Foreign trade business is becoming more and more intensified

Boosting domestic demand is the fundamental measure to effectively deal with the international financial crisis, which also influenced foreign trade business.

Currently, the international financial crisis continues to have a deep impact on the world economy and China’s export growth is slowing as a result of the European sovereign debt crisis and other issues.

It is predicted that the growth of international trade will remain sluggish in 2012. Under such circumstances, to maintain stable and relatively rapid economic growth, it is more urgent than ever to allow domestic demand to play a bigger role in propelling economic growth.

Boosting domestic demand is both a basic requirement of and the top priority for accelerating transformation of the economic development pattern.

After more than three decades of reform and opening-up, China has become the world’s largest exporter with a trade-to-GDP ratio higher than many other countries.

As trade protectionism increases around the world, efforts to expand exports will encounter more and more trade frictions, barriers and obstacles while international competition will become increasingly fierce.

International experience shows that no matter if it is a developed country or a developing country; a large economy can develop by depending mainly on domestic demand.

Therefore, our sustained development must be based on boosting domestic demand.

IBUonline is a tool for developing foreign trade business since the foreign trade business competition is intensified. IBUonline has rolled out paid services to help SMEs to develop overseas markets.