Sharing China's Opportunities To Promote Recovery And Growth

- Jan 16, 2021-

       Since January 1 this year, China has imposed temporary import tariff rates on 883 items that are lower than the most-favored-nation tariff rate. At the same time, in accordance with free trade agreements or preferential trade arrangements signed and effective with relevant countries or regions, this year China will implement treaty tax rates on some imported goods originating in relevant countries or regions; starting from July 1, China will Implement the sixth step of tax reduction on the most-favored-nation tax rate of 176 information technology products.


   Looking back on the past year, China has actively participated in regional economic and trade cooperation, negotiated and signed a number of trade facilitation agreements, and actively explored a new situation of win-win cooperation in the face of economic globalization. Many foreign media and international figures believe that China will unswervingly expand its opening up, promote the construction of an open world economy, and bring more development opportunities to all countries.


   "China continues to expand opening up and shares development opportunities with all parties"


   For many years, China has been Mongolia’s largest trading partner. The “green channel” for resuming work and production opened in the second half of last year has gradually restored bilateral trade to close to pre-epidemic levels. Mongolian Ambassador to China Badrle stated that mineral trade accounts for more than 90% of the total bilateral trade between Mongolia and China. Mongolia has joined the Asia-Pacific Trade Agreement and will implement tariff reduction arrangements with China and other relevant members from January 1 this year. This will expand and deepen the trade and economic relations between Mongolia and China, and effectively promote Mongolia’s foreign trade. Diversification.


   Mongolian cashmere products have been increasingly favored by Chinese consumers in recent years. Mongolia's largest cashmere brand not only has counters in Shanghai, but also sells well on e-commerce platforms. Badrle is very optimistic about the prospects of Mongolia-China trade. "In addition to agricultural product trade, Mongolia and China have broad room for cooperation in the fields of e-commerce, service trade, tourism and renewable energy."


   The "Free Trade Agreement between the Government of the People's Republic of China and the Government of the Republic of Mauritius" came into effect on January 1 this year. This is the first free trade agreement signed between China and an African country. Mauritius' frozen fish, textiles, sugar tea, etc. will enter the Chinese market more smoothly. The Chairman of the Mauritius Sugar Association, Deviche Duchila, lamented, “This will greatly promote the sustainable development of the Mauritius sugar industry.” Lin Haiyan, Chairman of the Mauritius Chinatown Foundation, has new expectations for the local economic development: “This has strengthened The confidence of the Mauritian business community in opening up the Chinese market is also conducive to the recovery of the Mauritius economy." Mauritius "Challenge" commented that this is an "important step towards expanding a diversified market" in Mauritius.


   In the past year, a free trade agreement was signed with Cambodia, the China-EU Geographical Indications Agreement and the Regional Comprehensive Economic Partnership Agreement were signed, the China-EU Investment Agreement negotiations were completed, and China's pace of opening up to the outside world was more solid.


   China is currently the EU's second largest export destination country for agricultural products and the third largest source country for agricultural imports. The EU's agricultural exports to China reached 15.3 billion euros in 2019. After the "China-EU Geographical Indications Agreement" takes effect, the agricultural trade between the two sides will usher in greater benefits, and special agricultural products from European countries will enter the Chinese market more smoothly.


Nikolaos Paziuras, chairman of the Greek West Safflower Association, said: "The entry into force of the "China-Europe Agreement on Geographical Indications" will further enhance the visibility of European famous products, help open up the Chinese market, and bring more to Chinese consumers. European products. China continues to open up and share development opportunities with all parties."


  "Release a positive signal to the world for further opening up"


"China has sent a positive signal of further opening up to the world, and South Africa is looking forward to it." South Africa’s National Planning Commission member Miriam Altman said that China is South Africa’s largest trading partner, and South Africa is China’s Africa's largest trading partner. The two countries have maintained close cooperation in the fields of infrastructure, mining equipment, automobile manufacturing, and electronic products. China's reduction of tariffs will provide South Africa with more opportunities.


   The South African "Star" published an article that China's further reduction of tariffs and institutional costs is an important measure for China to accelerate the construction of a new development pattern. "For China, this tariff adjustment is conducive to better attracting global resource elements, meeting domestic demand, and improving the level of industrial technology development; for the world, it will gain broader market opportunities and international cooperation space, which will help Build an open world economy."


   British Reuters mentioned in a report that in the process of China's construction of a new development pattern, lowering tariffs can promote more foreign products to enter the Chinese market and help China's technological innovation and economic upgrading. The report also noted that, in order to meet China’s domestic needs and improve people’s lives, China has implemented zero tariffs on the second batch of anti-cancer drugs, raw materials for rare disease drugs, and food for special patients, and reduced medical equipment such as artificial heart valves and hearing aids. Import tariffs on raw materials such as whey protein powder and lactoferrin. In addition, China attaches great importance to energy conservation and emission reduction, reducing import tariffs on industrial products such as diesel engine exhaust filtration and purification devices to help achieve emission reduction targets and promote new infrastructure and high-tech development.


In the opinion of Frederick Bardan, CEO of Belgian Sybex China Europe Business Consulting Company, China’s reduction of import tariffs on hundreds of commodities once again demonstrates China’s determination to persist in opening up and build an open world economy. To provide more opportunities for all parties and support more overseas employment opportunities, "China's role in the global industrial chain supply chain is more prominent, and its leading role in the world economy is stronger."


   "China has become an important driving force leading the global economic recovery"


   China’s Ministry of Commerce data shows that China’s foreign trade circle of friends has expanded to more than 230 countries and regions, and continues to maintain its status as the world’s second largest importer. In 2020, both the scale of trade and the international market share reached a record high.


   The recovery of the Chinese market has provided key support for many foreign companies. China is the largest single market for Volkswagen Group in Germany. Volkswagen Group's automobile production in China resumed growth in the second quarter of last year, and the delivery of new vehicles in China in the third quarter increased by 3% year-on-year.


   In May last year, Willa Songwe, Executive Secretary of the United Nations Economic Commission for Africa, and James Kimonio, Rwanda’s ambassador to China, met to "bring goods" for Rwandan coffee in a live broadcast room watched by more than 10 million people. 3000 kilograms of Rwandan coffee beans were robbed, equivalent to the previous year's sales. In addition to Rwanda coffee, Zambia's honey, Madagascar's cashew nuts and other African native products have also entered the homes of more Chinese people through platforms such as the China International Import Expo.


Altman believes that, against the backdrop of economic globalization, China has opened up to the outside world at a high level, opened its arms to all countries, and injected positive energy into the world economy. "There is every reason to believe that an open China will be an African country. , Bring more opportunities to the whole world".


   Faced with the challenge of the epidemic, China's industrial supply chain has shown resilience, and trade cooperation with China has become a bright spot in the foreign trade of many countries. "China persists in opening up to the outside world, deeply integrated with the world economy, and is gradually becoming the main engine of global economic growth and innovation." Former Belgian Prime Minister Yves Letem said. British Reuters commented: "China's foreign trade is thriving among major economies, and China has become an important driving fSince January 1 this year, China has imposed temporary import tariff rates on 883 items that are lower than the most-favored-nation tariff rate. At the same time, in accordance with free trade agreements or preferential trade arrangements signed and effective with relevant countries or regions, this year China will implement treaty tax rates on some imported goods originating in relevant countries or regions; starting from July 1, China will Implement the sixth step of tax reduction on the most-favored-nation tax rate of 176 information technology products.


   Looking back on the past year, China has actively participated in regional economic and trade cooperation, negotiated and signed a number of trade facilitation agreements, and actively explored a new situation of win-win cooperation in the face of economic globalization. Many foreign media and international figures believe that China will unswervingly expand its opening up, promote the construction of an open world economy, and bring more development opportunities to all countries.


   "China continues to expand opening up and shares development opportunities with all parties"


   For many years, China has been Mongolia’s largest trading partner. The “green channel” for resuming work and production opened in the second half of last year has gradually restored bilateral trade to close to pre-epidemic levels. Mongolian Ambassador to China Badrle stated that mineral trade accounts for more than 90% of the total bilateral trade between Mongolia and China. Mongolia has joined the Asia-Pacific Trade Agreement and will implement tariff reduction arrangements with China and other relevant members from January 1 this year. This will expand and deepen the trade and economic relations between Mongolia and China, and effectively promote Mongolia’s foreign trade. Diversification.


   Mongolian cashmere products have been increasingly favored by Chinese consumers in recent years. Mongolia's largest cashmere brand not only has counters in Shanghai, but also sells well on e-commerce platforms. Badrle is very optimistic about the prospects of Mongolia-China trade. "In addition to agricultural product trade, Mongolia and China have broad room for cooperation in the fields of e-commerce, service trade, tourism and renewable energy."


   The "Free Trade Agreement between the Government of the People's Republic of China and the Government of the Republic of Mauritius" came into effect on January 1 this year. This is the first free trade agreement signed between China and an African country. Mauritius' frozen fish, textiles, sugar tea, etc. will enter the Chinese market more smoothly. The Chairman of the Mauritius Sugar Association, Deviche Duchila, lamented, “This will greatly promote the sustainable development of the Mauritius sugar industry.” Lin Haiyan, Chairman of the Mauritius Chinatown Foundation, has new expectations for the local economic development: “This has strengthened The confidence of the Mauritian business community in opening up the Chinese market is also conducive to the recovery of the Mauritius economy." Mauritius "Challenge" commented that this is an "important step towards expanding a diversified market" in Mauritius.


   In the past year, a free trade agreement was signed with Cambodia, the China-EU Geographical Indications Agreement and the Regional Comprehensive Economic Partnership Agreement were signed, the China-EU Investment Agreement negotiations were completed, and China's pace of opening up to the outside world was more solid.


   China is currently the EU's second largest export destination country for agricultural products and the third largest source country for agricultural imports. The EU's agricultural exports to China reached 15.3 billion euros in 2019. After the "China-EU Geographical Indications Agreement" takes effect, the agricultural trade between the two sides will usher in greater benefits, and special agricultural products from European countries will enter the Chinese market more smoothly.


Nikolaos Paziuras, chairman of the Greek West Safflower Association, said: "The entry into force of the "China-Europe Agreement on Geographical Indications" will further enhance the visibility of European famous products, help open up the Chinese market, and bring more to Chinese consumers. European products. China continues to open up and share development opportunities with all parties."


  "Release a positive signal to the world for further opening up"


"China has sent a positive signal of further opening up to the world, and South Africa is looking forward to it." South Africa’s National Planning Commission member Miriam Altman said that China is South Africa’s largest trading partner, and South Africa is China’s Africa's largest trading partner. The two countries have maintained close cooperation in the fields of infrastructure, mining equipment, automobile manufacturing, and electronic products. China's reduction of tariffs will provide South Africa with more opportunities.


   The South African "Star" published an article that China's further reduction of tariffs and institutional costs is an important measure for China to accelerate the construction of a new development pattern. "For China, this tariff adjustment is conducive to better attracting global resource elements, meeting domestic demand, and improving the level of industrial technology development; for the world, it will gain broader market opportunities and international cooperation space, which will help Build an open world economy."


   British Reuters mentioned in a report that in the process of China's construction of a new development pattern, lowering tariffs can promote more foreign products to enter the Chinese market and help China's technological innovation and economic upgrading. The report also noted that, in order to meet China’s domestic needs and improve people’s lives, China has implemented zero tariffs on the second batch of anti-cancer drugs, raw materials for rare disease drugs, and food for special patients, and reduced medical equipment such as artificial heart valves and hearing aids. Import tariffs on raw materials such as whey protein powder and lactoferrin. In addition, China attaches great importance to energy conservation and emission reduction, reducing import tariffs on industrial products such as diesel engine exhaust filtration and purification devices to help achieve emission reduction targets and promote new infrastructure and high-tech development.


In the opinion of Frederick Bardan, CEO of Belgian Sybex China Europe Business Consulting Company, China’s reduction of import tariffs on hundreds of commodities once again demonstrates China’s determination to persist in opening up and build an open world economy. To provide more opportunities for all parties and support more overseas employment opportunities, "China's role in the global industrial chain supply chain is more prominent, and its leading role in the world economy is stronger."


   "China has become an important driving force leading the global economic recovery"


   China’s Ministry of Commerce data shows that China’s foreign trade circle of friends has expanded to more than 230 countries and regions, and continues to maintain its status as the world’s second largest importer. In 2020, both the scale of trade and the international market share reached a record high.


   The recovery of the Chinese market has provided key support for many foreign companies. China is the largest single market for Volkswagen Group in Germany. Volkswagen Group's automobile production in China resumed growth in the second quarter of last year, and the delivery of new vehicles in China in the third quarter increased by 3% year-on-year.


   In May last year, Willa Songwe, Executive Secretary of the United Nations Economic Commission for Africa, and James Kimonio, Rwanda’s ambassador to China, met to "bring goods" for Rwandan coffee in a live broadcast room watched by more than 10 million people. 3000 kilograms of Rwandan coffee beans were robbed, equivalent to the previous year's sales. In addition to Rwanda coffee, Zambia's honey, Madagascar's cashew nuts and other African native products have also entered the homes of more Chinese people through platforms such as the China International Import Expo.


Altman believes that, against the backdrop of economic globalization, China has opened up to the outside world at a high level, opened its arms to all countries, and injected positive energy into the world economy. "There is every reason to believe that an open China will be an African country. , Bring more opportunities to the whole world".


   Faced with the challenge of the epidemic, China's industrial supply chain has shown resilience, and trade cooperation with China has become a bright spot in the foreign trade of many countries. "China persists in opening up to the outside world, deeply integrated with the world economy, and is gradually becoming the main engine of global economic growth and innovation." Former Belgian Prime Minister Yves Letem said. British Reuters commented: "China's foreign trade is thriving among major economies, and China has become an important driving force leading the global economic recovery."orce leading the global economic recovery."