China's Imports Up RemarkablyChina imported an unprecedented amount of commodities in the year 2000, with total imports valued at 225.1 billion, up 35.8 percent from the year 1999, latest statistics from the General Administration of Customs show.Among the major imported items were primary goods, electric products and machinery, hi-tech and new technology products, plastics, fertilizer, rolled steel and copper. The amount of imported primary goods reached US$46.7 billion, up 74.1 percent. That was a result of the surging demand from China's fast growing national economy, analysts say. The country's gross domestic product (GDP) grew eight percent from a year ago. China imported 70.27 million tons of crude oil last year, up 91.9 percent. The imported oil was valued at US$14.9 billion, 2.2 times the figure of 1999. In addition, the country imported 10.40 million tons of beans last year, 1.4 times the figure for 1999. The beans were valued at US$2.3 billion, 1.6 times the figure for 1999. Among the industrial goods imports, the value of electric products and machinery were US$102.9 billion, up 32.6 percent. The value of hi-tech and new technology products US$52.5 billion, up 39.7 percent. The customs figures also show that Japan was the largest source of China's imports last year. China imported US$41.5 billion worth of Japanese goods, up 22.9 percent. Other major sources of imports following Japan were the European Union, China' s Taiwan Province, the Republic of Korea and the United States. China's imports from Canada increased by the largest margin of 60.7 percent among the top 10 trade partners of China, although the value of imports stood at US$3.75 billion. Analysts attributed the increase of China's imports to the country's growing economy and its promises to import more in bilateral agreements concerning the China's entry into the World Trade Organization. |
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