(Source: CCTV Financial Review, 2024-07-12)
On July 12, the General Administration of Customs released data. In the first half of the year, the total value of my country's import and export of goods w88 was 21.17 trillion yuan, a year-on-year increase of 6.1%. Let's go deep into the industry to observe what new changes have occurred in the export of foreign w88 products, what new actions have foreign w88 business entities made in improving "quality" to "new", and how to continue to enhance the market competitiveness of foreign w88. CCTV Financial Commentary invited Tu Xinquan, dean of the China WTO Research Institute at the w88 casino, and Su Jingchun, an associate researcher at the China Academy of Fiscal Sciences, to give interpretations.
Continuous transformation and upgrading, endless power
CCTV Financial Commentary: First of all, let’s go deep into the industry to observe. So what new changes have occurred in the structure of my country’s export products in the first half of this year, Mr. Tu?
Tu Xinquan: The rapid development of our country’s foreign w88 should have started in the 1990s. At that time, our main export products were labor-intensive, low-end, low value-added products, such as clothing, shoes, toys, etc., but now it can be said that this is no longer the case. After decades of hard work, we have continuously climbed up the industrial chain. It can be said that from the lowest-end processing and assembly back then, we have entered some of the most cutting-edge industries in the world. For example, in the first half of this year, the three categories of products with the fastest growth in our exports were ships, chips, and cars. Such a product structure is completely that of a highly industrialized country. In addition, from the perspective of the structure of w88 methods, it is also very obvious. In the past, we relied heavily on processing w88, that is, importing intermediate goods, processing and assembling them and then exporting them. But now our processing w88 exports account for only 18%, and 66% are general w88. This shows that our export w88 is now more completely dependent on our domestic supply chain. This is also an improvement in our independent production capabilities, including our technical level, independent brands, etc., so this fully reflects the results we have achieved in industrial transformation and upgrading in the past few years.
Carry forward the tradition of intensive farming and tap potential to expand the market
CCTV Financial Comment: We know that the entire external market has actually been undergoing many new changes in the past two years, and many new demands have burst out. In terms of how our foreign w88 companies are meeting these changes and catering to the new needs of the market, Mr. Tu, based on your observation, what improvements and adjustments have been made in our innovation?
Tu Xinquan: Well, we just talked about our transformation and upgrading from a national perspective and an industrial perspective. In fact, from an enterprise perspective, we also have this need for transformation and upgrading. We have a concept called the smile curve, which means that for enterprises, whether it stays at the bottom of the smile curve or extends to both ends, the two ends are, on the one hand, technological innovation, and on the other hand, the control of market demand. As I just mentioned, processing w88 is a major form of our w88. This refers to the bottom-end processing and manufacturing link of our enterprises. In the past, we did not control both ends of the smile curve, but now as our enterprises continue to improve this ability, we are actually extending it at both ends. On the one hand, it is technological innovation. It should be said that our company has achieved very good results in developing new products. We just mentioned our breakthroughs in some new industries. Another very important aspect is that our grasp of the market and the demand side is getting better and better. In the past, our companies relied more on foreign companies to enter foreign markets and grasp these needs. But our companies themselves don’t quite understand this (foreign) demand. But now it should be said that our enterprises, especially private enterprises, I think have given full play to China's long-term tradition of intensive farming. Although it comes from farming culture, I think it is now well reflected in the manufacturing industry. In response to the market needs of these different countries, we have developed products that adapt to local market needs. Especially in the markets of some developing countries that we may have been relatively small and relatively fragmented in the past, we are now developing very well. We have entered these markets to understand them in depth. According to the special needs of these markets, we can then develop our products in a targeted manner and export them to these markets. Therefore, in this way, we can have a more complete grasp of the entire smile curve or the entire supply chain. In fact, for enterprises, this also means higher efficiency and higher profits.
Being a better self is the foundation of invincibility
CCTV Financial Commentary: It can be said that the growth rate of my country's import and export is accelerating quarter by quarter. In the second quarter, it increased by 7.4% year-on-year. Next, we must continue to consolidate the good momentum, from industry, enterprise to policy support. In these aspects, how does Mr. Tu think we should strengthen it?
Tu Xinquan: Judging from the current situation, the growth momentum of foreign w88 in the second half of this year is still good. From a demand-side perspective, growth in relevant countries is recovering, especially in developed countries. However, for developing countries, we still maintain rapid growth, especially ASEAN. Well, this is also due to the demand for our information technology products driven by artificial intelligence. However, we have no way to control the demand side. I think for us, we still need to improve our products from the supply side. This is the most important, especially to speed up the improvement of our technology and quality to maintain our competitiveness. So the point I want to emphasize is to ensure our quality. It should be said that we all know that both the domestic market and the international market are now very involved and the competition is very fierce. However, we must not relax our quality requirements because of volume and fierce competition. It is not easy for Chinese products to win a good reputation in the international market. We have spent a lot of effort to improve our quality and image. We should not relax our quality requirements and damage the image of our Chinese products because of excessive volume and excessive competition.
Attached is the original video source: https://app.cctv.com/special/m/livevod/index.html?guid=48611825e3f749288858191ff61d1a3f&vtype=2&vsetId=VSET100156269129.
