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2012 Import promotion
The sovereign debt crisis that broke out from Greece in 2009 spread across Europe in three years. At that time, Portugal, Italy, Ireland, Greece, and Spain were dubbed the "Pigs of Europe (PIIGS)". Affected by Europe, the recovery momentum of the world economy has been frustrated, and the growth rate has slowed down significantly. In the government report in March 2012, the expected target for China's economic growth this year was 7.5%. This is the first time that the target for economic growth has been reduced in eight years. As a result, GDP grew by 7.8% that year. Although it reached the target, it was also the lowest level since 1999.
This year, China’s total exports increased by 7.9% year-on-year, and the growth rate dropped 12.4 percentage points from the previous year. Also in this year, the Chinese government issued the "Guiding Opinions on Strengthening Imports to Promote the Balanced Development of Foreign Trade", which further improved the import promotion policy.
2013 trade in goods exceeded 4 trillion
The world economy remained sluggish this year, but China’s foreign trade set a record: In 2013, China’s imports and exports of goods were 4.16 trillion U.S. dollars, an increase of 7.6%, making it the first country in the world with a total trade volume of more than 4 trillion U.S. dollars, creating the world A miracle in the history of trade development.
