According to the General Administration of Customs, China's imports in 1999 grew at a remarkable rate of 18.2 percent, the highest growth since 1994. The total imports reached 165.8 billion US dollars out of a total foreign trade volume of 360.7 billion US dollars. Exports grew 6.1 percent to 194.9 billion US dollars. Imports of both primary products and industrial goods increased. Among the primary products, the imports of timber, paper pulp, crude oil and refined oil increased dramatically. Imports of chemical products, steel and non-ferrous products, machinery, electronic products, and electric appliances also increased. China's imports from its top ten trading partners increased as well. Imports from Australia grew by the largest margin of 33.3 percent. Imports from the European Union increased by 23.2 percent. Import growth rate from Japan, the Association of Southeast Asia Nations (ASEAN), Russia, the Republic of Korea and the United States all topped ten percent. Trade experts say that import increases are due to two leading factors. One is the intensified strikes against smuggling, which resulted in a surge of normal imports. The other is the domestic demand for hi-tech products and industrial raw materials. Trade experts predict that imports will continue to grow this year. |