一、一季度外贸形势好于预期

一/In the first quarter of the foreign trade situation better than expected

　　一季度，我国对外贸易延续了去年四季度以来的回升势头，实现较快增长，进出口同比增长13.4%，增幅高于去年全年7.2个百分点；其中出口增长18.4%，高于去年全年10.5个百分点；进口增长8.4%，高于去年全年4.1个百分点；贸易顺差430.7亿美元，较去年同期多增428.6亿美元。货物和服务净出口对GDP的贡献提高，贡献率达14.2%，拉动GDP增长1.1个百分点。

In the first quarter,China's foreign trade continued the rally in the fourth quarter of last year,Achieve rapid growth,Import and export growth of 13.4% year-on-year,The growth rate is higher than last year 7.2%;Export growth of 18.4%,10.5% higher than last year;Imports rose 8.4%,4.1% higher than last year;Trade surplus of $43.07 billion,Was more than $42.86 billion over the same period last year.The contribution of net exports to GDP increase goods and services,Contribution rate of 14.2%,Pulling GDP growth of 1.1%.

　　1、出口市场多元化趋势进一步加深

1/Export market diversification trend further

　　一是对美、欧等传统市场出口回暖。一季度，美国经济延续了稳步复苏的势头，中国对美出口较为平稳，增长6.8%，略低于上年水平，美仍为我国第一大出口市场；欧盟部分国家与部分领域经济呈现好转迹象，中国对其出口由降转升，一季度增长1.1%。二是对新兴经济体出口总体延续上年走势，对东盟、俄罗斯、南非等新兴市场出口继续快速增长，增速分别为28%、19.6%和35.5%，对印度、巴西等国家出口保持低速增长，分别增长3.4%和3.7%。三是对部分发展中国家出口呈加速趋势。以阿根廷、埃及等国家为代表的部分发展中国家近期经济表现良好，我国对其出口亦呈现快速增长，增速达到20%-30%。

一是对beauty/o, etc.传统市场出口回暖.In the first quarter,The us economy continued the momentum of steady recovery,China's exports to America are relatively stable,Growth of 6.8%,Level is slightly lower than the previous year,Beauty is the first largest export market;Some eu countries and some areas economy showed signs of improvement,China on the export from fall to rise,In the first quarter growth of 1.1%.2 it is general trends continue the previous year exports to emerging economies,The association of south-east Asian nations (asean)/Russia/南非, etc.新兴市场出口继续快速增长,Growth of 28%/19.6% and 35.5%,In India/巴西, etc.国家出口保持低速增长,Growth of 3.4% and 3.4% respectively.3 it is to some developing countries export accelerating demands.In Argentina/埃及, etc.国家为代表的部分发展中国家近期经济表现良好,Its exports also presents the fast growth of our country,Growth of 20% to 20%.

　　2、进口增长稳步回升

2/Import growth picked up steadily

　　国内经济继续保持温和增长态势，市场需求日趋回暖，进口走势趋于乐观。一季度，进口增长8.4%，其中1-2月累计增长5%，3月增长14.1%，呈加快趋势。受国内基建投资扩张与企业设备更新等因素影响，机电产品、高新技术产品进口增长加快，分别增长14.5%和27%；此外，加工贸易项下进口增长速度回升，一季度增长9.9%，较去年全年提高6.6个百分点，呈现触底反弹走势，预示未来加工贸易出口将可能转暖。但是，由于年初以来，国际大宗商品价格高企，导致我国部分能源和资源性产品进口量减少。

国内经济继续保持温和增长态势,Market demand is warming,Import movements tend to be more optimistic.In the first quarter,Imports rose 8.4%,Among them 1 to 2 month cumulative growth of 5%,In march rose by 14.1%,To speed up the trend.受国内基建投资扩张与企业设备更新, etc.因素影响,Mechanical and electrical products/High-tech products import growth,Growth of 14.5% and 14.5% respectively;In addition,Imported under processing trade growth picks up,In the first quarter growth of 9.9%,Compared with last year increased by 6.6%,Rendering rebound trend,Predict the future of processing trade exports will be warm.but,Because since the start of the year,International commodity prices,In some part of the energy and resource products imports cut.

　　3、出口增长存在一定虚假成分

3/Export growth has certain false composition

　　一季度出口中存在通过转口贸易回流国内，间接推高出口增速。例如，一季度我国对香港出口增长74.2%，显著高于其他地区。这其中不排除部分跨国公司通过香港自由港进行产品集散与分销，以及东部沿海地区将本应销售至中西部地区的零部件或半成品等通过香港进行周转，降低流通税费，同时部分产品还可获得出口退税的优惠。一季度，内地从香港进口国产商品375.1亿美元，增长42.8%，其中便包括以上情况。

In the first quarter出口中存在通过转口贸易回流国内,Pushing the indirect export growth.Such as the,Quarter of China's export growth of 74.2% in Hong Kong,Is significantly higher than other areas.Which does not exclude the part of the multinational company through Hong Kong freeport product distribution and distribution,以及东部沿海地区将本应销售至中西部地区的零部件或半成品, etc.通过香港进行周转,Reduce the circulation tax and fee,At the same time, some products also can obtain export tax rebates.In the first quarter,Domestic goods imported from Hong Kong on the mainland at $37.51 billion,Growth of 42.8%,Including the above situation.

　　二、成本和汇率问题困扰出口企业

二/成本和The exchange rate问题困扰出口企业

　　1、外贸企业成本提高影响出口竞争力

1/The rise in the cost of foreign trade enterprises export competitiveness

　　当前，我国外贸企业经营成本大幅攀升，不仅劳动力成本、资金使用成本、资源环境成本等要素成本上升，物流、仓储、房租等一系列运营成本也上升。此外，还要承担由于国际贸易壁垒加深而导致的高额交易成本。今年一季度共有12个国家对中国发起了2起贸易救济措施调查，涉案金额9.63亿美元。我国相关企业受到误判而发生的经济损失不可弥补，而且由此产生的应诉、诉讼、磋商等成本急剧上升。国际需求不振，国内供给不减，企业通过降低产品价格以价换量促进出口的方式越来越难以奏效。当前，煤炭、棉花、电子元器件、纺纱等行业库存高企，部分企业反映为保证资金周转与维持经营，有时不得不亏本经营。

The current,The our country foreign trade enterprise management costs rise sharply,Not only labor costs/Capital use cost/资源环境成本, etc.要素成本上升,logistics/warehousing/房租, etc.一系列运营成本也上升.In addition,To take as a result of international trade barriers due to the high transaction costs.In the first quarter this year, a total of 12 countries of China has launched two trade remedy investigation,The amount of $963 million.Related enterprises in our country by misjudgment and cannot compensate for economic losses,And the resulting lawsuits/litigation/磋商, etc.成本急剧上升.International demand,Domestic supply,Enterprises by lowering the product price price for quantity export promotion way of getting more and more difficult to work.The current,coal/cotton/The electronic components/纺纱, etc.行业库存高企,Some enterprises in order to ensure the capital turnover and stay in business,Sometimes have to operate at a loss.

　　2、汇率大幅升值增加外贸出口企业经营压力

2/The exchange rate大幅升值增加外贸出口企业经营压力

　　中国经济持续复苏，美、欧、日延续量化宽松政策，发达经济体复苏不确定性依然较大，年初以来人民币升值幅度明显加大，截至3月末，人民币实际有效汇率已连续六个月上涨，涨幅达6.1%。。同时，人民币兑美元汇率不确定性增强，一方面，美国经济向好促进进口加快，贸易逆差增加，美元具有贬值需要；另一方面，美国经济相对好于欧洲和日本，可能导致大量资金回流美国，美元具有升值要求。人民币实际有效汇率升值，将削弱我国产品的价格竞争力，给外贸出口企业经营带来一定压力。

中国经济持续复苏,beauty/o/Continuation of quantitative easing,Recovery of developed economies still have large uncertainty,Since the start of the RMB appreciation increase obviously,By the end of march,人民币实际有效The exchange rate已连续六个月上涨,Up 6.1%..At the same time,人民币兑beauty元The exchange rate不确定性增强,On the one hand,To speed up the American economy to promote imports,Trade deficit with China increased,A dollar depreciation;On the other hand,The U.S. economy is relatively good in Europe and Japan,May lead to a lot of money back to the United States,Has the dollar.人民币实际有效The exchange rate升值,Will weaken the price competitiveness of China's products,Bring certain pressure foreign trade export business.

　　3、存在热钱借外贸进出口形式进入的现象

3/There is hot money borrow in foreign trade import and export

　　今年以来，我国结售汇顺差增加，仅1月我国金融机构外汇占款增量达到6836.6亿元，创下有记录以来的历史最高水平，2月份外汇占款增加2954.26亿元，仍处较高水平;在贸易顺差和FDI净流入相对平稳的背景下，外汇占款主要来自短期资本流入，主要通过在非银行私人部门结汇、企业通过进出口定价转移、地下交易三种渠道。一季度，我国外贸出口增长18.4%，而工业出口交货值仅增长6.2%，低于出口增幅12.2个百分点，而历史上这两个统计数据基本接近，表明当前外贸外资领域存在部分企业价格转移、调入外汇的现象。企业通过高报价卖出，低报价买入，从而调入外汇，推高了外贸出口整体增速，并导致短期外汇占款增加。这从一季度我国对香港、新加坡、伦敦等离岸金融中心的出口增速和进口价格的下降程度上有所反映，应引起高度关注。

今年以来,The written guarantee surplus increase in our country,Only 1 month financial institutions in our country foreign exchange increase of 683.66 billion yuan,Highest level in recorded history,Foreign exchange increase of 295.426 billion yuan in February,Is still at a higher level;In under the background of trade surplus and FDI inflows are relatively stable,Foreign exchange mainly from short-term capital inflows,Mainly through the non-bank private sector settlement/Through transfer pricing of import and export enterprises/Underground trade three channels.In the first quarter,China's foreign trade export growth of 18.4%,And export delivery value rose only 6.2%,Less than 12.2% export growth,The history of these two basic close to statistical data,Indicates that the current foreign trade foreign fields exist some enterprises transfer price/A phenomenon of foreign exchange.Companies with high price to sell,Low price to buy,To transfer into foreign currency,Pushed up the foreign trade export growth as a whole,And lead to increased short-term foreign exchange.The Hong Kong to China from the first quarter/Singapore/伦敦, etc.离岸金融中心的出口增速和进口价格的下降程度上有所反映,Should cause high attention.

　　三、二季度出口有望增长10%，进口增长8%

三/In the second quarter is expected to grow 10%,Imports rose 8%

　　我国外贸面临的外部环境虽然有所好转，但国际市场需求仍然不旺，贸易保护进一步加剧，我国外贸出口高速增长态势难以持续。初步预计，二季度出口增长10%左右，进口增长8%左右，外贸顺差达到1280亿美元。

我国外贸面临的外部环境虽然有所好转,But the international market demand remains tepid,Trade protection is further aggravated,China's foreign trade export high-speed growth cannot last forever.Preliminary estimate,Export growth in the second quarter of 10%,Import growth at around 8%,Foreign trade surplus of $128 billion.

　　1、世界经济缓慢复苏

1/The world economy slow recovery

　　今年以来，世界经济增长仍处于温和复苏阶段，但缺乏实质性增长动力，经济运行中代表性国家情况分化明显。一方面，全球制造业PMI指数连续四个月处于50%以上，向好因素有所累积。美国就业数据回暖，投资运行平稳，房地产市场复苏态势确立，欧洲西班牙、意大利、希腊等多国主权债券收益率下降，对经济担忧情绪有所减弱。另一方面，近期发布的美国、欧盟等发达经济体主要指标不尽如人意。美国3月份零售同比仅增长2.8%，低于上年同期3.7个百分点，环比下降0.4%，同时消费者信心指数回落，财政自动减支计划实施对经济的冲击将在未来几个月逐步体现。欧盟难以摆脱债务危机阴霾，欧元区制造业PMI连续20个月处于50%以下，投资信心指数3、4月份大幅下降，消费者信心指数低位徘徊，工业生产持续回落，塞浦路斯债务危机尚未平息。新兴经济体情况分化，金砖国家增长有所放缓，“迷雾四国”（墨西哥、印尼、韩国和土耳其）以及部分小型新兴经济体增长加速。IMF春季报告将全球经济增长预测下调至3.3%，仅比上年微增0.1个百分点。

今年以来,The world economy is still in the modest recovery phase,But the lack of substantial growth,Economic operation situation in typical countries differentiation is obvious.On the one hand,The global manufacturing PMI for four months in a row at more than 50%,Positive factors are cumulative.Us jobs data recovery,Investment in stable operation,The real estate market recovery was established,Europe Spain/Italy/希腊, etc.多国主权债券收益率下降,To the economic worries.On the other hand,Recently released by the United States/o盟, etc.发达经济体主要指标不尽如人意.March retail sales grew 2.8% year-on-year in the United States,Less than 3.7% from a year earlier,Dropped 0.4%,While consumer confidence index fell back,Implementation of automatic fiscal spending cuts of the impact on the economy will gradually over the coming months.The eu is difficult to get rid of the debt crisis in the haze,Eurozone manufacturing pmis for 20 consecutive months at less than 50%,Investment confidence 3/Fell sharply in April,Consumer confidence is low,Industrial production continues to fall,Cyprus's debt crisis has not subsided.Emerging economies are divided,The brics countries growth has slowed,"The fog the four countries"(Mexico/Indonesia/South Korea and Turkey)And some of the smaller emerging economies growth acceleration.The IMF spring report to global economic growth forecast to 3.3%,Only increased by 0.1% over the previous year.

　　2、部分外贸先行指数表现平稳

2/Part of the foreign trade leading index smooth performance

　　年初以来，反映国际间贸易情况的重要领先指数——波罗的海干散货指数呈现小幅上行走势。我国对主要贸易伙伴航运情况分化，欧洲方面，由于欧盟失业率不断上升挫伤居民消费意愿，货运量需求总体表现疲软，主要航运商自上海出口至欧洲基本港平均舱位利用率维持在75%左右；北美方面，货运量缓慢回升，华东地区美西、美东船舶舱位利用率维持稳定，分别为80%、85%左右，华北地区分别为85%、90%左右；地中海方面，平均舱位利用率维持在85%左右；南美方面货运量也有所下滑。一季度，全国规模以上港口货物吞吐量、外贸货物吞吐量、集装箱吞吐量等主要指标保持较快增长，但3月份增速较1、2月有所放缓。此外，我国出口经理人指数连续回升，2月份较1月份提高0.7个百分点，3月份与2月持平，其中新增出口订单指数、出口信心指数均略有上升。出口货运指数与出口信心指数好转预示上半年出口形势将继续改善。

年初以来,Reflect the international trade is an important leading index, the Baltic dry index has a slight upward trend.For a major trading partner for shipping in China,In Europe,With unemployment rising damp down from the European Union residents' willingness to spend,Freight demand is weak as a whole,Major shippers from Shanghai port of export to Europe basic space utilization rate around 75% on average;In North America,Freight slow rebound,The beauty of the west in east China/Stability of the eastern shipping space utilization,80%, respectively/About 85%,In north China were 85%/About 90%;In the Mediterranean,Space utilization rate around 85% on average;In South America in terms of volume is down.In the first quarter,The above port cargo throughput in the whole country/Foreign trade cargo throughput/集装箱吞吐量, etc.主要指标保持较快增长,But growth is 1 March/February has slowed.In addition,Our export managers index for pick up,In February than in January increased by 0.7%,In February and march,The new export orders index/Export confidence index rose slightly.Confidence improved indicated in the first half of the freight index and export exports will continue to improve the situation.

　　3、劳动密集型产品出口将有所减慢

3/Labor-intensive products exports will slow down somewhat

　　尽管一季度劳动密集型产品出口迅速拉升，但这一趋势不可持续。首先，美国财政赤字自动削减计划开始实施，对经济负面影响逐步显露，其零售消费环比增速已经下降，消费信心指数滑落，预计未来几个月消费增长以平稳波动为主，难以出现显著转机；欧盟经济短期继续呈现衰退走势，消费长期低迷，需求不足导致贸易保护倾向加重，对中国部分劳动密集型产品反倾销力度加大。其次，由于人民币汇率不断攀高，劳动密集型产品出口成本持续增加。研究表明，我国劳动密集型产品出口利润空间为3%-5%，企业仅为微利经营，汇率因素将进一步挤压企业收益，削减劳动密集型产品价格竞争力。2013年春季广交会数字显示，部分附加值低、国际竞争激烈、可替代性强的劳动密集型产品出现萎缩。初步预计二季度劳动密集型产品出口增速将回落至20%以下。

尽管In the first quarter劳动密集型产品出口迅速拉升,But this trend is unsustainable.First of all,The U.S. fiscal deficit reduction plan initiated automatically,Negative economic impact gradually revealed,Their retail spending year-on-year growth has fallen,Consumer confidence index fell,Consumption growth in the next few months give priority to in order to smooth fluctuations,Difficult to dramatically change;The eu economic short-term trends continued recession,Long-term downturn in consumption,Demand lead to protectionist tendencies,It has also intensified its efforts on the part of China's labor-intensive products anti-dumping.The second,由于人民币The exchange rate不断攀高,Labor-intensive products export costs continue to increase.Studies have shown that,China's labor-intensive products export profit margins of 3% to 3%,Business is only small profit,The exchange rate因素将进一步挤压企业收益,Cuts in labor-intensive products price competitiveness.In the spring of 2013 digital display in the Canton fair,Low value-added part of the/International competition is intense/Alternative of labor-intensive products appear to shrink.Preliminary estimate in the second quarter of labor-intensive products export growth will fall below 20%.

　　4、中国参与世界双边多边贸易体系将受到一定阻碍

4/China's participation in bilateral multilateral trade system will be subject to certain obstacles to the world

　　近期，美国和欧盟自由贸易协定谈判加快推进，如果达成协议，将建成全球规模最大的自由贸易区，同时美国积极推进跨太平洋[1.07% 资金 研报]经济伙伴关系协定（TPP）谈判，日本等国积极加入，而中日韩自贸区谈判却因政治因素进展缓慢，我国贸易环境有所恶化。2011年以来，欧盟从中国的进口增速开始持续低于欧盟整体进口增速，中国在欧盟进口中的份额开始回落，在美国和日本的进口份额中近期也出现下滑，这与贸易保护主义盛行有一定关系。

近期,The United States and the European Union free trade agreement negotiations was accelerated,If a deal,The world's largest free trade area will be established,At the same time, America actively promote the trans-pacific [1.07% money Research report] economic partnership agreements(The TPP)negotiations,日本, etc.国积极加入,And China, Japan and South Korea free trade area negotiations but slow progress due to political reasons,Our trade environment deteriorated.Since 2011,The eu from China's import growth remains below the eu import growth overall,China's share in the eu imports fell,The share of imports in the United States and Japan in recent also fell,With the prevalence of trade protectionism has certain relations.

　　5、国内需求回升有助于进口增速企稳

5/Recovery in domestic demand will help import growth is stabilizing

　　当前我国经济发展正处于转变发展方式的关键阶段，追求发展的质量和效益成为重要方向。一季度，我国工业企业去库存过程接近尾声，但此前预计的“库存回补”进展非常缓慢，目前工业生产者购进价格指数（PPIRM）与工业生产者出厂价格指数（PPI）仍然为负，预示二季度库存回补动力偏弱，工业仍将保持平稳增长。此外，二季度投资需求在基建投资高企和制造业投资回升支持下将维持较快增速，消费需求在就业与收入稳步提高的支持下将稳步增长，进口需求将逐步回升。此外，受全球资源需求下降和美元升值影响，CRB商品指数震荡走低，以黄金为引领的国际大宗商品价格出现下跌，有利于我国初级产品与大宗商品进口，预计二季度能源、资源等产品进口将出现恢复性增长。

The current我国经济发展正处于转变发展方式的关键阶段,The pursuit of quality and efficiency of development become an important direction.In the first quarter,Our country industrial enterprise to inventory process comes to a close,But had expected"Inventory to cover"Progress is very slow,The price of industrial producers buy index(PPIRM)And the producer price index(PPI)Still have a negative,Indicated in the second quarter inventory covering power is weak,Industry will continue to maintain steady growth.In addition,In the second quarter of high demand for investment in infrastructure investment and manufacturing investment recovery support will maintain rapid growth,Consumer demand in the employment and income increase steadily with the support of a steady growth,Import demand will gradually recover.In addition,Affected by the global demand for resources decrease and the dollar,The CRB commodity index shock slump,以gold为引领的国际大宗商品价格出现下跌,Is conducive to China's primary products and commodity imports,Is expected in the second quarter of the energy/资源, etc.产品进口将出现恢复性增长.

　　四、推动人民币互换，强化资本流动监管

四/To promote the yuan swap,Strengthen the capital flow regulation

　　1、完善外贸企业发展的政策环境

1/Perfect the policy environment for the development of foreign trade enterprises

　　一是努力降低企业外贸运营成本。企业承担的劳动力、土地、环境等要素成本具有刚性，难以通过政策减负消化。下一步可考虑将政策重点放在降低企业交易与运营成本上，减少对外贸企业的审批环节，清理不必要税费，降低企业行政费用支出，同时加强外贸信息平台建设，建立国际贸易资讯系统，帮助企业规避贸易风险，加强多边和双边谈判，减少贸易壁垒给企业带来的损失。二是引导外贸企业重视产品质量，提升自身技术和管理水平。推动企业不断提升出口产品质量，提高出口产品附加值与技术含量，扶植本土具有影响力的自主品牌，通过财税金融优惠增强企业创新与研发动力。

一是努力降低企业外贸运营成本.The enterprise bear the Labour force/land/环境, etc.要素成本具有刚性,Is difficult to through policy during the digestion.Can consider next cut policy emphasis on corporate transactions and operations costs,To reduce the approval link of foreign trade enterprises,Clean up unnecessary fees,Reduce the enterprise administrative expenses,At the same time to strengthen the construction of information platform of foreign trade,International trade information system is established,Help enterprises to avoid trade risks,Strengthen the multilateral and bilateral negotiations,To reduce barriers to trade brings to the enterprise loss.2 it is to guide foreign trade enterprise attaches great importance to the quality of the product,To improve its technical and management level.Facilitate the export of enterprises continuously improve the quality of the product,Improve export product value-added and technology content,Cultivate local influential independent brands,Through taxation preferential strengthen enterprise financial innovation and research and development power.

　　2、推进人民币互换进程

2/The process of currency swap

　　在人民币尚未实现自由兑换的情况下，由于近期汇率升值压力偏大，出口企业面临的汇兑风险增强，建议下一步积极扩大人民币互换规模；推进与法国、英国等具有货币互换倾向国家的谈判进程，积极拓展与世界其他国家货币互换范围；同时扩大人民币结算范围，尽量降低汇兑风险；加快推动小型经济体货币与人民币挂钩；进一步推进人民币国际化步伐，从而推动人民币在境外实现计价、结算和储备的职能；提升人民币国际接受程度，维护金融稳定，促进国际收支平衡，降低外汇储备。

在人民币尚未实现自由兑换的情况下,由于近期The exchange rate升值压力偏大,The exchange risk to enhance export enterprises,Recommended that further expand the scale of RMB exchange actively;Advance with France/英国, etc.具有货币互换倾向国家的negotiations进程,Actively expand scope of currency swaps with other countries in the world;At the same time expanding the scope of the yuan,As far as possible reduce the exchange risk;Promote small economies currency pegged to the yuan;To further promote the pace of yuan internationalization,So as to promote the yuan in foreign currency/The function of settlement and reserve;Improve the international acceptance,Maintaining financial stability,To promote the balance of payments,Reduce foreign exchange reserves.

　　3、加强对短期资本流动监管

3/Strengthen the regulation of short-term capital flows

　　一是建议有关部门对跨境资本流动进行相关调研与核查，防范短期套利资本通过外贸进出口、跨国公司内部交易、商业信用等渠道进行资金转移，加强对经常项目外汇收支活动与实际贸易行为的真实性和一致性的核验，完善贸易收结汇和贸易信贷管理。二是根据外汇占款变化、市场资金需求变动等方面的需要，通过灵活运用正回购、逆回购等公开市场操作工具，保持银行间市场流动性合理适度。三是完善外汇市场制度建设，加快汇率机制改革步伐，推进汇率市场化步伐。

一是建议有关部门对跨境资本流动进行相关调研与核查,To prevent short-term arbitrage capital through foreign trade import and export/Multinational company internal trade/商业信用, etc.渠道进行money转移,Strengthen the current-account trade foreign exchange revenue and expenditure activity and the actual behavior of the authenticity and consistency check,Improve the trade settlement and trade credit management.The second is according to the changes in foreign exchange/市场money需求变动, etc.方面的需要,Through the flexible use of repurchase/逆回购, etc.公开市场操作工具,Keep the reasonable moderate interbank liquidity in the market.3 it is to improve the foreign exchange market system construction,加快The exchange rate机制改革步伐,推进The exchange rate市场化步伐.

　　4、扩大资源能源等大宗产品进口

4/扩大资源能源, etc.大宗产品进口

　　在国际大宗商品价格出现下跌的情况下，积极扩大能源、农产品[0.55% 资金 研报]等大宗商品进口，尽量减轻国际货币超发带来的输入性价格上涨。一是扩大黄金进口，提高外汇储备中的黄金储备比重，促进储备多元化；二是扩大原油、铁矿石等初级产品进口，并逐步健全能源、资源储备体系，以应对国际大宗商品价格波动带来的风险；三是稳步推进农产品、粮食等商品进口，作为部分农产品的主要进口国，加强与重点出口国贸易合作，开展大宗商品直接贸易，提高相关产品国际定价能力。

在国际大宗商品价格出现下跌的情况下,Actively expand energy/Agricultural [0.55% money 研报], etc.大宗商品进口,As far as possible reduce the price of imported from international monetary super hair up.一是扩大gold进口,提高外汇储备中的gold储备比重,Promote diversification;二是扩大The crude oil/铁矿石, etc.初级产品进口,And gradually improve the energy/Resource reserve system,To cope with the risks of international commodity price fluctuations;3 it is to steadily push forward agricultural products/粮食, etc.商品进口,As part of a major importer of agricultural products,To strengthen key exporter trade cooperation,Carry out commodities trade directly,Improve international pricing power related products.