The School of Economics and Business Administration of Beijing Normal University and the Yangtze River Industrial Economic Research Institute of Nanjing University recently jointly released the “China Import Development Report 2020.”
The “Report” pointed out that from 2001 to 2019, the increase in China’s total imports of goods accounted for 14.3% of the increase in global imports, second only to the EU. In 2019, China’s total imports of goods accounted for 10.8% of the world’s total imports. In the first 10 months of 2020, this proportion reached 11.5%, a record high.
At the same time, China has become the main export destination of many countries in the world, and the proportion of China’s imports in the exports of major trading partners continues to increase. The expansion of China’s import scale has not only significantly promoted the economic growth of countries that have relatively close trade relations with China, countries participating in the “Belt and Road”, countries of Organization for Economic Cooperation and Development (OECD), and low- and middle-income countries, it has also created more job opportunities for related countries.
According to the “Report”, from a national perspective of China, Guangdong province ranked first in terms of import volume, while Hebei province saw the largest increase in import volume in 2019.
Source: People’s Daily Online