With the flourishing of digital technology and the in-depth development of economic globalization, international trade presents many new features and trends.

First, small and medium-sized enterprises (SMEs) have become a new force in international trade. Enterprises are the mainstay of trade. Although the number of SMEs accounts for the majority of the total number of enterprises in any country, the internationalization participation of SMEs is low, and large enterprises have long dominated international trade. However, in recent years, with the deepening of the division of labor in global value chains (GVCs) and the strengthening of the penetration of digital technology into trade, SMEs have become a new force in international trade by entering international markets through participation in GVCs and cross-border e-commerce. The share of SMEs participating in global value chains in most economies has continued to increase, and there has been a new trend of universalization of the main body of international trade. This trend is also more obvious in the development of China’s foreign trade.

Secondly, digital trade and green trade have become new highlights of international trade growth. The penetration of digital technology into international trade, represented by 5G, artificial intelligence, big data, 3D printing, the Internet of Things and blockchain, has changed trade objects, trade modes and trade scales, and the purchase of products and services by means of digital ordering and digital delivery has promoted the rapid development of digital trade. At the same time, countries have increased their efforts to address climate change and reduce emissions and accelerated the development of green industries, which has also promoted the development of green trade with environmental products and services as the object of trade.

Third, the rapid development of trade in services. In the past, due to the non-tradability of services such as education, medical, legal and consulting services, the industrial structure dominated by the service industry did not lead to the formation of a trade structure dominated by trade in services, and the share of trade in services in international trade has been relatively low. In recent years, the development of digital technology has broken through the limitations of non-tradable services, and with the rapid advancement of global liberalization of trade in services, the growth rate of trade in services has gradually exceeded that of trade in goods.

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