[China Glass Network] On the 4th at the 4th China Open Forum held in Ningbo, Zhejiang Province on the 4th, Yao Jingyuan, chief economist of the National Bureau of Statistics, said that since the accession to the WTO, China’s foreign trade has experienced high consumption, high pollution and low returns. To achieve a fundamental change, we need to accelerate the strategic adjustment of the economic structure.
Regarding the current problems in China's foreign trade exports, Yao Jingyuan said that in the past, a large part of China's foreign trade products are characterized by resource-intensive and primary products, as well as low value-added and low-tech content. Over-reliance, low resource utilization; on the other hand, it has led to predatory exploitation of resources and damage to the environment, resulting in serious waste of resources, environmental pollution and weakening of economic development. Obviously, this approach is also not conducive to the stable development of the entire national economy.
Second, since the accession to the WTO, the expansion of China's trade scale has relied too much on processing trade. The structure of export products is relatively low. Even in the processing trade of high-tech products, it is also engaged in labor-intensive processing and assembly, with low added value. . Moreover, the domestic procurement rate is low and the connection with the domestic economy is not close.
Third, China’s overall terms of trade have not been fundamentally improved since the accession to the WTO. As we all know, what we often say is that China’s exports are falling internationally, and China’s imports are rising internationally. This situation is mainly due to our increasing international reliance on resources and energy products. This has led to an increase in our import price index, which has worsened China's terms of trade.
Fourth, since the accession to the WTO, China’s foreign trade has been unbalanced and its trade surplus has been large. In the 10 years since joining the WTO, the cumulative growth of China’s imports has reached 473%, and exports have grown even faster, reaching 492%. As the foreign trade surplus continues to expand, foreign exchange reserves continue to accumulate, and the pressure on the appreciation of the renminbi continues to increase.
Yao Jingyuan said that joining the WTO has been one of the historical periods of China's rapid economic development and is a correct decision. However, we should also see existing problems, accelerate the transformation of economic growth mode, and make the Chinese economy develop healthily. .
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