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In the afternoon of April 29, Zhejiang Provincial Department of Commerce held a cloud conference on Zhejiang’s business operation in the first quarter of 2020. Zhang Qianjiang, spokesman and deputy director of the Provincial Department of Commerce, made the announcement.
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Since this year, in the face of unprecedented difficulties and challenges such as the global spread of the COVID-19, the provincial business system, in accordance with the decision-making and deployment of the provincial party committee and the provincial government, has made overall efforts to promote epidemic prevention and control, stabilize foreign trade, stabilize foreign capital and promote consumption, and strive to minimize the impact of the epidemic on the economy. The provincial business operation in the first quarter is reported as follows:
The consumer market has gradually warmed up. From January to March, the total retail sales of social consumer goods in the province reached 533.43 billion yuan, down 14.7% year on year (the same below), 4.3 percentage points higher than that in the country. The zero decline in March was 10.2 percentage points lower than the cumulative decline from January to February. The monitoring of more than 600 wholesale, retail and commercial enterprises across the province showed that the sales in March increased by 193%, 109% and 117% month on month respectively.
Foreign trade exports show resilience. According to customs statistics, the total import and export volume of the province from January to March was 629.94 billion yuan, down 5.4%, 1.0 percentage points higher than that of the whole country. Among them, the export growth rate was 1.0 percentage points higher than that of the whole country, accounting for 13.2% of the whole country, 0.2 percentage points higher than that of the same period last year; Import was 9.3 percentage points higher than that of the whole country. The export structure was further optimized, and the export of high-tech products increased by 2.1%, with the proportion rising to 8.0%; Private enterprises performed well, with the proportion rising to 78.8%, 0.8 percentage points higher than last year.
The utilization of foreign capital was stable on the whole. According to the statistics of the Ministry of Commerce, from January to March, there were 539 newly established foreign-funded enterprises in the province. The actual use of foreign capital was 27.1 billion yuan, up 0.3%, 11.1 percentage points higher than that of the whole country, and 3.89 billion dollars, down 2.1%. The scale accounts for 12.5% of the national share, and it is the first time to enter the top three in China. Among them, the actual foreign investment in high-tech industry was 1.28 billion US dollars, accounting for 32.8% of the province’s actual foreign investment, 4.3 percentage points higher than the same period last year.
Foreign investment dropped significantly. From January to March, there were 119 overseas enterprises and institutions registered and approved in the province, and the registered amount of overseas direct investment was 2.33 billion US dollars, down 30.1%. The province’s foreign economic cooperation achieved a turnover of 1.44 billion US dollars, a decrease of 37.9%. The province achieved 20 overseas investment projects in the form of mergers and acquisitions, a decrease of 44.4%, and the amount of mergers and acquisitions was 450 million US dollars, a decrease of 31.7%.
New types of trade remained active. The digital service trade grew rapidly. The total import and export volume of telecommunications, computer and information services increased by 118.8%, accounting for 36.6% of the province’s service trade, becoming a new force to drive the development of service trade; Financial services and personal cultural and entertainment services maintained a rapid growth trend, up 37.4% and 7.9% respectively. The cross-border online retail export of the province was 17.79 billion yuan, up 8.9% against the trend. Among them, Jinhua, Hangzhou and Ningbo ranked the top three in the province, accounting for 43.0%, 24.2% and 12.2% respectively.
The open platform plays the role of “stabilizer”. The pilot free trade zone has become an important force to stimulate growth. The total import and export of goods was 32.7 billion yuan, up 120.7%; The actually used foreign capital was 79.15 million US dollars, up 134.7%. The “Yixin Europe” train fully played its role as an international logistics channel. In the first quarter, 108 trains were opened, with 9100 TEUs shipped, an increase of 86.6%. The provincial economic development zones remained stable, with the total import and export volume of 314.27 billion yuan in the first quarter, up 1.9%; The actually used foreign capital was 2.38 billion US dollars, down 5.6%; The fiscal revenue was 131.8 billion yuan, up 6.0%.
In general, in the first quarter, we faced an unprecedented complex environment and huge impact. Some business development indicators showed negative growth, but overall, it was better than the whole country and led the east, fully reflecting the effective response to the epidemic and the greater resilience of Zhejiang’s economy. At the same time, facing huge difficulties and challenges in the business sector of the province, we accelerated reform and opening up, promoted the transformation of new and old drivers, and presented some new development highlights: First, the reform dividend of the pilot free trade zone was released continuously. In the first quarter, both import and export and foreign investment in the pilot free trade zone grew by more than 100%. Especially in the context of the obvious contraction of international shipping, the pilot free trade zone realized the direct supply of 993000 tons of bonded fuel oil, an increase of 14.1%, relying on the excellent international business environment and maritime service capacity. Second, the “online trade fair” took advantage of the trend. Since the launch of the exhibition on March 6, our hall has held six Zhejiang export online fairs in Vietnam, Portugal, Italy, India, etc., involving textile and clothing, epidemic prevention materials, auto parts, building materials and other industries. Nearly 500 overseas purchasers and nearly 450 Zhejiang enterprises have held nearly 1500 precise negotiations, with an intended turnover of more than 300 million dollars, and about 40% of enterprises have sent samples. Ministerial leaders from Portugal, Vietnam, India and other countries attended the ceremony. At present, the online trade fair has become an important platform for expanding the market. We will further focus on the major export countries of Zhejiang, and release the online trade fair catalogue dynamically in stages. At 4:00 this afternoon, we will hold the opening ceremony of Zhejiang Digital Service Trade Cloud Exhibition and 2020 Zhejiang Export Online Trade Fair (Digital City Service Session, European Three Kingdoms Station Chinese Medicine Anti epidemic Session) on the north sixth floor. Third, the foreign business environment was fully recognized. In the context of the overall contraction of the investment of transnational corporations, the profit reinvestment of foreign-funded enterprises in our province increased by 14.6% in the first quarter, accounting for 1.5 percentage points higher than that in the same period last year. Among them, 10 enterprises with profit reinvestment of more than $10 million were profit reinvestment, which fully demonstrated that foreign investors recognized the good business environment in Zhejiang.
We will work harder and take more precise measures to ensure that “both hands must be hard, and both battles must be won”, so as to ensure the completion of all work tasks.
Q&A session
Zhejiang Daily:
According to the released data, the new trade data has risen against the trend. What are the highlights of service trade in our province in the first quarter?
Zhuang Jin, Director of the Service Trade Department of the Provincial Department of Commerce:
OK, thank you for your question. In the first quarter, Zhejiang’s service trade still had many bright spots. Here I mainly introduce seven highlights.
Highlight 1: The import and export of telecommunications, computer and information services performed well, mainly reflected in the “double growth” of import and export driven by rising demand. Influenced by the rising demand for home office, online video, online entertainment, etc., in the first quarter, the export of telecommunications, computer and information services of our province exceeded 10 billion yuan, reaching 10.176 billion yuan, an increase of 7.82%, mainly focusing on the development and operation of video software, data analysis, mobile platform leisure games and competitive games. At the same time, the digital industry of our province is developing rapidly, and there is a great demand for the import of information services such as financial accounting management platforms and employee office applications in developed countries. The import volume in the first quarter was 21.147 billion yuan, an increase of 333.72%.
Highlight 2: The innovative development of service trade has taken the lead in the country. Recently, two cases of our province’s “new mode of online exhibition and trade services” and “new mode of cross-border e-commerce import B2C package return” were selected as the “best practice cases” of the State Council’s national pilot program for deepening the innovation and development of service trade, and were published and promoted nationwide.
Highlight 3: Service trade has played a positive role in stabilizing employment. Hangzhou and Ningbo alone have more than 480000 employees of service outsourcing enterprises. Service outsourcing plays a prominent role in promoting employment and gathering high-quality talents.
Highlight 4: The digital service trade base has won the national title. At the beginning of this month, Hangzhou Binjiang Internet of Things Industrial Park in our province was awarded the first batch of national digital service export bases. Since last year, the Ministry of Commerce, together with the Central Cyberspace Office and the Ministry of Industry and Information Technology, began to select Binjiang Internet of Things Industrial Park across the country. After a year of evaluation, Binjiang Internet of Things Industrial Park has stood out among many applicants and become one of the first 12 national digital service export bases. This is a concentrated reflection of the high-end and digital service trade structure of Zhejiang Province, and it is also a landmark achievement of Zhejiang Province in recent years to build the “No. 1 Project” of digital economy.
Highlight 5: The ship maintenance service in Zhoushan has grown rapidly, with a year-on-year growth of 333%, which is an important manifestation of the achievements since the third anniversary of the construction of the pilot free trade zone in our province, and also reflects the continuous integration of service trade and national strategy, which has played a better innovative role in the pilot free trade zone.
Highlight 6: Financial services, with a year-on-year growth of 40.58% in exports. The export of Ant Financial reached 730 million yuan in the first quarter, which has become a veritable “leading enterprise” in the financial field of our province. Under the influence of the epidemic, the growth of global cross-border e-commerce has driven the international financial services of our province.
Highlight 7: cultural and entertainment services, with a year-on-year growth of 13.63%. The epidemic has led to a strong demand for new cultural services, represented by animation and games, and has led to the vigorous development of the “housing” economy. I will give two examples of enterprises, NetEase Thunder and Telesoul, whose performance is quite outstanding.
International Business Daily:
How about e-commerce in Zhejiang in the first quarter? Are there any incentives for consumption in Zhejiang?
Fei Danyi, the fourth level investigator of the E-commerce Department of the Provincial Department of Commerce:
Influenced by the epidemic situation, the online retail sales of our province in the first quarter of this year was 313.05 billion yuan, down 1.5% year on year, but more than 10 percentage points higher than that in January and February, better than the growth rate of consumer goods retail sales of 13.2 percentage points; Among them, the online consumption of residents in the province was 152.06 billion yuan, and the online retail surplus was 160.98 billion yuan. There are 669000 active online stores across the province, solving and driving about 6.85 million jobs. The online retail of physical goods in our province accounts for 45.1% of the total retail sales of consumer goods, 21.5 percentage points higher than that of the whole country.
On March 5, the Provincial Department of Commerce and the Provincial Department of Agriculture and Rural Affairs officially launched the “e-commerce campaign to combat epidemic and help farmers accurately” in Hangzhou, organized e-commerce platforms such as Taobao Live, Beidian, Yunji, Shunlian Power, Zebra Members, Pinduoduo, and carried out agricultural product sales activities through online live streaming, social recommendation, and other methods. From April 13 to 26, the total online sales of various agricultural products and processed food reached 27.4165 million yuan (excluding Tmall).
The second “Double Product Online Shopping Festival” was opened yesterday. It was jointly organized by the Ministry of Commerce, the Ministry of Industry and Information Technology, the State Post Office and the China Consumer Association. The theme is “brand consumption, quality consumption”. Production, e-commerce and logistics enterprises have participated extensively, aiming to better stimulate the market vitality and expand consumer consumption. The province has selected five leading e-commerce enterprises, including Alibaba, Netease Strict Selection, Gathering, Beibei Group and Zebra members. At present, all work is progressing in an orderly manner.
According to the work report of Zhejiang Provincial Government in 2020, the key task requirements of “formulating and implementing new digital life service actions and promoting the digitalization of the living service industry” were put forward. After a lot of field research, enterprise discussion and solicitation of opinions from relevant provincial departments and municipal people’s governments, the E-commerce Department took the lead in drafting the Opinions on Implementing New Digital Life Service Actions, which was reviewed and approved by the Standing Committee of the provincial government on April 24, It has been submitted to the Standing Committee of the Provincial Party Committee for deliberation. The new digital life service starts from the daily life of the people and takes the life scene as the logical framework. It covers all aspects of “food, housing, transportation, travel, shopping, entertainment, medical care, education and employment, handling affairs and handling certificates (legal consultation, etc.)”. It presents the main scene of “digital life” in the future and will form the three major fields of digital Zhejiang with the digital economy and digital society.
(Contributed by: Comprehensive Development Division, E-Commerce Division, Service Trade Division)