Use "Created by China" to Stabilize Foreign Trade and Stabilize Foreign Investment by Expanding Opening Up
The meeting of the Political Bureau of the CPC Central Committee held a few days ago proposed that "we should do a good job in stabilizing employment, finance, foreign trade, foreign investment, investment, and expectations." The industry believes that these six "stability" words just reflect the focus of future macro policies is to seek stability.
In the first half of this year, China's foreign trade development momentum was good, imports and exports achieved rapid growth, and the quality and efficiency of foreign trade development were significantly improved, laying a solid foundation for the next step to continue to maintain "stability".
Statistics show that in the first six months of this year, the total import and export value of China's trade in goods was 14.12 trillion yuan, an increase of 7.9% over the same period last year. Among them, exports were 7.51 trillion yuan, an increase of 4.9%; imports were 6.61 trillion yuan, an increase of 11.5%; The trade surplus was 901.32 billion yuan, narrowing by 26.7%.
Talking about how to stabilize foreign trade, Xu Yang, an independent economist who has been engaged in macro research for a long time, said in an interview with the "Securities Daily" reporter that to stabilize foreign trade, it is necessary to let foreign trade achieve quality "progress" in order to ensure long-term "stability".
In this regard, Xu Yang further explained: the cost and other traditional advantages of China's foreign trade enterprises have weakened, in order to win orders in the fierce international competition, we must closely follow the new needs of the international market, develop core technologies, strengthen independent brands, improve product quality, create new "selling points" of foreign trade competition, and let "Made in China" upgrade to "Created in China", "Chinese Brand" and "Chinese Service".
Another stability among the "six stability" is "stabilizing foreign investment". The industry believes that this shows that China's reform and opening up policy has not changed, and the policy of attracting foreign investment has not changed. At the same time, it also shows that China's economy has been fully integrated into the world, you have me, I have you.
According to Hao Hongmei, deputy director of the Foreign Investment Research Institute of the Research Institute of the Ministry of Commerce, the connotation of stabilizing foreign investment includes two aspects: stabilizing the scale of foreign investment and improving the quality of foreign investment. She revealed that the top-level design of stabilizing foreign investment has been completed, and it is more important to promote the implementation of these measures in the second half of the year; At the same time, supporting measures such as relevant laws and regulations and the adjustment of government power behavior need to keep up with in a timely manner.
For stabilizing foreign investment, Xu Yang's suggestion is that China should remain the largest absorber of foreign capital in developing countries by continuously expanding opening up and improving the investment environment.
In the view of Yang Weiwei, vice president of Founder Securities Research Institute and chief analyst of fixed income, since there is a goal of stabilizing foreign investment, it is destined that the speed of RMB depreciation will not be too fast.
"Once the renminbi depreciates too quickly, it may raise the risk reserve ratio as it did last Friday, or even add countercyclical factors to stabilize the trend of the renminbi exchange rate." Yang Weixi told the "Securities Daily" reporter.
On August 3, People's Bank of China issued an announcement that in order to prevent macro-financial risks, promote the steady operation of financial institutions, and strengthen macro-prudential management, it was decided to adjust the foreign exchange risk reserve ratio of forward foreign exchange sales business from 0 to 20% from August 6, 2018.
Ma Yu, director of the Foreign Investment Research Institute of the Research Institute of the Ministry of Commerce, believes that it is necessary to provide equal competition opportunities for foreign enterprises and eliminate some possible improper interference.