In response to the impact of Sino-US trade frictions on China's economy in 2018, Mao Shengyong, director and spokesman of the General Statistics Department of National Economy of the National Statistical Bureau, said that the national economy had maintained a steady and progressive development trend in the previous November, and that the impact of Sino-US trade frictions on China's economy was not obvious.
At a press conference held by the State Council Information Office on the 14th, Mao Shengyong said that from the basic situation of China's economic operation in the past 11 months, the main indicators were running smoothly, and the overall performance of growth, employment, price and benefit indicators was good, even better than expected.
Mao Shengyong said that the impact of Sino-US economic and trade frictions on China's economy can be seen from three aspects of data. Growth, from the current point of view, the stable operation of the economy has not changed significantly; prices, especially consumer prices, have maintained a moderate upward trend, affected by last year's weakening, PPI has fallen, prices are generally at a reasonable level; employment is still relatively stable.
Mao Shengyong said that due to the intensification of Global trade protectionism, the trend of world economic development, including the pace of world trade growth, has slowed down, which will inevitably have some impact on China and other countries. If we say that the impact of Sino-US economic and trade frictions may directly affect imports and exports, but now the impact is not great.
Mao Shengyong introduced that there are many factors affecting China's exports. Economically, a country's resource endowment, economic structure, exchange rate, and economic growth of the exporting country or region are all related. "We have done this analysis and found that export-related or most influential is actually the growth of exporting countries and the world economy as a whole." Mao Shengyong said that China now has more and more diversified foreign trade, including the European Union, the United States, Japan, Southeast Asia, BRICs, and the countries along the belt, all of which are important partners in China. In fact, China's import and export situation increasingly depends on the growth of the world economy as a whole, including China's own ability to adapt to and adjust to changes in the world economy.