China now EU's biggest import market

China replaced the US as the largest exporter to the European Union in 2006. According to the Chinese Ministry of Commerce, the EU imported 135.6 billion Euros worth of goods between January and December 2006, 4.6 billion Euros more than from the US.

According to statistics from China Customs, between January and December 2006, the value of bilateral was US$72.3 billion, up 25.3 percent from 2005 and making up 15.5 percent of the total value of China's foreign trade.

The EU is China's most important source of foreign capital. Throughout 2006, the EU invested 2,738 projects in China, with the contract value amounting to US$10.58 billion, and the realized value of US$5.39billion. By December 2006, the EU had accumulatively invested in 25,418 projects in China, with the contract value reaching US$97.95 billion, and the realized value US$53.18 billion, making up 8 percent of the amount of foreign capital actually introduced to China.

The European Union is China's biggest source of technology imports, and as of the end of last year, China had signed 24,108 technology contracts with EU member countries valued at US$98.66 billion.

By Peaple's Daily Online



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