Surplus Trade Growth

Related entries: Economy, General, News, Trading

China’s General Administration of Customs has announced first quarter trade figures:

• Total trade value was US$156.79 billion
• Exports were up 26.6 percent year on year, reaching US$197.3 billion
• Imports were up 24.8 percent year-on-year, reaching US$174 billion
• China’s trade surplus was US$23.2 billion.

The trade surplus remained a contentious political issue for the US, but some progress was made in April, prior to Hu Jintao’s US visit, at the annual meeting of the Joint Commission on Commerce and Trade. At the meeting it was agreed that China would:

• Lift its ban on US beef
• Crackdown on pirate software (including a requirement for computers to be pre-loaded with legal software)
• Allow direct sales companies such as Avon to re-start operations
• Allow foreign firms to compete for Chinese contracts.

See news sources:

    China’s trade surplus of 23.3 billion US dollars in first three …
    Xinhua – China
    BEIJING, April 12 (Xinhua) — China’s total trade surplus stood at 23.3 billion US dollars for the first three months of this year, said sources with the …

    US and China reach deals to cut trade gap
    International Herald Tribune – France
    WASHINGTON The United States has won a string of commitments from China aimed at narrowing a record trade gap, but US industry groups said the real test could …

    China set to open markets to US
    Financial Express – Bombay,India
    APRIL 12: China made several concessions to US trade demands, agreeing conditionally to lift its ban on US beef imports, open up its telecommunications and …

One Response to “Surplus Trade Growth”

  1. Archive » Trading Up Thew Value Chain| China Business Blog Says:

    […] Value Chain Related entries: General, Trading, Research While China’s export growth has continued to be strong, its make-up is changing. I noted recently that most of […]

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