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Action taken to ensure foreign trade growth

By LIU ZHIHUA in Beijing and HU MEIDONG in Fuzhou | CHINA DAILY | Updated: 2022-03-08 07:12
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Household battery storage inverters, mainly for export, are produced at a factory in Hangzhou.[Photo by Xu Junyong/For China Daily]

"The better-than-expected performance last year was mainly due to a series of policy measures stabilizing foreign trade growth, and strict and effective COVID-19 control and prevention methods that enabled China to fully play the role of the largest global manufacturing powerhouse," he said.

"This year, upbeat growth, enhanced quality and improved structure in foreign trade are still to be expected in context of the nation's integrated and large-scale industrial chains and high-level opening-up, especially as China has been rolling out supportive measures to add resilience to the foreign trade sector," Zhang said.

He predicted that the nation will sustain an overall trade surplus while narrowing the trade deficit in services. Zhang also stressed that Chinese enterprises, especially private ones with advanced technologies and independent brands, have become an exceptionally strong force in foreign trade, accounting for about half the nation's exports.

Yin Jinshan, general manager of Hubei Kingshan Lighting Electrico, which is based in Wuhan, Hubei province, is cautiously optimistic about the company's growth prospects this year.

A manufacturer and exporter of home appliances such as rechargeable fans, emergency lamps and desk lamps, along with electric bug killers, the company's products sell well in the Middle East, South Africa and Southeast Asia.

Last year, its overseas sales rose by 20 percent year-on-year, although profit growth fell by more than 10 percentage points, mainly due to surging prices for raw materials and high maritime transportation charges, as well as fluctuations in the renminbi exchange rate.

Yin said, "This year seems to be harder for us compared with 2021, but as long as we survive, there will be huge growth potential for us when the negative impacts of the pandemic gradually fade away, probably next year.

"The government has issued many new policies and provided us with a lot of support, but ultimately we must rely on ourselves rather than others to solve problems, and there is ample room for us to reduce costs and improve efficiency."

The company's intensified new product research and development efforts have resulted in many new offerings that are highly popular with clients. Thanks to its newly established e-commerce team, revenue generated through online channels has compensated for declining orders from traditional offline clients due to the pandemic, Yin said.

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