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High-level Economic And Trade Contacts Between China And The United States Have Resumed
Kinghood International Logistics Inc | Updated: Nov 26, 2018

China's ministry of commerce held a regular press conference on nov 15.Gao feng, spokesman for the ministry of commerce, told a news conference that high-level economic and trade contacts between China and the United States have resumed after the phone call, and the two sides are in close contact to earnestly implement the consensus reached by the two presidents.

The economic and trade frictions between China and the United States have affected the businesses of both countries to different degrees. We still hope to properly resolve our differences through dialogue and consultation so as to create a stable and predictable environment for our businesses.China's import market has huge potential and is sincerely open to the world.

I. the main situation of foreign investment in January and October this year

From January to October this year, foreign investment has the following characteristics:

First, the actual use of foreign capital has maintained steady growth.

From January to October this year, 49,545 foreign-invested enterprises were set up nationwide, up 89.3 percent year-on-year.Actual use of foreign capital amounted to 70.16 billion yuan, up 3.3% year on year ($107.66 billion, up 6.5% year on year).

In October, 3,623 new foreign-invested enterprises were set up nationwide, up 37.6% year on year.Actual use of foreign capital totaled 64.46 billion yuan, up by 7.2 percent year-on-year (or 9.7 billion U.S. dollars, up by 7.3 percent year-on-year).

Second, the high-tech industry, especially the high-tech manufacturing industry, continues to grow.

In the january-october period, 220.26 billion yuan of foreign investment was actually used in the manufacturing sector, up 12.4 percent year-on-year.The actual use of foreign capital in high-tech industries increased by 11.4 percent year-on-year, accounting for 22.4 percent.Actual use of foreign investment in the high-tech manufacturing sector reached 73.78 billion yuan, up 30.6 percent year-on-year.Among them, the electronics and communication equipment manufacturing, medical equipment and instrument manufacturing, computer and office equipment manufacturing grew by 34.3%, 153.4% and 130.1%, respectively, year on year.

Third, the western region to absorb foreign investment growth is high, free trade pilot area maintains the leading position.

From January to October this year, 49.41 billion yuan of foreign capital was actually used in western China, up 16.8 percent year-on-year.7,844 new foreign-invested enterprises were set up in the pilot free trade zone, up 39.8 percent year-on-year.Actual use of foreign capital increased by 10.5 percent year-on-year, accounting for 12.5 percent.The actual use of foreign capital in tianjin and fujian pilot free trade zones increased by 29.5% and 136.2%, respectively, year-on-year.

Fourth, among the major sources of investment, South Korea, Japan, the United States, Britain, Germany and France performed well.

From January to October this year, among the major sources of investment, the actual investment in South Korea, Japan, the United States, the United Kingdom, Germany and France increased by 36%, 24%, 4.1%, 175.9%, 31.2% and 19.3%, respectively, year-on-year.Actual foreign investment in countries along the belt and road of One Belt And One Road, asean and eu increased by 11.9%, 13% and 15.3% year on year, respectively.

Second, China's overseas investment cooperation in January and October this year

From January to October this year, China's outbound investment cooperation continued to maintain steady and sound development.In the first ten months, domestic investors made non-financial direct investment in 4,905 overseas enterprises in 155 countries and regions, with a total investment of 89.57 billion us dollars, up by 3.8 percent year-on-year.The amount of new contracts signed by foreign contractors reached us $168.2 billion and the completed turnover reached us $121.67 billion, a year-on-year increase of 2.5%.Foreign labor service cooperation sent 392,000 personnel of various types to China, and by the end of October, the number of personnel sent abroad was 993 thousand, an increase of 19,000 over the same period last year.

In the first ten months of this year, China's outbound investment cooperation showed the following characteristics:

First, actively promote investment cooperation among countries along the "One Belt And One Road" line.In the first 10 months of this year, companies made new investments in 55 countries along the "One Belt And One Road" line, totaling $11.9 billion, up 6.4 percent year-on-year.In the countries along "One Belt And One Road", the newly signed project contracts with foreign countries amount to usd 80.91 billion, accounting for 48.1% of the total amount in the same period, and the completed turnover of usd 65.33 billion, accounting for 53.7% of the total amount in the same period.

Second, the structure of outbound investment has been continuously optimized, and irrational investment has been effectively curbed.From January to October, outbound investment mainly went to leasing and business services, manufacturing, mining, wholesale and retail, accounting for 32.6 percent, 17 percent, 9.4 percent and 9.2 percent, respectively.There are no new projects in the real estate, sports and entertainment industries.

Third, the number of new large projects contracted out to foreign countries is large, and the role of exports is obvious.From January to October, 573 projects with a new contract value of $50 million or more were signed, totaling $142.8 billion, accounting for 84.9% of the total new contracts signed.Foreign contracted projects led to $14.34 billion in exports, up 15.9 percent year on year.

From January to October 2018, a total of 7119 outbound investment enterprises were registered or approved by relevant competent authorities, with the agreed investment amount of us $107.94 billion by the Chinese side.Among them, 7,082 non-financial outbound investment enterprises have been registered or approved.China has agreed to invest $7.24 billion in 37 financial outbound investment enterprises that have been filed or approved.

3. About the operation of the consumer market in October 2018

The overall consumer market was stable in October. According to the national bureau of statistics, the total retail sales of consumer goods reached 3.55 trillion yuan, up 8.6% year on year.The cumulative year-on-year growth in the january-october period was 9.2 percent.Retail sales of 5,000 key enterprises monitored by the ministry of commerce rose 4.5 percent year-on-year in October, down 0.3 percentage points from September and up 4.5 percent year-on-year in the january-october period.The consumption market mainly presents the following characteristics:

First, festival consumption plays an obvious driving role.China's retail and catering companies achieved sales of about 1.4 trillion yuan during the golden week, with average daily sales increasing by 9.5 percent year-on-year.Shanghai shopping section started on September 28 and lasted for 45 days. The sales increased by 15.6% year on year. Among them, the consumption of goods retail, catering and other services increased by 10.7%, 20.6% and 21.6% respectively, and the sales of mobile phones, household appliances, cosmetics and clothing increased by 34.5%, 23.2%, 17.6% and 12.3% respectively.

Second, service consumption highlights.In October, national catering income reached 4006 billion yuan, up 8.8 percent year-on-year, 0.2 percentage points higher than that of commodity retail sales.During the golden week, more than 730 million domestic tourists were received, up 9.4% year on year.Domestic tourism revenue reached 599.1 billion yuan, up 9 percent year-on-year.

Third, online consumption has maintained good growth.China's online retail sales of physical goods reached 5.4 trillion yuan in the january-october period, up 26.7 percent year-on-year, accounting for 17.5 percent of the total retail sales of consumer goods, up 3.5 percentage points from a year earlier, according to the national bureau of statistics.

Fourth, the overall stability of consumer prices.Overall consumer prices rose 2.5 per cent in October from a year earlier, unchanged from the previous month and up 0.2 per cent month-on-month.Food prices in 36 large and medium-sized cities monitored by the ministry of commerce rose 0.8% month-on-month in October.In the january-october period, the price of edible agricultural products increased by 1.8 percent year-on-year.

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