Guangdong's first quarter foreign trade performance shines with outstanding results. According to the latest foreign trade data released by the Guangdong Sub-administration of GACC, the province's total import and export volume reached an impressive 1.84 trillion yuan in the first quarter. This marks a new historical high for Guangdong's foreign trade goods, further consolidating Guangdong's position as a key player in China's foreign trade, with its scale and significance ranking first in the nation.
Since the beginning of this year, the global economic recession risk has been on the rise, with a slowdown in external demand and weak growth in major economies, posing sustained impact on global trade. How did Guangdong's foreign trade maintain resilience and achieve positive growth in the first quarter despite such pressures? According to recent interviews conducted in Guangdong, this success can be attributed to three key factors: strong enterprise competitiveness, effective policy implementation, and high-quality services. These factors have provided solid support for Guangdong's foreign trade to withstand external pressures and maintain its momentum.
According to a recent survey, declining external demand and insufficient orders are the main difficulties facing foreign trade enterprises at present. Despite this, Guangdong's enterprises have effectively navigated the complex foreign trade landscape by leveraging technology and innovation to develop new product advantages and tap into the potential markets, and have yielded significant results.
As demonstrated at the 133rd Canton Fair, high-tech, high value-added, green and low-carbon products have emerged as the new drivers of Guangdong's foreign trade export growth. Representatives from Guangzhou Feilisi Solar Technology Co., Ltd., one of the participating enterprises at the Fair, stated that their business operates in the competitive new energy storage sector. The company has increased its research and development expenses by 178.42% in the first quarter of this year and has exported its products to over 100 countries and regions.
At the Canton Fair, journalists observed that many Guangdong-based enterprises, like Feilisi Solar Technology are expanding their international market presence by leveraging their core technologies. An increasing number of Guangdong enterprises are proactively developing diversified products to meet the demands of emerging markets, including those along the Belt and Road Initiative.
Since the beginning of this year, Department of Commerce of Guangdong Province and other related departments have introduced a series of foreign trade stabilization policies, leading to a sustained increase in business optimism.
On March 2nd, Several Measures for Promoting Stable Growth of Foreign Trade in Guangdong Province is issued. The measures are aimed at addressing specific challenges faced by enterprises such as insufficient orders, decline in traditional industries, and inadequate momentum in emerging industries. For instance, the government has proposed organizing 242 "Cantontrades Global" overseas exhibitions throughout the year to help companies secure new orders and expand into overseas markets, which will stimulate thousands of enterprises to explore overseas markets.
The recently released Several Measures to Promote Automobile Exports in Guangdong Province aims to seize the opportunity of high-speed growth in this sector and address the weaknesses in Guangdong's automobile export market. According to statistics, in 2022, Guangdong's exports of new energy vehicles totaled 71,000, a year-on-year increase of 4.3 times, with an export value of 8.83 billion yuan, a year-on-year increase of 4.7 times, demonstrating strong momentum.
In addition to favorable policies, many regions and departments in Guangdong province have also innovated measures to provide convenient services for enterprises' import and export activities, promoting the recovery of foreign trade. Recently, the first cross-border sea-air intermodal transportation project with direct access to the airside of an airport, the "Dongguan-Hong Kong International Airport Center", was launched and put into operation. China Customs also supports cross-border multimodal transportation to effectively ensure the security and stability of the industrial and supply chains.