You are very concerned about the foreign trade situation. To understand the situation of foreign trade, we should pay attention to not just the current performance but also the long-term trends, not just steady increase in volume but also improvement in the structure.

Since the beginning of this year, China’s foreign trade has developed against sluggish global economic and trade growth. Affected by economic and non-economic factors, China’s foreign trade is faced with constant pressure and a grim and complex situation. In this context, foreign trade enterprises have met the challenges head on and actively explored the international market. We have continued to enhance the effectiveness of the policies to stabilize foreign trade and moved faster to remove impediments and challenges to doing trade. Competitive products have grown from strength to strength, which keep contributing to export growth. In general, China’s foreign trade has withstood multiple pressures, showed strong resilience, and performed stably overall, with some positive changes in the stats.

Going forward, we will continue to put in place and implement policies to promote steady increase in both the volume and quality of foreign trade, address weak links and maintain a competitive edge. We will further improve the toolkit of trade policies in response to concerns of the market and enterprises, such as special policies to enhance the development of processing trade, and policies to promote the development of service trade and digital trade. We are committed to cultivating growth drivers, consolidating the foundation of innovation, and effectively stabilizing the fundamentals of foreign trade, so as to make due contributions to the recovery of China’s economy. Thank you.