China Posts 25% Growth in Foreign Trade in January

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Last updated at: (Beijing Time) Sunday, February 10, 2002

China Posts 25% Growth in Foreign Trade in January

China exported and imported 40. 67 billion U.S. dollars worth of goods in the first month of this year, up 25.7 percent over the same period last year, according to the latest Customs figures.

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First month's foreign trade rose

Overall exports reached 21.7 billion U.S. dollars while total imports were valued at 18.97 billion U.S. dollars, up 29.2 percent and 21.9 percent, respectively, with a 2.73 billion U.S. dollars trade surplus.

Trade experts say the real growth rate for the country's foreign trade in January of this year would have been about 10 percent considering a smaller comparative base in January of 2001, during which the Chinese were busy celebrating their lunar New Year.

The week-long Chinese lunar New Year holiday, the most important festival in China, began on January 24 last year, but will begin on February 12 this year. This makes a big difference in foreign trade volume.

Exports and imports

According to the statistics released by the country's Customs, China has recorded a rapid increase in general trade exports and a stable increase in imports.

Exports

A total of 17.47 billion U.S. dollars in general trade exports was recorded in January, an increase of 21.5 percent over the same month of last year.

China's exports to its major trade partners the United States, Japan and European Union grew by 26 percent, and machinery and electronic goods accounted for 45.5 percent of total exports.

Imports

China's imports of cereal and related products rose to 420,000 tons, 210 percent higher than the same period last year, while its imports of steel and cars grew by 38.9 percent.

Overseas-funded businesses remain the mover of the country's foreign trade with their foreign trade totaling 20.99 billion U.S. dollars in January, up 31 percent, accounting for about 51.6 percent of the country's total, up from 49.4 percent during the same period last year.

China to Strive to Export More in 2002: Trade Minister

China will work to maintain next year's foreign trade at this year's level while trying to increase export, Chinese trade minister Shi Guangsheng said Thursday in Beijing.

The total import and export this year is expected to hit a new high at 500 billion U.S. dollars, a year-on-year increase of seven percent, Shi said at an annual national work conference on foreign trade which close here Thursday. Full Text

East China Province Registers US$3.6 Billionin Foreign Trade

East China's Anhui Province registered 3.62 billion U.S. dollars in foreign trade last year, up 8.2 percent.

A provincial foreign trade official said the inland agricultural province ranks 11th in the volume of foreign trade among the 30 provincial areas on the Chinese mainland and Hainan Province, according to statistics released by the Ministry of Foreign Trade and Economic Cooperation. Full Text

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East China Province Registers US$3.6 Billionin Foreign Trade

China's Foreign Trade to Top US $ 500 Billion

East China Province Registers US$3.6 Billionin Foreign Trade

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