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The website of the Ministry of Commerce of China recently released the "China Foreign Trade Situation Report (Fall 2012)". The report reviews the operation of China's foreign trade in the first three quarters of 2012, predicts the annual foreign trade situation, and looks forward to the development trend of China's foreign trade in 2013. The report shows that in the first three quarters, the growth rate of import and export has stabilized at a low level, and the “stable foreign trade†measures have achieved initial results. Among them, the proportion of exports of mechanical and electrical products has steadily increased, and the import and export of private enterprises has maintained a good momentum. The report shows that in the first three quarters, the total import and export volume was 2,842.47 billion US dollars, an increase of 6.2%. Among them, exports were 1,495.39 billion US dollars, up 7.4%, down 15.3 percentage points from the same period of the previous year; imports were 1347.08 billion US dollars, up 4.8%, down 21.9 percentage points; trade surplus was 148.31 billion US dollars, up 39.1%. Among them, the proportion of exports of mechanical and electrical products has steadily increased, and the structure of export commodities continues to be optimized. In the first three quarters, the export of mechanical and electrical products was 854.83 billion US dollars, an increase of 8.3%, which was 0.9 percentage points higher than the overall export growth rate in the same period, and the proportion of exports increased from 56.7% in the same period of last year to 57.2%. The export of high-tech products was US$424.06 billion, an increase of 6.4%, of which mobile phones and integrated circuits increased by 18.1% and 46.9% respectively. The export growth of labor-intensive products slowed down. Among them, the export of seven categories of labor-intensive products such as textiles, clothing, furniture, shoes, luggage, plastic products and toys increased by 7%, which was lower than the overall export growth rate of 0.4 percentage points. Exports of “two high and one capital†products continued to decline, and the export volume of coal and refined oil products decreased by 38.6% and 9.8% respectively. The import and export of private enterprises is in good momentum, and the growth rate of general trade continues to be faster than processing trade. Under the guidance of policies and measures to encourage the development of the private economy, the vast number of private import and export enterprises actively adjust the product structure, strive to expand marketing channels, and deepen the development of the international market, and achieve good results. In the first three quarters, private enterprises exported 551.52 billion US dollars, up 19.2%; imports 326.46 billion US dollars, an increase of 18%, respectively, higher than the overall increase of 11.8 and 13.2 percentage points. Foreign-invested enterprises exported US$751.12 billion, up 3.1%; imports were US$648.34 billion, up 1.3%, which were 4.3 and 3.5 percentage points lower than the overall growth rate respectively; exports and imports accounted for 2.1 and 1.7 percentage points respectively. The growth rate of imports and exports of state-owned enterprises dropped significantly, with exports falling by 3.9% and imports increasing by only 0.9%.