Professional & Reliable sourcing agent company

China-ASEAN trade is now surplus to ASEAN's largest source of imports

 

China Network July 23 hearing Chinese Vice Minister of Commerce Gao Yan today at the China - ASEAN strategic partnership and the 10th anniversary conference, said that China and ASEAN bilateral trade surplus with, is built with many countries of ASEAN free trade area after caused trade diversion occurs. She also said that China will take active measures to expand imports from ASEAN countries.
 
23 State Council Information Office held a press conference, Vice Minister of Commerce Gao Yan, China CCPIT Vice Chairman Yu Ping, Guangxi Zhuang Autonomous Region Vice Chairman Zhang Xiaoqin introduced China - ASEAN strategic partnership to establish economic and trade cooperation and other aspects of the 10th anniversary of the situation and answered reporters' questions .
 
The first half of this year the trade volume between China and ASEAN reached $ 210 billion, of which $ 114.7 billion of imports, exports 95.86 billion U.S. dollars. China has a large trade surplus from years into surplus.
 
Gao Yan said, there are a large number of long-term China-ASEAN trade deficit, the trade deficit accounts for about 15% of the bilateral trade volume. In individual years, even up to more than 20%. 2003 and 2004, China's trade deficit was $ 16.4 billion, respectively, and $ 20.1 billion, respectively, total bilateral trade accounting for 21% and 19%. 2011, when China's trade deficit with $ 22.7 billion, accounting for 6.3% of the year the bilateral trade volume. China is such a perennial deficit situation by 2012 was able to be changed. Last year, China - ASEAN bilateral trade volume was $ 400.1 billion, of which China exported $ 204.3 billion, imports $ 195.8 billion. China's trade surplus was $ 8.5 billion. The bilateral trade surplus accounted for 2%. Can be said that bilateral trade is roughly in balance. China had a surplus situation that from 2012 began to happen, but accurate to say that, in fact, from the second half of 2012 began to appear.
 
Gao Yan said China has always advocated the basic balance of international payments. When the trade imbalance between China and ASEAN countries are also built with many countries of ASEAN free trade zone after the occurrence of trade diversion caused, which is a result of our analysis. Previous ASEAN's largest source of imports in Japan, and now it is the largest source of imports into China. Previous ASEAN is China's largest export destination, has now become a Japanese. Of course, China will take active measures to expand imports from ASEAN countries.
 
"We are considering this, one is to promote and strengthen ASEAN customs cooperation in the field of quality control, etc., to improve the level of trade facilitation. Second is to actively promote the country's exports of agricultural products on a timely manner we will send delegations to ASEAN countries to carry out trade and investment promotion activities. three is to take advantage of China - ASEAN Expo and various exhibition opportunities for ASEAN exports to China to showcase business opportunities, provide convenience, but also hope that the ASEAN side of each enterprise to take full advantage of these opportunities to promote their superior products to expand exports to China, "Gao Yan said. (China Network Financial Center)
Guangzhou Dechun Trade Ltd. Company
Guangzhou Dechun Trade Ltd. Company