The De­cline of Im­ports Nar­rowed

China's Foreign Trade (English) - - Contents -

China’s for­eign trade in the first two months of 2016

Ac­cord­ing to Cus­toms fig­ures, China’s to­tal im­port and ex­port in the first two months of 2016 reached 3.31 tril­lion yuan, down 12.6% year on year (the same be­low). In terms of the U.S. dol­lar, the to­tal im­port and ex­port reached US$510.73 bil­lion, down 17.4%. In Fe­bru­ary alone, the to­tal im­port and ex­port was US$1.43 tril­lion, down 15.7%. Among which, the ex­ports was 0.82 tril­lion yuan, down 20.6%; the im­ports was 0.61 tril­lion yuan, down 8%; trade sur­plus reached 209.5 bil­lion yuan, down 43.3%. In terms of the U.S. dol­lar, the to­tal im­port and ex­port of Fe­bru­ary was US$219.7 bil­lion, down 20.8%.The main char­ac­ter­is­tics of for­eign trade are as fol­lows:

1. Ex­ports dropped a lot, while the de­cline of im­ports nar­rowed. In Fe­bru­ary, the growth of China’s ex­ports de­clined sub­stan­tially, which was not only caused by the down­turn of ex­ter­nal de­mand, but also re­lated to the fac­tor of high base over the same pe­riod last year. This Jan­uary, the pub­lished data of the im­ports from 35 economies (ac­counted for 70% of global im­ports) fell 13.9%. Be­sides, China’s ex­ports in Fe­bru­ary of 2015 reached 1035.22 bil­lion yuan, the high­est num­ber since 2009, form­ing a larger base. The su­per­po­si­tion of mul­ti­ple fac­tors cre­ated this kind of sit­u­a­tion — the de­creas­ing am­pli­tude of ex­ports ex­panded by 13.9 per­cent­age points com­pared to last month. Dragged down by the com­mod­ity prices, the neg­a­tive growth of im­ports con­tin­ued, but nar­rowed 6.7 per­cent­age points. Ex­clud­ing price fac­tors, the ex­ports in Fe­bru­ary fell by 19.7%, and the im­ports rose 1.7%.

2. Ex­ports with ma­jor trad­ing part­ner coun­tries de­clined, im­ports from BRICS dif­fer­en­ti­ated clearly. In Fe­bru­ary, ex­ports with the United States, Ja­pan and the Euro­pean Union de­creased 18%, 14.8% and 14.7%, the de­cline from the pre­vi­ous month ex­panded 13, 14.3 and 7.3 per­cent­age points re­spec­tively. Im­ports from BRICS (China, Brazil, Rus­sia, In­dia, South Af­frica) dif­fer­en­ti­ated clearly, among which, im­ports from Brazil and Rus­sia in­creased 19% and 0.1%, im­ports from South Africa and In­dia were down 19.1% and 17.8%.

3. The neg­a­tive growth of pro­cess­ing trade con­tin­ued, the pro­por­tion of other trade in­creased. In Fe­bru­ary, the im­port and ex­port of gen­eral trade was 789.2 bil­lion yuan, down 17.6%, of which ex­ports fell 24%. The im­port and ex­port of pro­cess­ing trade was 448.8 bil­lion yuan, down 15.6%, a neg­a­tive growth for 12 con­sec­u­tive months, ex­ports was down 17.2%. The im­port and ex­port of other trade was 196.1 bil­lion yuan, down 7.3%, its pro­por­tion in­creased by 1.2 per­cent­age points, of which the ex­ports and im­ports dropped 12.3% and 2.7% re­spec­tively.

4. Ex­port of high-tech prod­ucts was bet­ter than the over­all, im­port of some bulk com­mod­ity grew in quan­tity and fell in price. Ex­port of me­chan­i­cal and elec­tri­cal prod­ucts was 479 bil­lion yuan, down 18.4%. Ex­port of high-tech prod­ucts was 237.3 bil­lion yuan, down 11.6%, its pro­por­tion in­creased by 3.3 per­cent­age points. Ex­ports of seven cat­e­gories of la­bor­in­ten­sive prod­ucts were 168.3 bil­lion yuan, down 28.8%, among which, the ex­ports of fur­ni­ture, bags and shoes de­creased by 33.4%, 31.9% and 29.8%. Im­port of some bulk com­mod­ity grew in quan­tity and fell in price, the im­port amount of crude oil, rub­ber, nat­u­ral gas, iron ore, steel and soy­bean was up 24.4%, 14.9%, 13.8%, 8.5%, 6.8% and 5.8%, the im­port prices fell 35.2%, 17.2%, 27.1%, 34%, 14.8% and 12.9%.

5. The growth rate of state-owned and for­eign en­ter­prises fell af­ter rise, im­ports of pri­vate en­ter­prises in­creased. The im­port and ex­port of state-owned en­ter­prises reached 226.1 bil­lion yuan, down 20.8%, of which ex­ports and im­ports fell by 22.3% and 19.4% re­spec­tively. The im­port and ex­port of for­eign en­ter­prises was 687 bil­lion yuan, down 13%. The im­port and ex­port of pri­vate en­ter­prises was 520.9 bil­lion yuan, down 16.9%, of which ex­port was 362.9 bil­lion yuan, down 23.2%, and im­port rose to 158.1 bil­lion yuan, up 2.7%.

6. East China was bet­ter than the whole coun­try, the fall range of the Cen­tral and West China ex­panded. The im­port and ex­port of East China was 121.64 bil­lion yuan, down 14.8%, 0.9 per­cent­age points lower than the over­all, of which the ex­port fell by 18.7%, which pro­por­tion in the to­tal ex­port and im­port re­al­ized 2 per­cent­age points higher. The im­port and ex­port of Cen­tral China was 60.5 bil­lion yuan, while the num­ber in West China was 75.3 bil­lion yuan, down 28.7% and 29.4% re­spec­tively.

For­eign In­vest­ment in China

From Jan­uary to Fe­bru­ary, ac­tual use of for­eign in­vest­ment was 141.88 bil­lion yuan, an in­crease of 2.7%. The main char­ac­ter­is­tics of for­eign in­vest­ment are as fol­lows:

1. The ac­tual uti­lized for­eign in­vest­ment in­creased slightly, while newly es­tab­lished en­ter­prises have de­clined. For the first two months of 2016, a to­tal of 3,396 for­eign-funded en­ter­prises were ap­proved, down 11.4% year on year. Ac­tu­ally uti­lized for­eign in­vest­ment reached 141.88 bil­lion yuan (equiv­a­lent to US$22.52 bil­lion), up 2.7% year on year (ex­clud­ing data of bank­ing, se­cu­ri­ties and in­sur­ance). In Fe­bru­ary, 1,388 for­eign- funded en­ter­prises were ap­proved, down 11.3% year on year; ac­tu­ally uti­lized for­eign cap­i­tal was 53.63 bil­lion yuan (equiv­a­lent to US$8.44 bil­lion), up 1.8% year on year.

2. The ac­tual ab­sorp­tion of for­eign cap­i­tal in ser­vice in­dus­try con­tin­ued to grow, among which, high-tech ser­vice in­dus­try achieved a higher growth. From Jan­uary to Fe­bru­ary, ac­tual use of for­eign in­vest­ment in man­u­fac­tur­ing was 39.1 bil­lion yuan (equiv­a­lent to US$6.18 bil­lion), down 14.9%, ac­count­ing for 27.6% of the na­tional to­tal. Ac­tual use of for­eign in­vest­ment in ser­vice reached 89.16 bil­lion yuan (equiv­a­lent to US$14.21 bil­lion), an in­crease of 5.7%, ac­count­ing for 62.8% of the na­tional to­tal. Among them, ac­tual uti­lized for­eign cap­i­tal in high tech­nol­ogy ser­vice in­dus­try in­creased steadily, reached 15.91 bil­lion yuan (equiv­a­lent to US$2.52 bil­lion), ac­count­ing for 22.5% of the na­tional to­tal (ex­clud­ing real es­tate). Ac­tual uti­lized for­eign cap­i­tal in dig­i­tal con­tent and re­lated ser­vices, in­for­ma­tion tech­nol­ogy ser­vices, R & D and de­sign ser­vices grew faster, re­al­ized 5.18 bil­lion yuan (equiv­a­lent to US$0.83 bil­lion), 4.66 bil­lion yuan (equiv­a­lent to US$ 0.72 bil­lion), and 3.06 bil­lion yuan (equiv­a­lent to US$0.49 bil­lion), in­creased 538.9%, 134.4% and 68.8% re­spec­tively.

3. In­vest­ments f rom main in­vest­ment sources f luc­tu­ated sig­nif­i­cantly, in­vest­ment from the United States, Ja­pan, Sin­ga­pore, the United King­dom, Ger­many, etc., re­vealed an in­creas­ing ten­dency. From Jan­uary to Fe­bru­ary, ac­tual in­vest­ment from the United States, Ja­pan, Sin­ga­pore, the United King­dom and Ger­many reached 6.29 bil­lion yuan ( US$1 bil­lion), 4.23 bil­lion yuan (US$0.66 bil­lion), 5.75 bil­lion yuan (US$ 0.9 bil­lion), 2.87 bil­lionyuan (US$ 0.46 bil­lion) and 2.74 bil­lion yuan ( US$0.44 bil­lion), up 110.9%, 14.5%, 53.8%, 120.3% and 8.7% re­spec­tively.

4. For­eign in­vest­ment in cen­tral and west­ern re­gions in­creased sig­nif­i­cantly. From Jan­uary to Fe­bru­ary, con­trac­tual FDI in Cen­tral and West China were 25.13 bil­lion yuan (US$3.82 bil­lion) and 15.86 bil­lion yuan (US$2.44 bil­lion), up 26.2% and 14%. Ac­tual use of for­eign in­vest­ment in West China was 9.8 bil­lion yuan (US$1.54 bil­lion), up 8.1%, 5.4 per­cent­age points higher than the na­tional to­tal.

5. For­eign merg­ers and ac­qui­si­tions were be­com­ing in­creas­ingly ac­tive. For the first two months of 2016, 199 for­eign in­vest­ment en­ter­prises were es­tab­lish­ment in the way of merg­ers and ac­qui­si­tions, down 5.2%, ac­tual uti­lized for­eign cap­i­tal was 39.92 bil­lion yuan (US$6.09 bil­lion), an in­crease of 17.3%. The pro­por­tion of merg­ers and ac­qui­si­tions in the ac­tual use of for­eign in­vest­ment rose to 28.1% from 24.6% of the same pe­riod last year.

Over­seas in­vest­ment and eco­nomic co­op­er­a­tion

Di­rect in­vest­ment abroad From Jan­uary to Fe­bru­ary, China’s non-fi­nan­cial for­eign di­rect in­vest­ment reached 195.97 bil­lion yuan, equiv­a­lent to US$29.92 bil­lion, an in­crease of 71.8%. In­vest­ment in the “Belt and Road” coun­tries was US$2.33 bil­lion, up 41.1%, ac­count­ing for 7.5% of the to­tal. Look­ing from the com­po­si­tion of do­mes­tic in­vestors, lo­cal di­rect in­vest­ment was US$25.8 bil­lion, 2.95 times of last year, ac­count­ing for 86.2% of the to­tal FDI. As for the com­po­si­tion of in­dus­try, in the f irst two months of 2016, for­eign in­vest­ment mainly flowed to the busi­ness ser­vices in­dus­try, the num­ber reached US$10.26 bil­lion, up 31%, and ac­counted for 34.3% of the to­tal in­vest­ment; in­vest­ment of man­u­fac­tur­ing in­dus­try was US$3.93 bil­lion, up 145.6%, ac­counted for 13.2%, among which, US$ 1.82 bil­lion was in­vested in equip­ment man­u­fac­tur­ing in­dus­try, an in­crease of 193.5%, ac­count­ing for 46.3% of the to­tal FDI in man­u­fac­tur­ing in­dus­try. Con­tracted projects over­seas In the first two months of 2016, the value of new- signed con­tracts amounted to 206.65 bil­lion yuan, equiv­a­lent to US$31.55 bil­lion, up 7.4% year on year. The turnover of China’s con­tracted projects over­seas was 121.7 bil­lion yuan, equiv­a­lent to US$18.58 bil­lion, down 11% year on year. From Jan­uary to Fe­bru­ary, Chi­nese en­ter­prises signed 421 new con­tracts with the “Belt and Road” coun­tries/ re­gions, amount­ing to US$ 15.46 bil­lion, which ac­counted for 49.0% of the to­tal, an in­crease of 53.2%. La­bor ser­vice co­op­er­a­tion over­seas From Jan­uary to Fe­bru­ary, la­bor ser­vice per­son­nel dis­patched over­seas reached 65,000, a de­crease of 4,000 over the same pe­riod of 2015. In Fe­bru­ary, all la­bor ser­vice per­son­nel dis­patched over­seas reached 29,000, a de­crease of 5,000 over the same pe­riod of 2015. By the end of Fe­bru­ary, all la­bor ser­vice per­son­nel dis­patched over­seas were 989,000, an in­crease of 17,000 com­pared with last year over the same pe­riod.

(Source: Press Con­fer­ence of Min­istry of Com­merce on March 17, 2016)

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