To stabilize foreign trade, we need to give full play to the role of private enterprises as the main force. Opinions of the Central Committee of the Communist Party of China and the State Council on Promoting the Development and Growth of the Private Economy

"Encourage the improvement of international competitiveness" and "Encourage private enterprises to expand overseas business" - these are the clear requirements proposed in the recently released "Opinions of the Central Committee of the Communist Party of China and the State Council on Promoting the Development and Growth of the Private Economy". This programmatic policy document, which has the highest standard and most authoritative support from the Party Central Committee for the development of the private economy in recent years, has released a strong policy signal to support the private economy.

Since the 18th National Congress of the Communist Party of China, the Party Central Committee and the State Council have attached great importance to optimizing the development environment of private enterprises, strengthening the confidence of private entrepreneurs in their development, and promoting high-quality development of the private economy. Private enterprises have steadily increased their foreign trade development and have become the main force in China's foreign trade development for four consecutive years. In 2019, private enterprises surpassed foreign-invested enterprises in import and export for the first time, becoming the largest foreign trade entity in China; In 2022, private enterprises accounted for 50.9% of China's total import and export value, exceeding 50% for the first time. In the first half of this year, China's total import and export value of goods trade was 20.1 trillion yuan, of which the total import and export value of private enterprises was 10.59 trillion yuan, a year-on-year increase of 8.9%. The proportion of private enterprises in China's total import and export value continued to remain above 50%, rising to 52.7%.

The main role of private enterprises in stabilizing foreign trade growth is reflected in various aspects. Firstly, through market and product adjustments, promote stable development of foreign trade. While maintaining traditional markets in Europe and the United States, private enterprises are constantly exploring emerging markets such as ASEAN, countries related to the "the Belt and Road", Latin America and Africa. This is beneficial for reducing the impact of individual market fluctuations on total trade and enhancing the risk resistance of import and export markets. Many private enterprises also adjust their import and export products in a timely manner according to changes in market demand, optimize the structure of import and export commodities, expand from traditional industries to emerging industries, focus on cultivating independent brands, and gradually move from the low end of the value chain to the high end, continuously improving international competitiveness.

Secondly, through the practice of "digitalization", empower the innovative development of foreign trade. In response to the wave of digital economy, many private enterprises have adopted technological innovation to create modern manufacturing models that are clean in production, automated in equipment, and informationized in management. While reducing operating costs, they have significantly improved production efficiency, product quality, yield, and energy utilization. The demonstration effect and competitive effect brought by the increase in high-quality product exports by private enterprises, in turn, stimulate domestic enterprises to increase investment scale and research and development expenditure, laying the foundation for the sustainable development of private enterprise exports.

Thirdly, create new opportunities for foreign trade development through e-commerce platforms and exhibition platforms. Cross border e-commerce and other new formats provide new platforms and channels for private enterprises to directly participate in international trade, and more and more private enterprises are using digital platforms to sell domestic advantageous products to foreign markets. Exhibitions such as the CIIE, Canton Fair, and Consumer Expo also provide opportunities for private enterprises to engage with foreign enterprises, increase the possibility of cooperation, and expand the construction of international trade channels for private enterprises.

However, some private enterprises still face many difficulties and problems in their business development, such as obstacles in participating in market competition, difficulty in financing, and low degree of digital transformation. To stabilize foreign trade, the key is to actively play the role of private enterprises. To this end, we must continue to create a favorable development environment for private enterprises, help them solve the difficulties they face in development, support enterprise reform and development, turn pressure into power, let the innovation source of the private economy flow fully, and unleash creative vitality, stabilizing the foreign trade development of private enterprises and their position as the main force of foreign trade.

In order to promote private enterprises to better develop foreign trade, first, encourage enterprises to participate in various domestic and foreign exhibitions, deepen the international cooperation of the "the Belt and Road", participate in the pilot free trade zone, Hainan Free Trade Port, and overseas economic and trade cooperation zone, and gain greater development space by integrating into China's major platforms and major development strategies. The second is to actively develop new formats and models, explore new development channels through cross-border e-commerce, market procurement and trade, and create new growth points for foreign trade. Encourage enterprises to use emerging technologies such as big data, cloud computing, and artificial intelligence to promote the digital transformation of the entire industry chain, including production, circulation, operation, and management, and accelerate the collaborative transformation of upstream and downstream industries and supply chains, as well as large, medium, and small enterprises. The third is to provide sufficient element support for the development of private enterprises in terms of funds, technology, land, talent, qualifications, etc., break down ownership discrimination and implicit barriers, clean up and abolish unreasonable regulations related to the nature of the enterprise, create a fair competition market environment, and further enhance the confidence of private enterprise development. The fourth is to further improve the diversified financing models required for the development of private enterprises, and create more convenience for their financing. In terms of direct financing, further leverage the role of the capital market in supporting the development of private enterprises; In terms of indirect financing, we will continue to encourage financial institutions to increase their fee reduction and profitability.