9.7 percent increase in imports from those countries. 

At the same time, China is actively promoting to negotiate and sign the agreement of China-Africa Economic Partnership for Shared Development to implement the zero-tariff treatment for 100 percent tariff lines for 53 African countries which have set up diplomatic ties with China, said Lü.

Next month, the 8th China International Import Expo will be held in Shanghai. The expo is not only a platform for showcasing new products but also a “golden gateway” for multinational companies to enter the Chinese market, the spokesperson said, adding that exhibits from around the world are being shipped one after another, with multiple cutting-edge tech products, such as companion robots, expected to make their debut at the expo. 

Chinese customs will further optimize clearance facilitation measures, enhance technology-driven solutions, and innovate its regulatory models to help a growing number of global companies to share in China's vast market, Lü said.

Global Times