Shou Xiaoli:

Thanks, Mr. Wang, for your introduction. Now, we will open the floor for questions. Please state the name of your media organization before asking questions.

CCTV:

China's foreign trade achieved positive growth in 2023, surpassing expectations. What are the main reasons behind this? How did foreign trade contribute to the overall economy? Also, how do you evaluate China's foreign trade performance in the global context? What are your projections for China's foreign trade in 2024? Thank you.

Wang Lingjun:

Thank you. This is also the topic I would like to share with you. 

In 2023, under the strong leadership of the CPC Central Committee with Comrade Xi Jinping at its core, China's economy overcame challenges and progressed steadily. Production and supply improved, market demand continued to rise, and the economy maintained a positive trend of recovery. As for foreign trade, imports and exports kept growing, providing a solid support for the economy. China is expected to remain the world's largest trader of goods for the seventh consecutive year. The following are some of the factors behind the stable growth of foreign trade:

First, policies to stabilize foreign trade continued to deliver in 2023. Local governments and departments across China carried out the work arrangements of the CPC Central Committee and the State Council on stabilizing and improving the quality of foreign trade. They took some solid measures to stabilize the scale and optimize the structure of foreign trade, expand the private economy, and accelerate the integrated development of domestic and foreign trade. Customs also introduced a number of targeted and specific support measures to optimize the business environment, advance the integrated development of the Beijing-Tianjin-Hebei region, and promote the sustained and high-quality development of processing trade. Various policies were implemented effectively, delivering benefits, stabilizing foreign trade, and stimulating new drivers.

Second, China boasts a vast market and competitive advantages in production capacity. Our country has the largest middle income group and the most promising market in the world. In 2023, China imported over 5 trillion yuan in bulk commodities, nearly 3 trillion yuan in electronic components, and almost 2 trillion yuan in consumer goods, providing a broad market space and cooperation opportunities for companies across the world. China's manufacturing industry ranks first in the world in terms of size. In 2023, China exported 23.51 trillion yuan in products from the manufacturing sector. As I mentioned before, China's total exports amounted to 23.77 trillion yuan, and products from the manufacturing sector reached 23.51 trillion yuan. From portable chargers to NEVs, China is able to meet the needs of different markets. The "China-Chic" boom has also helped more products go global, winning hearts of many consumers around the world.

Third, we should give appreciation to the genuine efforts made by entities engaged in foreign trade. In 2023, the number of foreign trade entities with export and import records reached 645,000, hitting a new record high. In response to the changes in international demands, foreign trade entities have risen to the challenge, forged ahead, actively expanded the market, attracted orders, and constantly opened up new space for development.

Regarding prospects of this year's foreign trade, I made a brief introduction just now. Hereby, I would like to elaborate more.

It's obvious that external demand remains subdued. Many international institutions have predicted that this year the global economic and trade growth will be below pre-pandemic levels. The rise of protectionism, escalating geopolitical conflicts, and many other uncertainties, such as the recent block of shipping lanes in the Red Sea, will hinder the development of trade.

However, we have to note that the Chinese economy has enormous resilience, great potential, and strong vitality. With strength in mobilizing resources for large tasks, China has a super-large market and strong production capacity that have been accumulated for a long time, as well as a number of pioneering and enterprising foreign trade entities. Therefore, China's comprehensive competitive advantages in foreign trade remain prominent, with new drivers of foreign trade gathering at a faster speed. Generally speaking, the favorable conditions for the development of foreign trade outweigh the unfavorable factors. According to a recent survey, more than three-quarters of China's key import and export enterprises expected their imports and exports to remain stable or achieve growth this year. We have the confidence, the conditions, and the ability to promote the development of foreign trade this year. Thank you.