On the same day, two blockbuster news were announced one after another.
First of all, the General Administration of Customs released various ** data as of last month, and many people may have paid attention to the fact that our ** surplus has decreased to a certain extent.
Next, the State Administration of Foreign Exchange released the foreign exchange reserve data for the end of August, which unsurprisingly decreased from the previous month, by $44.2 billion.
Perhaps influenced by this information, the offshore exchange rate of RMB appeared on the same day, continued to **, and fell below 7 at the lowest34。
But don't be misled by these figures, if we take a closer look at the breakdown items, we'll be pleasantly surprised.
In recent years, China has continued to improve the structure of objects in the field and has achieved remarkable results. The period when the United States was the main partner has passed, and China has gradually gotten rid of its excessive dependence on the American market and actively expanded other partners.
* The data clearly shows the trend of this transformation, which brings more opportunities and challenges to the stable development of China's economy.
At the beginning of the century, the United States was the main market for China's commodity exports. However, over time, the shrinking demand in the US market and the rise of protectionism have made over-reliance on the US market unsustainable.
In order to avoid potential risks, China actively seeks diversified partners to reduce dependence on a single market.
The data shows that in the past few years, China has continuously strengthened cooperation with ASEAN and the European Union, and has achieved remarkable results.
In the first eight months of this year, there were 4The ** turnover of 11 trillion is ASEAN, 368 trillion is the cooperation of the European Union. The two alliances have surpassed the United States to become important partners of our country.
This diversified partnership structure provides a broader market and more opportunities for our country.
In addition, the total international ** of the Belt and Road countries has reached an astonishing 1262 trillion, which is 4 times the total amount of the United States**. This figure highlights the achievements of China's active promotion of the Belt and Road Initiative, and also highlights the close cooperation between China and countries along the route.
Relying on the Belt and Road Initiative, the scale and depth of cooperation between China and many countries in the field of excellence have been expanding, further reducing the degree of dependence on the US market.
It is worth mentioning that although exports to the United States decreased by 117%, but due to the diversification of the structure and the extensive development of the market, the overall impact of this reduction on our country is controllable.
China has gradually established a more solid and sustainable network of partners, providing more stability and flexibility for economic development.
Another piece of good news is that the structure of China's export commodities has been continuously optimized, showing that China's manufacturing industry has achieved excellent results in structural adjustment. In particular, exports of mechanical and electrical products accounted for nearly 60% of the total export value.
What's even more gratifying is that thanks to the technological leadership of new energy vehicles, China's automobile export growth rate is as high as 1044%, which shows that China has made significant progress in high-end manufacturing.
At the same time, exports of labor-intensive products, as a representative of low-end manufacturing, fell by 24%, and the proportion has also dropped to 175%。These data show that low-end manufacturing is gradually withdrawing from the Chinese market.
This series of data reflects the adjustment and upgrading of the structure of China's manufacturing industry. By optimizing the structure of export commodities, we have gradually reduced our dependence on labor-intensive products and shifted to higher value-added mechanical and electrical products and high-end manufacturing fields such as automobiles.
The export growth rate of mechanical and electrical products shows China's breakthrough in high-end manufacturing. These products usually have high technical content and added value, representing an important step towards the high-end direction of the manufacturing industry.
The short-term ** of the RMB exchange rate has a certain relationship with the sudden ** of the US dollar during this period, but this is not a long-term trend.
Changes in exchange rates have also affected foreign exchange reserves. Due to the strengthening of the U.S. dollar index, non-U.S. currencies** have depreciated in foreign exchange reserves due to exchange rates. But on the other hand, if the dollar is ** in the future, then there will be a strong growth in our foreign exchange reserves.
So these data are just appearances, and the most important thing is the progress we continue to make in the next stage, in the high-tech field, in the field of high-end manufacturing.