China must take the initiative for security of its grain imports

China is the world's largest grain consumer, and although its own grain output has remained above 650 million tons for nine consecutive years, its food consumption has seen rigid growth, and food supply and demand have been in a tight balance for a long time. Moderate imports can effectively make up for the structural shortage of the country's domestic grain supply. This explains why strengthening international food security cooperation has been enshrined in the Food Security Law as an institutional arrangement for ensuring food security in China.

Over the years, China has strengthened its voice and bargaining power in the international food trade by diversifying its grain imports and expanding its import sources. On the basis of ensuring basic self-sufficiency in its grain supply and its absolute food security, China has adopted a global perspective in regard to its grain imports, injecting vitality into the sluggish world economy.

China imported 162 million metric tons of grains in 2023, an increase of 11.7 percent on the amount in 2022. "Chinese demand" for grain imports can influence the flow of global food trade to a certain extent, but it still cannot influence international food prices. The fall in international food prices in 2023 is the result of a combination of factors such as lower-than-expected global economic recovery, declining food demand and aggressive interest rate hikes by the US Federal Reserve. As the world's largest grain exporter, the United States controls more than half of the world's grain market, and through international market regulation, data release and guidance of expectations, firmly dominates global grain supply and the pricing of the international grain trade.