According to news from the Ministry of Commerce website on the 8th, the person in charge of the Foreign Trade Department of the Ministry of Commerce talked about the operation of China's foreign trade from January to November 2020. Since the beginning of this year, facing the severe challenges of the new crown pneumonia epidemic to China's foreign trade development, under the strong leadership of the Party Central Committee , The Ministry of Commerce promptly promoted the introduction of a series of foreign trade stabilization policies and measures, and implemented precise measures to help companies relieve their difficulties in terms of ensuring foreign trade entities, ensuring market share, ensuring export orders, and ensuring the stability of the industrial chain and supply chain. The government, industries, and enterprises have formed a strong synergy, and imports and exports have quickly stabilized and continued to improve, demonstrating China's strong foreign trade resilience and comprehensive competitiveness.
First, the scale of China's imports and exports hit a record high over the same period in history.
From January to November, the total import and export volume was 29.04 trillion yuan, an increase of 1.8%. In U.S. dollars, imports and exports amounted to 4.17 trillion U.S. dollars, an increase of 0.6%. With the further expansion of our foreign trade scale, the international market share has further increased.
Second, under the difficulties and pressures, China's foreign trade industry's innovation capabilities have continued to increase.
The export of general trade in the eastern region continued to expand, and the capacity for independent development was further enhanced. The export-oriented economy in the central and western regions has accelerated development, the export growth rate is higher than the overall rate, and the industrial competitiveness has improved significantly.
Chinese foreign trade companies have risen to the challenge and thrived under market pressure, and the scale of foreign trade entities has continued to grow. The export of private enterprises increased by 12.2%, which increased the overall growth rate by 6.2 percentage points.
China's exports continue to climb up the value chain. The proportion of exports of mechanical and electrical products increased to 59.3%. The export of high-tech and high value-added products such as integrated circuits, computers, and medical equipment was strong, with growth rates of 14.8%, 10.7% and 44.5% respectively.
New forms and models of foreign trade have developed rapidly, and the business environment has continued to be optimized. The rapid growth of cross-border e-commerce and market procurement trade methods have played an important role in efficiently connecting domestic and international markets and stimulating the vitality of small, medium and micro foreign trade entities.
Third, China's foreign trade has made important contributions to the recovery of world economy and trade.
We have taken practical actions to deepen international cooperation in epidemic prevention and control, and do our best to export epidemic prevention materials to more than 200 countries and regions, and promote the construction of a human health community. China's production order is quickly restored to meet the home living and work needs of people of all countries during the epidemic, and to promote the stable operation of the international industrial chain and supply chain. Actively expand imports, China's imports accounted for 0.8% of the global share, injecting vitality into world economic and trade cooperation.
The Ministry of Commerce pointed out that the international market demand has shown positive signs of picking up recently. The World Trade Organization, OECD and other international institutions have all raised their forecasts for global trade and economic growth, but there is still a process from rebound to recovery. The new crown pneumonia epidemic is still spreading globally, international demand is still restricted, and foreign trade development is facing many uncertain and unstable factors. We will closely focus on building a new development pattern, promote innovative development of foreign trade, firmly support the multilateral trading system, oppose trade protectionism, and become more actively integrated into the global economic cycle. We look forward to working with all trading partners to maintain a good international trading environment, ensure the smooth flow of international goods, maintain the stability of the industrial chain and supply chain, and jointly promote the early recovery of world trade and economic prosperity.
