宏观观察2024年第20期（总第531期）：2024年《政府工作报告》解读之五：如何理解拓展我国中间品贸易新增长点？＊

Trade Growth and Structure - China's processing trade proportion decreased from 41.2% in 2010 to 18.3% in 2023, indicating a shift towards higher value-added products[10] - High-tech products accounted for over 60% of processing trade, with significant growth in six advanced industries, raising their share from 8.6% in 2012 to 34.4% in 2022[11] - Intermediate goods exports reached 11.24 trillion yuan in 2023, making up 47.3% of total exports, maintaining China's position as the world's largest exporter of intermediate goods for 12 consecutive years[14][39] Policy Recommendations - The report emphasizes enhancing the competitiveness of multinational companies and diversifying the resources for intermediate goods trade[48] - It suggests improving financial services for intermediate goods trade, including diversified financing products and foreign exchange risk management[71] - The establishment of a robust logistics network is crucial for facilitating the trade of intermediate goods, with over 76 large ports and a comprehensive transportation network exceeding 6 million kilometers[38] Challenges and Opportunities - Despite the growth, challenges remain in key areas such as semiconductors, where the trade deficit reached $485.35 billion in 2023, highlighting a low domestic self-sufficiency rate[45] - The report identifies the need for differentiated development strategies in intermediate goods trade, leveraging regional advantages to enhance competitiveness[50] - Global geopolitical risks and the trend of "shortening" supply chains pose threats to the growth of China's intermediate goods trade, necessitating strategic adjustments[80]