| Last updated at: (Beijing Time) Thursday, November 15, 2001 |
China's Export Growth Falls |
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According to the latest figures revealed by General Administration of Customs, last ten months saw China's export increase by 6.1 percent as compared with the same period of last year, but a drop of 0.9 percent in comparison with the last nine months. The growth of import witnessed an apparent slowdown with the favorable balance of trade rising dramatically.
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According to the latest figures revealed by the General Administration of Customs, China's volume of exports over the last ten months rose by 6.1 percent compared to the same period last year. However, this was a 0.9 percent drop in comparison with the previous nine months. Import growth witnessed an apparent slowdown but the favorable balance of trade rose dramatically.
Statistics show that gross import value over the last ten months was US$417.83 billion, a rise of 7.9 percent against the same period last year. Export value totaling $217.58 billion, increased by 6.1 percent, and imports totaled US$200.25 billion, an increase of 10 percent. Overall Balance of Trade was US$17.33 billion in the favorable.
China's overall trade performance over the last ten months signaled four trends. Primarily, total imports fell significantly and the favorable balance of trade rose dramatically. Secondly, while imports and exports in general decreased, the processing industry continued to experience steady growth. There was also a marginal increase in the total value of imports. Thirdly, exports to America and Japan fell sharply but exports to Europe continued its climb. Lastly, the performance of traditional mass commodity export was weak, but mechanic and electric products continued their steady growth with total export value exceeding US$ 10 billion for three months on end. Over the past ten months, gross export value of mechanical and electrical products reached US$96.24 billion, an increase of 12.2 percent. This accounted for 44.2 percent of China's total gross export value.
Newly approved foreign-investment enterprises added up to 20,549 over the last ten months, up 17.47 percent against the same period of last year. Amount of foreign investment reached US$55.201 billion, rising by 26.85 percent. Foreign investment capital usage was US$37.253 billion, an increase of 18.63 percent. End October saw approved foreign-investment enterprises amount to 384,894, with contracted foreign capital reaching US$731.919 billion and the actual use of it amounting to US$385.877 billion.
By PD Online Staff Yang Ruoqian
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