Imports, Exports Show More GainsChina's trade volume continued to climb in April, according to statistics from the General Administration of Customs.The value of exports increased 38.7 per cent from last April to US$20.5 billion, and imports went up 33 per cent to US$18.4 billion last month. China's trade volume in the first four months was US$137.1 billion, up 38.8 per cent from the same period last year. Imports and exports rose by about 40 per cent each to US$64.9 billion and US$72.2 billion in the first four months, with a trade surplus of US$7.3 billion, customs reported. Analysts quoted in news reports attributed this increase in exports to overall improvement in the world's trading environment and especially the economic recovery of neighbouring Asian countries. Exports to Hong Kong, South Korea and Russia stood out in the first four months with increases of 45.3 per cent, 60.3 per cent and 70.8 per cent respectively. Machinery and electronics continue to lead the country's exports, making up 41 per cent of its total over the four months. China exported US$29.4 billion worth of machinery and electronics in the first four months, up 42.4 per cent from the same period last year, customs reported. China's garment and textile industry, which overcame last year's losses to earn net profits of 800 million yuan (US$96.4 million), is also boosting exports. The garment sector exported clothes worth US$10.1 billion in the first four months, up 47.8 per cent from the same period last year. The textile sector contributed US$5 billion to the country's exports, up 32.3 per cent from the same period last year. China's imports of primary products -- such as crude oil, gasoline and minerals -- increased 85.1 per cent in the first four months. The country imported US13.7 billion worth primary products in the same period. China also imported 22.72 million tons of crude oil, up 120 per cent over the first third of 1999. China, running short of oil resources, is becoming a large consumer crude oil from elsewhere. Manufactured industrial products valued at US$51.2 billion make up 78 per cent of the country's imports, up 29.8 per cent from the same period last year. But, despite the statistics, officials of the Ministry of Foreign Trade and Economic Co-operation warned against excessive optimism. They note that this year's growth is based on a low base from last year. |
| Please visit People's Daily Online --- http://www.peopledaily.com.cn/english/ |