Ministry of Commerce: China's use of foreign investment in March increased 32.9% year-on-year

The Ministry of Commerce of the People's Republic of China held a press conference today to inform about the situation of China's business operations in January-March 2011. The actual use of foreign capital in January-March was 30.34 billion U.S. dollars, a year-on-year increase of 29.4%. Among them, actual foreign investment in March was US$ 12.52 billion, an increase of 32.9% year-on-year.

I. About the operation of the consumer market

According to statistics from the National Bureau of Statistics, total retail sales of social consumer goods from January to March were 4292.2 billion yuan, an increase of 16.3% year-on-year, of which total retail sales of social consumer goods increased by 17.4% year-on-year in March. Overall, the main characteristics of the consumer market in the first quarter are:

First, the overall sales of urban and rural areas have maintained rapid growth, and the growth rate of consumption has declined. From January to March, the total retail sales of social consumer goods increased by 16.3% year-on-year, 2.5 percentage points lower than the fourth quarter of last year and 1.6 points lower than the same period of last year. The real growth rate was 11.6%, 3.8 percentage points lower than the same period of last year.

The second is the stable sales of large distribution companies. From January to March, the cumulative sales of 3,000 key retailers monitored by the Ministry of Commerce increased by 18.4% year-on-year, an acceleration of 1 percentage point from the same period of last year. In the circulation industry, retail sales and wholesale sales increased by 18.4% and 12.0% year-on-year, respectively, and the growth rate was 1.0 and 1.7 percentage points higher than the same period of last year. According to statistics from the National Bureau of Statistics, the retail sales of enterprises above designated size (units) in January-March increased by 22.5% year-on-year, 6.2% higher than the national level.

Third, the sales of gold and silver jewellery continued to grow at a rapid rate, and the growth of goods such as automobiles and household appliances slowed down. According to the monitoring of the Ministry of Commerce, sales of gold, silver and jewelry increased by 43.5% year-on-year from January to March, and the growth rate was 18.7% higher than the same period of last year. The sales of food and clothing increased by 21.0% and 22.5% year-on-year, which was 6.7 and 4.6 percentage points higher than the same period of last year. Sales of furniture, automobiles, home appliances, and audio equipment increased by 8.0%, 10.8%, and 9.6% year-on-year, respectively, but the growth rate slowed by 2.8, 16.0, and 11.5% respectively over the same period of last year.

Fourth, the prices of major edible agricultural products fell slightly. From January to March, consumer prices rose by 5.0% year-on-year, an increase of 2.8 percentage points from the same period of last year. However, under the influence of a series of stable price measures and seasonal factors, the price of vegetables and eggs began to decline in mid-February, and pork and edible oil prices showed a downward trend in early April. According to the monitoring of the Ministry of Foreign Affairs, last week (April 11-17), the wholesale prices of 18 major vegetables in 36 large and medium-sized cities averaged 3.58 yuan/kg, a 9.8% decrease from the previous week, a 5.2 increase over the previous week. percentage point. Compared with the previous week, the prices of 18 major vegetables all declined, among which the prices of green peppers, canola, and pepper dropped by 22.8%, 19.4%, and 18.8%, respectively, and the prices of lettuce, eggplant, cucumber, beans, and celery also fell by more than 10%. As the temperature rises, the volume of vegetables on the market continues to increase, and prices are expected to accelerate decline.

The Ministry of Commerce will continue to strengthen the monitoring of market prices for vegetables and other necessities, monitor the market for important commodities in 36 large and medium-sized cities, conduct daily monitoring of the prices of 139 large-scale wholesale markets, make timely announcements to the public, and strengthen market regulation. Ensure adequate market supply.

Second, on foreign trade

According to customs statistics, from January to March, the total amount of import and export nationwide was US$80.03 billion, an increase of 29.5% year-on-year. Among them, exports accounted for 3996.4 billion U.S. dollars, an increase of 26.5%; imports accounted for 400.66 billion U.S. dollars, an increase of 32.6%, and the trade deficit was 1.02 billion U.S. dollars (a surplus of 13.92 billion U.S. dollars in the same period of last year).

(I) Import volume hit a record high, with a small quarterly deficit. With the slow recovery of the world economy and the recovery of international market demand, exports in the first quarter reached 399.64 billion U.S. dollars, an increase of 26.5 percent, of which prices increased by 11 percentage points; under the combined effect of increasing domestic demand and rising international commodity prices, Imports reached US$400.66 billion, a record high for the quarterly scale, an increase of 32.6%, of which price increases drove 16.5 percentage points. As the import growth rate was faster than the export growth rate, the trade deficit in the first quarter was 1.02 billion U.S. dollars, and the first quarterly deficit in the past six years.

(II) The share of exports to Europe and the United States declined, and trade with some emerging markets grew rapidly. In the first quarter, my exports to the European Union and the United States increased by 17.2% and 21.4% respectively, accounting for 19.2% and 16.5% of the total exports, which fell by 1.5 and 0.7% respectively. Exports to Japan increased by 28.1%, higher than the overall increase of 1.6 percentage points; imports from Japan increased by 26.4%, lower than the overall increase of 6.2 percentage points. Bilateral trade with some emerging markets such as South Africa and Brazil has experienced rapid growth. The trade volume has increased by 107.1% and 57.7% respectively.

(C) The increase in the import price of resource products has increased, and the growth in exports of light textile products is better than that of mechanical and electrical products. In the first quarter, the import volume of crude oil, iron ore, and refined oil increased by 11.9%, 14.4%, and 27.7%, respectively, and the prices increased by 24.3%, 59.5%, and 18.7%, respectively. These three kinds of commodities combined to drive imports to increase by 9.1 percentage points, among which prices The increase pulled 5.9 percentage points. Total exports of apparel, textiles, footwear, furniture, bags, and toys totaled 71.99 billion U.S. dollars, an increase of 23.8%. Exports of mechanical and electrical products were US$232.03 billion, an increase of 22.8%, which was lower than the overall increase of 3.7 percentage points, of which automatic data processing equipment, integrated circuits, color TVs, and motorcycle exports increased by 5.8%, 12.5%, 14%, and 16.6%, respectively. The overall increase in exports.

(4) The proportion of export of processing trade has decreased, and general trade has contributed a lot to the increase of imports. In the first quarter, processing trade exported 184.51 billion U.S. dollars, an increase of 21.6 percent, accounting for 46.2 percent of the total export volume, a year-on-year decrease of 1.8 percentage points, and imports of 10.74 billion U.S. dollars, an increase of 20.9 percent. Exports of general trade totaled US$ 185.97 billion, up by 31.7%, accounting for 0.3% of the total export volume; processing imports accounted for US$ 23.19 billion, an increase of 37.4%, which was higher than the overall increase of 4.8 percentage points, and contributed 64.1% to the import increase, driving imports. Increased by 20.9 percentage points. The general trade deficit increased significantly, at $45.99 billion, an increase of 66.5%.

Third, on the situation of foreign investment

According to the statistics of the Ministry of Commerce, from January to March, 5937 foreign-invested enterprises were newly approved in the country, an increase of 8.8% year-on-year; actual use of foreign capital was US$30.34 billion, an increase of 29.4% year-on-year. In March of the same month, 2538 foreign-invested companies were newly approved to establish in the country, an increase of 10.5% over the same period of last year. The actual use of foreign capital was US$ 12.52 billion, an increase of 32.9% year-on-year.

Foreign investment in different areas. In January-March, 150 new foreign-invested enterprises were established in agriculture, forestry, animal husbandry and fishery, which was a year-on-year decrease of 4.46%. The actual amount of foreign capital used was 428 million U.S. dollars, a year-on-year increase of 13.78%, accounting for 2.53% and 1.41% of the national total respectively; The number of newly established foreign-invested enterprises was 2,450, an increase of 12.13% over the same period of last year. The actual use of foreign capital was US$13.74 billion, up 23.6% year-on-year; the service sector was newly established with 2,972 foreign-invested companies, an increase of 6.98%, and the actual use of foreign capital was US$14.39 billion. The year-on-year increase was 36.4%.

The actual use of foreign investment in the service sector grew faster than that of the manufacturing industry by nearly 24 percentage points. The proportion of the actual use of foreign investment in the service industry in the national total during the same period rose to 47.4%, which was higher than the 45.3% of the manufacturing industry. The absorption of foreign capital by the service industry is mainly concentrated in the production and supply of distribution services, real estate, transportation services, computer application services and electricity gas water.

(b) The situation of the source of investment. From January to March, the top 10 countries/regions investing in China were Hong Kong (US$19.69 billion), Taiwan (US$1.92 billion), Japan (US$1.83 billion), Singapore (US$1.49 billion), and the United States (US$812 million). ), Britain ($693 million), South Korea ($509 million), Germany ($361 million), France ($228 million), and the Netherlands ($173 million). The actual amount of foreign capital invested by the top ten countries/regions accounts for 91.3% of the total amount of foreign capital actually used in the country.

(C) The distribution of foreign investment across the country. From January to March, the actual use of foreign capital in the eastern region was 25.96 billion U.S. dollars, an increase of 26.1% year-on-year, accounting for 85.5% of the country's total, of which Jiangsu, Guangdong, Liaoning, Shanghai, and Zhejiang were the five provinces and cities that absorbed the most foreign direct investment. The actual amount of foreign capital used in the central region was 2.05 billion U.S. dollars, a year-on-year increase of 28.6%, of which Hunan was the province with the most foreign investment in the central region, reaching 485 million U.S. dollars, accounting for 23.6% of the central region. The growth rate of absorbing foreign capital in the western region has been accelerating. The actual use of foreign capital in the western region was US$2.33 billion, an increase of 84.1% year-on-year, which was higher than that of the same period of last year. The proportion of the total actual use of foreign investment in the country increased to 7.7%, which was higher than the proportion of 6.8% in the central region. Sichuan is the province with the most foreign investment in the western region, reaching US$822 million, accounting for 35.3% of the western region.

As of March 2011, a total of 716,578 foreign-invested enterprises have been approved to be established in the country, and 597,369, 76,458 and 41,751 foreign-invested enterprises have been approved in the eastern, central and western regions respectively, accounting for 83.36% and 10.67%, respectively. And 5.97%; the cumulative amount of foreign investment in the country totaled 108.151 billion U.S. dollars, and the accumulated foreign investment in the eastern, central and western regions was 935.829 billion U.S. dollars, 87.428 billion U.S. dollars, and 58.821 billion U.S. dollars, respectively, accounting for 86.48% and 8.08%, respectively. 5.44%.

IV. About Foreign Investment and Economic Cooperation

Foreign Direct Investment. In the first quarter, Chinese domestic investors had made direct investments in 974 overseas companies in 98 countries and regions around the world, accumulatively achieving non-financial direct foreign investment of 8.51 billion U.S. dollars, an increase of 13.2% year-on-year. As of the end of March, China’s accumulated non-financial direct foreign investment was 267.3 billion U.S. dollars. In the first quarter, China’s outbound direct investment mainly flowed to Hong Kong, Australia, Cayman Islands, Luxembourg, Iran, the United States, Singapore, Myanmar, Brazil, Cambodia, Laos, and other countries and regions, and its direct investment in Australia, the European Union, and other places increased by 150. %about.

In the first quarter, Chinese domestic investors achieved direct foreign investment of US$1.2 billion through mergers and acquisitions, which accounted for 14.1% of the total investment in the same period. Major M&A projects were concentrated in the manufacturing sector. For example, China Sinochem Corporation acquired a 50% stake in Djibouti International, a subsidiary of Royal Dutch DSM Group, through overseas subsidiaries for US$334 million; Furida Group Holdings acquired Overseas New Zealand Specialty Cellulose Co., Ltd. through overseas subsidiaries. 90.88% stake; CITIC Group acquired Spain's Gandara Company and Spain's heavy equipment manufacturing company 100% equity for US$62.42 million.

Foreign contracted projects. In the first quarter, China’s foreign contracted engineering business completed a turnover of US$16.98 billion, up 2.9% year-on-year; new contracts amounted to US$30.95 billion, an increase of 16.7% year-on-year. Affected by the political turmoil in some countries in the Middle East and North Africa, my contracted engineering business in the region fell significantly. Among them, the value of new contracts signed by Algeria and Libya, the key foreign contractor projects in China, decreased by 70.8% and 46.9% year-on-year, respectively; turnover decreased by 32.6% and 11.8%. In the first quarter, my breakthrough in business in Europe and Latin America became a bright spot in the growth of foreign contracted engineering business. The value of new contracts signed in Europe was 1.73 billion U.S. dollars, an increase of 179.7% year-on-year; the number of new contracts signed in Latin America was 2.81 billion U.S. dollars, a year-on-year increase of 164.4%.

Foreign labor service cooperation. In the first quarter, foreign labor service cooperation dispatched 93,000 laborers, an increase of nearly 10,000 from the same period of last year, including 57,000 expatriates from contracted projects and 36,000 from labor cooperation. At the end of March, there were 769,000 laborers in various categories, a decrease of nearly 9,000 from the same period of last year. Among them, 173,000 were of various types of laborers in Africa, a decrease of 24,000 from the same period last year.

V. Development of China's Service Trade

(1) The scale of service trade expanded rapidly and the international rankings increased. During the “Eleventh Five-Year Plan” period, China’s total import and export volume of service trade was 362.42 billion U.S. dollars, of which exports were 170.25 billion U.S. dollars, imports were 192.17 billion U.S. dollars, and imports and exports grew at an average annual rate of 18.2%, more than twice the annual growth rate of the world average of 8.2%. While the total volume of service trade in China is growing, the international ranking continues to rise. In 2005, China’s service exports and imports accounted for the ninth and seventh places in the world respectively, and rose to the fourth and third place respectively in 2010. China has become an important country in global service trade.

(2) The structure of service trade has gradually become more balanced, and new service trade has developed rapidly. During the “Eleventh Five-Year Plan” period, China’s traditional service trade still accounted for a large proportion, but its share declined. In 2010, exports of tourism, transport, and construction services accounted for 55.5% of total service exports, a drop of nearly 10% from 2005. The proportion of new service trade in service trade has risen rapidly. Among them, the growth of high value-added service trade exports is strong. In 2010, exports of computer and information services, exclusive rights royalties and licensing fees, consulting and advertising services accounted for 21% of total service exports, up 10% from 2005.

(3) The export of services in key areas has achieved remarkable results, and the potential of Chinese cultural exports has become apparent. First, the rapid development of building services exports. During the “11th Five-Year Plan” period, exports of construction services increased by 4.6 times; the surplus increased by 8.7 times. Second, the scale advantages of computer and information services and consulting in service exports continue to be consolidated, and trade benefits have gradually increased. During the “Eleventh Five-Year Plan” period, exports of computers, information services, and consulting increased by 4 times and 3.3 times, respectively, with average annual growth of 38% and 34% respectively. Third, services with Chinese characteristics, such as culture, radio and television, education, and Chinese medicine services, have further tapped the export potential.

It is expected that China's service trade will continue to maintain a healthy and stable development during the 12th Five-Year Plan period. However, in the short term, China's trade in services will still maintain a deficit as a whole due to the fact that the deficits in transportation, tourism, finance, exclusive rights use, and franchise industries are difficult to change.

6. About "National Trade and Investment Environment Report (2011)"

In order to help companies and institutions in our country to understand the international trade and investment environment and improve risk prevention awareness and capabilities, the Ministry of Commerce today released the “National Trade and Investment Environment Report 2011” in accordance with relevant provisions of the “Foreign Trade Law” and the “Regulations for the Administration of Import and Export of Goods”. . The report covers the information of 950 trade investment policies and barriers newly issued or proposed by 16 major trading partners, and the status of 66 new trade remedy measures. In 2010, the total import and export volume between China and the above trading partners accounted for approximately 62.53% of China's total foreign trade volume. The Ministry of Commerce has also continued to publish the “National Trade and Investment Environment Report” agricultural product sub-section, summarizing the latest changes and technical trade measures involving trade and investment management systems for agricultural products.

The "Report" analysis believes that China's international trade and investment environment in 2010 is not optimistic. First, the number of trade remedy surveys for my export products remains high. In 2010, China's export commodities suffered a total of 66 "two anti-one-guarantee" investigations from abroad, involving a total amount of US$7.14 billion. Among them, there were 43 anti-dumping cases, 6 anti-subsidy cases, 16 safeguard measures, and 1 special protection cases. The second is that major trading partners such as the United States and Europe have increased the use of technical trade barriers and import restrictions, which has increased the cost of my exporting companies, raised the threshold for the export of goods, and directly restricted my export space. Thirdly, the overseas disputes concerning intellectual property rights involving my company have further increased, and some of the major trading partners have unreasonably increased intellectual property protection measures. In 2010, my export products suffered a total of 19 US 337 investigations. Fourth, some WTO members did not strictly open certain specific areas in accordance with their commitments, and set unreasonable restrictions on the operating activities of foreign-funded enterprises.

The "Report" specifically reminds companies that foreign trade and investment should pay attention to risk prevention. First, we must understand the WTO rules and related knowledge of trade and investment barriers, and constantly enhance our awareness and ability to safeguard our rights. Second, we must actively respond to barriers to trade and investment, and in particular, we must pay attention to solidarity, coordination, and consistent external relations; It is necessary to strengthen industry self-discipline, maintain a good order in foreign trade operations, abide by business ethics and market rules, and actively resist actions such as shoddy and low invoices that disturb the order of export operations; Fourth, we must gradually increase our ability to adapt to international markets and strive to improve our products. Quality and added value, implementation of market diversification strategies, and efforts to reduce and spread risks.

Since 2003, the Ministry of Commerce has released the annual "Country Trade Investment Environment Report" and at the same time released the "Foreign Trade Investment Barrier Information Monthly". The report can be found on the website of the Ministry of Commerce's Import and Export Fair Trade Bureau.

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