On June 9, the General Department of the Ministry of Commerce and the Academy of International Trade and Economic Cooperation jointly released the Report on China's Foreign Trade Situation (Spring 2021) (hereinafter referred to as the "Report"). The report reviews the operation of China's foreign trade since 2020 and 2021, and analyzes the development environment of China's foreign trade in 2021. In 2020, in the face of the grim and complex international situation, especially the severe impact of the COVID-19 epidemic, China's foreign trade bucked the trend and grew better than expected, its scale and international market share reached a new high, and new achievements were made in high-quality development. Since 2021, China's foreign trade has continued its growth momentum and got off to a good start. The report also pointed out that the high growth of foreign trade since this year is the result of factors such as the stable recovery of the domestic economy and the continuous improvement of external demand.

The report believes that the current global epidemic is still not under effective control, the recovery of the world economy is unstable and unbalanced, the layout of the international industrial chain and supply chain is deeply adjusted, and the external environment for the development of China's foreign trade is still complicated. At the same time, we must also see that the Chinese economy is stabilizing and improving, and we have taken multiple measures to stabilize foreign trade policies. New business forms and models are developing vigorously, and foreign trade enterprises are becoming more resilient. This will provide strong support for the steady growth of import and export volume and quality.

We will resolutely promote innovative development of trade, focus on implementing three major plans, namely, better import and export, trade and industrial integration, and unimpeded trade, and strive to promote high-quality development of foreign trade.

Annex: China's Foreign Trade Situation Report (Spring 2021)