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Japanese car sales to China set to recover amid yen fears (2)

(China Daily)

08:52, February 21, 2013

China's exports to Japan climbed to $13 billion in the same month, up 5.9 percent from the same period of the previous year.

JETRO attributed the recovery in bilateral trade to China's rebounding economy.

On Monday, the yen retreated to an almost 33-month low against the US dollar.

The weakened Japanese currency has made Japanese products more competitive compared with those from other Asian countries, JETRO said.

But the impact of a weak yen on China's exports to Japan has raised concerns.

Xinhua News Agency quoted Peng Wensheng, chief economist at China International Capital Corp, as saying that a 20 percent depreciation of the yen against the yuan could lead to a 2.5 percentage point drop in Chinese exports.

Japan has strong demand for smart phones, infrastructure equipment and construction materials imported from China, according to JETRO.


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Email|Print|Comments(Editor:HuangBeibei、Liang Jun)

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