He Yongqian: Friends from the press, good afternoon. Welcome to the regular press conference of the Ministry of Commerce. I have no briefing to make today. Now I would like to take your questions.

China Business News: In the first 10 months of this year, China’s trade in goods increased by 5.2% year on year. The fourth quarter is usually the peak trade season. What measures will the Ministry of Commerce take to further promote foreign trade?

He Yongqian: In the first 10 months of this year, China's total import and export reached 36.02 trillion yuan, a record high compared with the same period in the past. In the complex and severe international trade situation, the steady growth of foreign trade fully demonstrates the resilience and vitality of China's industrial chain and supply chain, and plays an important role in supporting the economic recovery.

In its executive meeting on November 8, the State Council deliberated and adopted Several Policies and Measures to Promote the Steady Growth of Foreign Trade, making plans for foreign trade development in the next stage. We will work with local governments and related departments to implement these policies with intensified efforts, focusing on the following three aspects:

First, we will step up financial support, expand the scale and coverage of export credit insurance, increase financing support for small, medium and micro foreign trade enterprises, provide guidance for banking institutions to optimize their overseas layout, and improve their ability to provide services for enterprises in exploring international markets.

Second, we will strengthen new growth drivers for foreign trade, promote the development of cross-border e-commerce and the construction of overseas smart logistics platforms. We will support qualified localities in exploring the development of cross-border e-commerce service platforms to provide enterprises with overseas legal and tax resources and other matchmaking services.

Third, we will strengthen service provision for foreign trade enterprises, promote innovation and development of green trade, border trade, and bonded maintenance, facilitate the travel of business personnel from key trading partners to China, support strategic cooperation between foreign trade companies and shipping enterprises, and strengthen employment services for foreign trade enterprises. Thank you.

The Cover : The U.S. Department of Commerce has reportedly sent a letter to TSMC imposing export restrictions on certain complex chips of 7 nm or more advanced designs that are shipped to China for use in artificial intelligence accelerators and graphics processing units. What is your comment on this?

He Yongqian: China has noted this development. For some time, the US has been abusing export control measures, exercising long-arm jurisdiction, intensifying its crackdown on China's semiconductor industry, and fragmenting the global semiconductor market. This is a serious breach of international economic and trade rules and flagrant interference in free trade. It is a typical non-market practice. The semiconductor industry is a typical example of division of labor and cooperation in the global industry. The US practices will only harm the interests of all parties and hinder global scientific and technological exchanges and economic and trade cooperation. Thank you.

CNBC: The “Double 11” shopping festival has just passed, and China’s International Premium Consumption Month and other activities are held in many places. Could you introduce the current situation and trends of the consumption market? What are the expectations for future consumption growth?

He Yongqian: At the beginning of November, the Ministry of Commerce worked with competent departments, cities, and industry associations to launch the Premium Consumption Month activities in international consumption center cities. Great progress and achievements have been made. The consumption market has the following features:

1. The debut economy is a highlight. Many places hold debut activities of launching, displaying and exhibiting international premium products, domestic trendy goods, and time-honored brands. A number of new first stores, flagship stores and concept stores have opened, injecting new vitality into the consumption market. Beijing has launched the “New Arrivals Season”. Guangzhou and Tianjin has held the "Trendy Guangzhou" and "Jinmen Style Show" premium debut activities respectively. At the recently concluded seventh China International Import Expo (CIIE), 450 new products, technologies, and services were showcased. Among them, more than 100 made its world debuts, 40 were first launched in Asia, and over 200 were first launched in China.

2. Goods consumption grows steadily. Local governments work with relevant industry associations to organize consumer-friendly activities in supermarkets, shopping centers, and outlets to boost market vitality. Commercial big data shows that sales of home appliances, communication devices, and apparel by closely monitored retail businesses increased by 45%, 28%, and 6% respectively in the first half of November, and sales of some time-honored brand products doubled. The trade-in policy continues to gain momentum. By November 11, there were 1.886 million applications for subsidies for scrapping old vehicles and purchasing new ones and over 1.8 million applications for subsidies for trade-ins. 21.608 million consumers purchased 32.719 million units of eight categories of home appliances. On closely monitored e-commerce platforms, sales of range hoods and gas stoves register the largest growth.

3. Service consumption shows huge vitality. Various activities such as service consumption seasons, Chinese culinary fairs, hotpot festivals, international arts festivals are held to expand high-quality supply, innovate consumption scenarios, and meet the personalized and diverse needs of consumers. Data shows that in the first half of November, sales in the catering, accommodation, leisure, and entertainment sectors grew by more than 10% year on year.

4.New forms of consumption are thriving. Digital, green, intelligent, and health consumption are gaining popularity. Sales of energy-efficient all-in-one washers and dryers, air conditioners with fresh air systems, smart robot vacuum cleaners, water-saving dishwashers, and action cameras by some businesses grow by more than 100% year on year. Some companies used artificial intelligence technology to create smart fitting rooms and digital experience centers, providing immersive consumption experiences that better meet the personalized needs of consumers.

Looking ahead, it is expected that the consumer market will maintain a positive trend as the International Premium Consumption Month activities, the trade-ins policy and a package of incremental measures take effect. Thank you.

Reuters: French wine lobby groups say that recent exchanges between China and France at the CIIE in Shanghai have helped restart dialogue. Does the restarting of dialogues between China and France on brandy tariffs indicate a warming of bilateral economic and trade relations? As France was the guest country of honor at this CIIE, does this mean a mediating way of solving tariff issues?

He Yongqian: Regarding your first question, on November 3, Minister of Commerce Wang Wentao in preparation for the seventh CIIE in Shanghai met with Sophie Primas, French Minister Delegate for Foreign Trade and French Nationals Abroad who was invited to the CIIE. They had in-depth exchanges of views on China-French economic and trade cooperation and recent China-EU trade remedies cases.

Regarding your second question, this year marks the 60th anniversary of the establishment of diplomatic relations between China and France and the 20^th anniversary of the establishment of China-France Comprehensive Strategic Partnership. France once again served as the guest country of honor at the CIIE. France had more than 100 businesses participating in the CIIE, the most among EU member states. This fully demonstrates that French businesses place great importance on the Chinese market. We encourage more French businesses to use large exhibition platforms such as CIIE and China International Consumer Products Expo to introduce French quality products to China. Thank you.