国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Business / Opinion

Caution tempers trade optimism

By Xu Hongcai (China Daily) Updated: 2014-02-22 07:26

Compared with the still sluggish domestic and international markets, China's performance on the foreign trade front in January was quite an achievement, more so because domestic manufacturing, power generation, crude steel output and related industrial sectors showed a decline in growth vis-a-vis last year.

More importantly, the pressure created by the appreciating yuan is still high internationally and the global economy still faces uncertainties. In particular, the tapering off of the US quantitative easing policy will cause capital to flee back to the US and result in currency devaluation in some emerging economies.

Caution tempers trade optimism

Caution tempers trade optimism
That, in turn, will influence China's trade with other emerging economies. For example, China's exports to other BRCIS countries accounted for 4.5 percent of the total in 2006 but increased to 6.9 percent in 2013, while for ASEAN, it rose from 7.4 percent to 11.1 percent. But the impact of the tapering off of QE on emerging economies will make such a growth uncertain.

The Ministry of Commerce has vowed to continue its policies to maintain "a stable increase" in foreign trade this year, and readjust the import-export structure and grant export rebates to some industries.

The government is likely to expand the scope of importing advanced technologies and critical equipment, as well as fuel and raw materials. But, at the same time, it should ensure that traditional service exports - transportation and tourism, for instance - and newly developed service exports in insurance, telecommunications, and research and development sectors continue to grow. It should also help develop new growth points such as cross-border e-commerce and other service sectors.

Since the deficit in China's service industry, mainly in transportation and tourism, is relatively large, the government should open more zones like the China (Shanghai) Pilot Free Trade Zone that offer favorable policies to attract large investments and facilitate the rapid growth of the service sector.

The 2013 Central Economic Work Conference listed "stabilizing foreign trade" as one of the major economic missions of the country and proposed building a modern "Maritime Silk Road" to strengthen ocean trade with neighboring countries. If successful, the modern "Maritime Silk Road" could be a new growth point in 2014.

Therefore, despite the challenges, this year should be better for China's foreign trade than 2013.

The author is a professor in finance and director of the Information Department of China Center for International Economic Exchanges.

Don't miss:

Caution tempers trade optimism

Caution tempers trade optimism

China's top 10 richest cities

Top 10 overseas travel destinations for Chinese riches

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
...
南平市| 灯塔市| 汝州市| 英山县| 洛阳市| 新乡县| 永嘉县| 黎城县| 青河县| 合川市| 招远市| 襄垣县| 于田县| 天等县| 文成县| 大厂| 徐闻县| 铜山县| 黄大仙区| 云浮市| 盐城市| 石泉县| 九江市| 石林| 中方县| 阜城县| 恩施市| 屯留县| 翁源县| 满城县| 湖南省| 永登县| 大丰市| 开平市| 高雄县| 诸暨市| 博白县| 英吉沙县| 郎溪县| 阆中市| 同仁县|