According to Guangdong Branch of General Administration of Customs, in the first 4 months of this year, the total value of import and export in Guangdong province amounted to 2.12 trillion yuan, accounting for 22.3% of the total national volume. Export alone totaled 1.27 trillion, an increase of 2.4% year on year.
Driven by technological innovation and industrial upgrade, Guangdong's export of high-tech and high-value-added products has been steadily increased in recent years. New forms of industry have also become an impetus for the foreign trade growth.
Trade along the B&R continues to grow
Guangdong has been working to develop a diversified international market, a strong support for foreign trade. In Q1, Guangdong's foreign trade with countries and areas along the Belt and Road (B&R) routes increased by 3.2%, amounting to around 496 billion yuan.
"Over the past couple of years, customs have been promoting the reforms of customs integration, Single Window and international AEO mutual recognition, enabling us to serve customers more efficiently and gain more international orders." said Liu, Midea's export business leader.
According to Liu, Midea exported thousands of goods to the B&R regions in the first 4 months of 2019; the value of these goods totalling 340 million yuan, a year-on-year increase of 51.2%.
Nowadays, the high-value-added products coming out of enterprises along the Guangzhou-Shenzhen-Hong Kong-Macao sci-tech innovation corridor are taking an increasingly important position, in the fields of computing, communication goods and consumer electronics.
Bai Ming, deputy director of the International Market Research Department for the Chinese Academy of International Trade and Economic Cooperation, put forward the suggestion that Guangdong foreign trade enterprises should further expand their international market. On one hand, to enhance their capacity for ‘market radiation’ through the facilitation and liberalization of trade. On the other hand, to cultivate more a competitive advantage by developing strategic emerging industries.
Cross-border e-commerce import & export increased by 60%
In Guangdong, an export-oriented region, cross-border e-commerce is booming. Last year, Guangzhou and Shenzhen launched 51 new innovative measures including the B2B supervision pattern.
With the help of Guangzhou and Shenzhen's comprehensive pilot zones, and two new pilot zones in Zhuhai and Dongguan, cross-border e-commerce import and export of Guangdong increased by 72% in 2018. This year Guangdong has maintained this momentum, and in Q1 achieved 23.7 billion yuan in cross-border e-commerce, an increase of 62.2%on last year.
According to the Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area，Guangdong should promote logistics cooperation with Hong Kong and Macao and develop third-party and cold-chain logistics to improve supply chain management and build an international logistics hub.
The Hong Kong-based Richful Deyong Group is making full use of its advantages to serve mainland-overseas trade resources. Yang Yongyi, general manager of Richful Deyong Group Guangzhou Branch, said that Hong Kong, as an international finance center, can help mainland enterprises with transformation and upgrade, brand building and overseas trade and investment.
Reported by Will, Pu Enling
Edited by Simon