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Bilateral trade with EU & US flourish

Jun '07
According to the latest statistics issued by the General Administration of Customs on June 11, during the first five months this year, China's bilateral trade with major trading partners like the EU, the US, Japan and the Association of Southeast Asian Nations, developed smoothly. The EU, the US, and Japan continue to be the top three trading partners to China.

According to the customs statistics, in the first five months, the EU is China's largest trading partner, Sino-EU bilateral trade value reached US $129.87 billion, an increase of 29 percent, 5.3 percentage points higher than China's overall trade growth rate in the same time.

The US is China's second largest trading partner, Sino-US bilateral trade value amounted to $115.17 billion, an increase of 18.2 percent.

Japan is the third largest trading partner. Sino-Japanese bilateral trade value scored $91.24 billion, an increase of 15.5 percent.

Moreover, during the first five months, China-ASEAN bilateral trade value reached $75.29 billion, an increase of 27.5 percent. ASEAN is China's fourth largest trade partner.

Sino-Indian bilateral trade value came to $14.22 billion, a growth of 53.7 percent, with the development pace being the first among the ten largest trading partners.

Guangdong, Jiangsu, Shanghai are the top three exporters in China.

Customs statistics show that in the first five months, Guangdong's total imports and exports amounted to $230.96 billion, an increase of 22.2 percent, accounting for 28.8 percent of the country's total import and export value for the same period, still a leading over other provinces.

Over the same period, the import and export value of Jiangsu and Shanghai were $131.18 billion and $106.21 billion, respectively, up 25.7 percent and 22.9 percent.

Fibre2fashion, News Desk - China

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