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Home >> Business
UPDATED: 14:35, April 18, 2005
Sino-US trade on farm produces crept up in 2004
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The trade between China and the US on agricultural products experienced slow increase and wide gap in 2004. China bought 5.976 billion worth of farm produces from the US.

The 15.38 percent and 19.39 percent decline of China��s soybean imports from the US, the largest major imports, in terms of volume and value dragged the rise of Chinese imports of agricultural products from the US down to 20 percent of that in 2003.

Imports of wheat and cotton, however, replaced soybean as the driving force for the climb of total imports, which were 13.1 times and 0.85 times as much as that in 2003 respectively.

China's agricultural trade deficit with the US remained wide at more than 2.96 billion USD, albeit a moderate rise of 1.9 percent.

The US as a large producer and exporter of agricultural products has kept putting pressure on china for more imports given China's massive trade surplus in recent years.

This, in addition to China's realistic demands fro bulks of agricultural products, makes more orders for US agro-produces a strategic choice to facilitate the overall Sino-US trade. And trade on agro-produces has thus become increasingly important to leverage the bilateral trade.

After China's WTO accession, the chronic tariff cuts and removal of imports restrictions have all given easier access to American farm products into China market.

Imports of land intensive products are featured with large quantity, tremendous value and fast upswing. In 2004, 70.9 percent of China's imports of agro-products from the US, or nearly 4.24 billion USD, is from soybean, wheat and cotton.

China's exports of horticultural products, tropical crops, oil crops and feedstuff all went up fast at more than 20 percent. Exports of fresh fruit juice even sprung up by 67 percent.

By People's Daily Online


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