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Last updated at: (Beijing Time) Monday, January 05, 2004

China puts US trade surplus at US$53 billion

China says its politically volatile trade surplus with the United States grew to an estimated US$53.2 billion in the first 11 months of 2003 �� less than half the size of the gap predicted by Washington, according to official figures released Sunday.


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China says its politically volatile trade surplus with the United States grew to an estimated US$53.2 billion in the first 11 months of 2003 �� less than half the size of the gap predicted by Washington, according to official figures released Sunday.

The increase came as China's two-way trade with the United States grew by more than 29 per cent in the same period to US$113.8 billion, according to the figures. China says the United States is its second-largest trading partner after Japan.

US officials say the American trade deficit with China is expected to surpass US$120 billion for 2003.

The American figures include Chinese exports shipped to the United States via Hong Kong �� goods that are excluded from Beijing's own calculations. Hong Kong is Chinese territory, but Beijing treats it as a foreign region for trade and customs.

Beijing has sent two multibillion-dollar buying missions to the United States in recent months in hopes of easing growing political tensions. It has purchased jetliners, soybeans and other goods.

Also, China's two-way trade with Japan grew by nearly 31 per cent in the first 11 months of 2003 to US$119.9 billion, according to the figures released by the General Administration of Customs.

They showed that China ran a US$14.4 billion deficit with Japan during that time.

Source: agencies


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