Domestic and foreign trade make concerted efforts in both directions to save new vitality in economic operation.

CCTV News:Recently, the Ministry of Commerce held a regular press conference, and a spokesperson introduced that this year’s 1-mdash; In July, the actual utilization of US funds in China increased by 25.5% year-on-year, showing the confidence of US-funded enterprises in China’s business environment.

A spokesman for the Ministry of Commerce said that China has always adhered to the basic national policy of reform and opening up, and has always been committed to creating a market-oriented, rule-of-law and international first-class business environment. In order to create a more optimized investment environment for foreign investors, recently, the State Council issued "On Further Optimizing the Foreign Investment Environment"

Opinions on increasing the intensity of attracting foreign investment, put forward 24 policy measures in six aspects, and strive to reduce the burden and increase the vitality of foreign trade enterprises in many aspects.

The number of foreign trade enterprises has increased and their vitality has increased.

Since the beginning of this year, China’s foreign trade has withstood multiple pressures, and under the background of falling demand in the international market, it has generally achieved stable operation, demonstrated strong resilience, and its endogenous motivation has continued to increase.

From the main point of view, the number of foreign trade enterprises has increased and their vitality has increased. The majority of enterprises are the cornerstone of foreign trade development. 1-mdash this year; In July, the number of foreign trade enterprises with import and export performance exceeded 550,000, a year-on-year increase of 5.1%.

From the perspective of the format, the new kinetic energy of foreign trade development has been accelerated. Cross-border e-commerce has maintained rapid development. In the first half of the year, imports and exports increased by 16%, and the proportion of total foreign trade imports and exports rose from less than 1% five years ago to about 5%. There are over 100,000 cross-border e-commerce entities and nearly 700 industrial parks, and new modes such as live e-commerce and social e-commerce are constantly emerging, which has become an important channel for foreign trade enterprises and products to go to sea.

The foreign exchange reserve ratio is lowered again to promote the stability of RMB exchange rate

Recently, due to internal and external factors, RMB exchange rate volatility has intensified. In order to improve the ability of financial institutions to use foreign exchange funds, the People’s Bank of China decided today (September 1) to reduce the foreign exchange deposit reserve ratio of financial institutions by 2 percentage points from September 15, 2023, that is, the foreign exchange deposit reserve ratio will be reduced from the current 6% to 4%. It is estimated that about US$ 16 billion in foreign exchange liquidity will be released in China, which will help to reduce the negative spread between domestic and foreign currencies and promote the stability of RMB exchange rate.

Experts said that adjusting the foreign exchange reserve ratio has always been regarded as a reserve policy in the central bank’s policy toolbox to stabilize market exchange rate expectations. Lowering the foreign exchange reserve ratio can improve the ability of financial institutions to use foreign exchange funds, strengthen the management of foreign exchange liquidity, partially release foreign exchange liquidity, adjust the relationship between supply and demand in the foreign exchange market, and smooth the fluctuation of the foreign exchange market.

Partial time deposit interest ratelower Better support the real economy

Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, China CITIC Bank, Zheshang Bank and other banks have successively announced that they will reduce some time deposit interest rates from September 1st. Experts said that lowering interest rates will help banks better support the real economy.

The two departments jointly issued a document to reduce the interest rate of the first home loan in stock.

On August 31st, the People’s Bank of China and the General Administration of Financial Supervision jointly issued the Notice on Matters Related to Reducing the Interest Rate of the First Home Loan in Stock. After the adjustment of the interest rate of the first commercial personal housing loan, the average decline is 0.8 percentage points, and the financial burden of residents will be significantly reduced. Taking a loan with a term of 1 million yuan and an original interest rate of 5.1% for example, assuming that the mortgage interest rate is reduced to 4.3%, the borrower’s interest rate expenditure can be saved by more than 5,000 yuan per year. Reducing the interest rate of the first home loan in stock will help to reduce the housing consumption burden of residents, promote residents to convert savings into consumption and investment, and boost residents’ willingness and ability to expand consumption.