Tai­wan the 4th big­gest ex­porter to China, says gov­ern­ment stats dep’t

The China Post - - LOCAL -

Ex­ports from Tai­wan to China ac­counted for 8.5 per­cent of China’s to­tal in­bound ship­ment in the first seven moths of 2015, mak­ing it the na­tion’s fourth largest im­porter, the Direc­torateGen­eral of Bud­get, Ac­count­ing and Sta­tis­tics ( DGBAS) re­ported on Satur­day.

China’s top three im­porters dur­ing the pe­riod are South Korea (10.1 per­cent), the United States (9 per­cent) and Ja­pan (8.6 per­cent), with Ger­many (5.4 per­cent) round­ing up the top five, ac­cord­ing to a DGBAS re­port is­sued on Aug. 25, which cited sta­tis­tics re­leased by China’s Gen­eral Ad­min­is­tra­tion of Cus­toms.

In 2004, main­land China’s top five im­porters were Ja­pan (16.8 per­cent), the Euro­pean Union (12.5 per­cent), Tai­wan (11.5 per­cent), the As­so­ci­a­tion of South­east Asian Na­tions (11.2 per­cent) and South Korea (11.1 per­cent).

With the rise of the “red sup­ply chain,” a fast-grow­ing clus­ter of high-tech com­po­nents culti- vated by Bei­jing, the im­pact of Tai­wan’s for­eign di­rect in­vest­ment in China on bi­lat­eral trade has dwin­dled in re­cent years and the share of Tai­wan’s im­ports fell to 8.5 per­cent in the first seven months of 2015, com­pared with 11.3 per­cent in 2005, the DGBAS said.

In the mean­time, Ja­pan’s im­ports in China fell to 8.6 per­cent from 15.2 per­cent in 2005 and South Korea to 10.1 per­cent from 11.6 per­cent, while com­modi­ties ex­porter Aus­tralia in­creased its share from 2.4 per­cent to 4.6 per­cent in the same pe­riod.

The growth in China’s dol­lar­de­nom­i­nated im­ports de­creased to 0.4 per­cent year-on-year in 2014 and fell even fur­ther to mi­nus 14.6 per­cent in the first seven months of 2015, com­pared with dou­ble-digit growths from 2002-2011, the DGBAS said.

This was caused by ex­cess fac­tory pro­duc­tion, in­crease in self­pro­duced goods and the ef­fect of im­port sub­sti­tu­tion pol­icy in China, the DGBAS said.

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