On December 7, the General Administration of Customs released data that in the first 11 months of this year, China's total import and export value was 35.39 trillion yuan, an increase of 22% year-on-year and 24% over the same period in 2019. It is worth noting that this figure has exceeded the 32.16 trillion yuan level of last year. Among them, the import and export growth of private enterprises is the fastest, and the proportion is further increased. The analysis points out that while China's foreign trade has maintained strong growth on the whole, the endogenous driving force has been further strengthened. According to customs statistics, in the first November, China's foreign trade exports amounted to 19.58 trillion yuan, a year-on-year increase of 21.8%, an increase of 25.8% over the same period in 2019; The import was 15.81 trillion yuan, a year-on-year increase of 22.2%, an increase of 21.8% over the same period in 2019; The trade surplus was 3.77 trillion yuan, a year-on-year increase of 20.1%. From the current month, China's total import and export value in November was 3.72 trillion yuan, a year-on-year increase of 20.5%, a month on month increase of 11.4%, and an increase of 29.6% over the same period in 2019. Among them, the export was 2.09 trillion yuan, with a year-on-year increase of 16.6%, a month on month increase of 7.6%, and an increase of 33.4% over the same period in 2019; Imports amounted to 1.63 trillion yuan, a year-on-year increase of 26%, a month on month increase of 16.6%, and an increase of 25% over the same period in 2019; The trade surplus was 460.68 billion yuan, a year-on-year decrease of 7.7%. It is generally believed that China's foreign trade import and export performance is strong. Wang Qing, chief Macro Analyst of Dongfang Jincheng, said that while the growth rate of exports continued to remain high in November, the growth rate of imports rebounded sharply than expected. Among them, the contribution of price factors to the growth of import value is still high. Meanwhile, the year-on-year growth rate of the import volume of major commodities in November generally improved, which also had a significant positive pull on the year-on-year import volume of the current month. Tang Jianwei, chief researcher of the financial research center of the Bank of communications, also said that since this year, China's export has strong tenacity and has always maintained a high outlook. The export reached a new high this month and the import performance exceeded expectations, resulting in a slight decline in the scale of the trade surplus, but still maintaining a high surplus level. While the total volume is stable and positive, China's foreign trade also presents a series of highlights. From the perspective of market subjects, private enterprises perform prominently. In the first 11 months, the import and export of private enterprises reached 17.15 trillion yuan, an increase of 27.8%, accounting for 48.5% of China's total foreign trade, an increase of 2.2 percentage points over the same period last year. In terms of product structure, the exports of mechanical and electrical products and labor-intensive products increased. In the first 11 months, China exported 11.55 trillion yuan of mechanical and electrical products, an increase of 21.2%, accounting for 59% of the total export value; The export of labor-intensive products was 3.56 trillion yuan, an increase of 10.2%, accounting for 18.2%. From the perspective of trade mode, the import and export of general trade increased and the proportion increased. In the first 11 months, China's general trade import and export reached 21.81 trillion yuan, a year-on-year increase of 25.2%, accounting for 61.6% of China's total foreign trade, an increase of 1.6 percentage points over the same period last year. In addition, China's import and export by bonded logistics amounted to 4.44 trillion yuan, an increase of 28.5%. From the international market, China's imports and exports to major trading partners have increased. In the first 11 months, the total trade value between China and ASEAN, the European Union, the United States and Japan was 5.11 trillion yuan, 4.84 trillion yuan, 4.41 trillion yuan and 2.2 trillion yuan respectively, with year-on-year growth of 20.6%, 20%, 21.1% and 10.7% respectively. Among them, ASEAN is China's largest trading partner, accounting for 14.4% of China's total foreign trade. The analysis points out that these positive factors have laid a solid foundation for the stability and quality improvement of China's foreign trade. China's novel coronavirus pneumonia epidemic has been overcome by the Vice Minister of Commerce Ren Hongbin, who has fully utilized the advantages of manufacturing industry and the complete supply chain, and effectively compensated the gap in global supply. The resilience of China's supply chain has been enhanced. Looking forward to the whole year's foreign trade, Ren Hongbin believes that we are fully confident to achieve the goal and task of "stabilizing quantity and improving quality" throughout the year. However, Ren Hongbin also pointed out that at present, the epidemic situation in the century and the changes in the century are intertwined, domestic and international challenges coexist, and short-term and medium and long-term risks overlap. Behind the rapid growth of China's foreign trade, we must clearly see that many foreign trade enterprises, especially small, medium-sized and micro foreign trade enterprises, have increased business pressure and difficulties, and the phenomena of "dare not take orders" and "increasing income without increasing profits" are more common. There are still many hidden worries in the development of foreign trade, so we can't be blindly optimistic. Ren Hongbin said that in the next step, the Ministry of Commerce will closely track the situation, conduct in-depth investigation and research, do a good job in cross cycle adjustment with relevant departments in view of the actual difficulties and needs faced by foreign trade enterprises, and timely introduce a new round of foreign trade stabilization policies and measures to ensure that foreign trade operates within a reasonable range. (outlook new era)