Moving Through Thorns

2020 was a year that was des- tined to be remembered. Last year， China accomplished the important target of poverty alleviation and building an all-round well-off society. In 2020， China completed the 13th Five-Year Plan and formulated the 14th Five-Year Plan. In 2020， China also proposed a new development paradigm featuring dual circulation， with the domestic market as the mainstay and the domestic and international markets reinforcing each other. As China has gradually got control of the COVID-19 pandemic， the Third China International Import Expo， the China Import and Export Fair， and the First China International Fair for Trade in Services were held as scheduled， and the ministries and government departments introduced a number of measures to support the economic recovery. The industries affected by the epidemic are gradually starting to recover.

In 2020， China managed to control the COVID-19 pandemic， while also maintaining economic growth， and was the only major economy around the world that achieved pos- itive economic growth. According to customs statistics， in the first three quarters of 2020， the trade value of Chinas imports and exports totaled RMB 23.12 trillion， marking a yearon-year increase of 0.7%， and the cumulative growth rate for import and export trade turned positive for the first time since 2020.

In the same year， China signed the RCEP agreement and completed negotiations on a EU-China Comprehensive Agreement on Investment， continuously strengthening its ties with the world.

The Regional Comprehensive Economic Partnership （RCEP） is composed of 15 member countries， covering a total population of 2.27 billion， with a GDP of USD 26 trillion and a total export value of USD 5.2 trillion. All these facts indicate that the RCEP will establish the largest free trade zone in the world， which will be an integrated regional market with great potential. Theres a huge production capacity and market in China， outstanding international capital and leading technologies in Japan， established electronic， chemical and automobile industries in South Korea， rich natural resources and labor and a rapidly growing demand for industrial products in ASEAN countries， and abundant supplies of iron ore and dairy products in Australia and New Zealand. Jointly， the RCEP member countries will form a complete industrial chain and will reshape the economy in East Asia and the Western Pacific.

At the end of 2020， China and the EU finished negotiations on an investment agreement as scheduled. As Chinese President Xi Jinping emphasized， the China-EU investment agreement will strongly boost the global economic recovery in the post-pandemic era， and will promote the liberalization and facilitation of global trade and investment， as well as allowing the two major markets of China and the EU to make an important contribution to an open world economy. The negotiations were officially launched in 2013， and it took a total of 35 rounds of negotiations and 7 years to reach an agreement. President of the European Commission， Ursula von der Leyen made a statement on signing the agreement， and stating that the agreement would provide EU companies with “unprecedented opportunities” to access the Chinese market， stimulate economic growth and employment， and “rebalance”China-EU economic and trade relations. Meanwhile， she also stated her belief that the European Parliament would consider current situation and give approval to the agreement.

In addition， although there are still many challenges to face in 2021 and many uncertainties caused by the COVID-19 pandemic， new business opportunities are constantly emerging， including online exhibitions， remote offices， short videos， online medical treatment， and live stream commerce. At the Central Economic Working Conference in December 2020， it was decided that the government should “focus on the main task of supply-side structural reforms， while also paying attention to demand-side management”， which will define the demand-side work in 2021. Meanwhile， the conference also proposed a large number of reform measures， and indicated that consumption， as one of the three driving forces for economic development， would receive unprecedented attention. The implementation of the 14th Five-Year Plan will also bring about opportunities for more industries. In this special edition， reviewing the progress of Chinas foreign trade in 2020， well review the past year in terms of major trade events and will explore the direction and opportunities for economic development in 2021.