4 Key Takeaways Emerging From China’s Trade Data
9 months, 2 weeks ago

4 Key Takeaways Emerging From China’s Trade Data

The Diplomat  

Amid tensions with the U.S., China is recalibrating its approach to international trade – a strategic shift now visible in the trade data. According to Financial Times calculations, in the 12 months leading up to October 2023, this network covered almost 40 percent of China’s exports and trade between China and FTA partners was worth approximately $1.3 trillion. As Chinese Vice Commerce Minister Wang Shouwen pointed out, “We have a full agenda for FTA negotiations this year.” Emphasis on Developing Countries First While there is an ongoing debate about whether Beijing is succeeding in winning “the hearts and minds” of the Global South, it is widely acknowledged that China has become a crucial economic partner for many emerging economies around the world. According to China’s customs data released in January, trade with BRI countries experienced solid growth in 2023, accounting for 46.6 percent of the total and amounting to $2.74 trillion. Accelerating Technological Self-sufficiency During the 20th National Congress of the Communist Party, Beijing made it a top priority to pursue technological self-sufficiency, part of the CCP’s plan for “the nation’s advancement through science, technology, and education.” With the United States increasing efforts to restrict China’s access to semiconductors, which are crucial components for technological development, the need for self-reliance has become even more pressing for China.

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History of this topic

India’s trade braces for an action-packed 2025
12 hours, 6 minutes ago

India’s trade braces for an action-packed 2025

Live Mint  

India’s external trade, navigating a phase of uncertainty owing to the European Union's new carbon tax on imports and slowing consumption in Europe, is set face further pressure. Yet, according to Pralok Gupta, associate professor, Indian Institute of Foreign Trade, which operates under the ministry of commerce and industry, “If US imposes high tariffs on China, India may face collateral …

US tariffs on China unable to stop China trade growth
Trending News
6 days, 12 hours ago

US tariffs on China unable to stop China trade growth

China Daily  

Vessels dock at the port of Lianyungang, a pilot FTZ area in Jiangsu province. WANG CHUN/FOR CHINA DAILY US president-elect Donald Trump has repeatedly pledged to impose high tariffs on imports from China, including revoking China’s permanent normal trade relations status, resulting in 32 percent tariff, an additional 10 percent tariff, on the basis of the average 19 percent tariff …

US tariffs on China unable to stop China trade growth
Trending News
6 days, 12 hours ago

US tariffs on China unable to stop China trade growth

China Daily  

Vessels dock at the port of Lianyungang, a pilot FTZ area in Jiangsu province. WANG CHUN/FOR CHINA DAILY US president-elect Donald Trump has repeatedly pledged to impose high tariffs on imports from China, including revoking China’s permanent normal trade relations status, resulting in 32 percent tariff, an additional 10 percent tariff, on the basis of the average 19 percent tariff …

Tailwinds favoring foreign trade enterprises
Trending News
1 week, 1 day ago

Tailwinds favoring foreign trade enterprises

China Daily  

Automated vehicles deliver cargo at Qingdao Port's fully automated terminal in Shandong province on Dec 3. ZHANG JINGANG/FOR CHINA DAILY China will ramp up financial support, cultivate new growth engines, and strengthen services for foreign trade enterprises in order to unlock momentum and foster resilience in the country's foreign trade sector — a critical pillar underpinning overall economic growth, officials …

Tailwinds favoring foreign trade enterprises
Trending News
1 week, 1 day ago

Tailwinds favoring foreign trade enterprises

China Daily  

Employees work on a photovoltaic module production line for export orders at a new energy technology company in Sihong Economic Development Zone, Jiangsu province, on Dec 2. Asia Best Partner Logistics, a company located in Shenzhen, Guangdong province, provides sea, land, and air transportation and has begun to transform its business to focus more on the cross-border e-commerce sector in …

Opening-up to spur foreign trade growth
1 week, 1 day ago

Opening-up to spur foreign trade growth

China Daily  

A container ship leaves Qingdao Port, Shandong province. China will continue to advance institutionalized opening-up, broaden market access for global businesses and advocate free trade agreements, fueling its economic growth and bolstering multilateralism in 2025, market observers and business executives said on Sunday. Noting that China gave the green light earlier this year for the establishment of wholly foreign-owned hospitals …

Opening-up to spur foreign trade growth
1 week, 1 day ago

Opening-up to spur foreign trade growth

China Daily  

China will continue to advance institutionalized opening-up, broaden market access for global businesses and advocate free trade agreements, fueling its economic growth and bolstering multilateralism in 2025, market observers and business executives said on Sunday. Noting that China gave the green light earlier this year for the establishment of wholly foreign-owned hospitals in selected cities, including Beijing and Shanghai, Liu …

Trade War Widened US Trade Deficit, Increased Chinese Global Exports
1 week, 1 day ago

Trade War Widened US Trade Deficit, Increased Chinese Global Exports

Deccan Chronicle  

The US-China trade war initiated by President Donald Trump under his previous government failed to achieve its goals as the trade deficit of the US further widened while China’s global exports increased between 2017 and 2023. The US-China trade war, which began in March 2018 by imposing 25 per cent tariffs on steel and 10 per cent on aluminium, escalated …

Mexico, Canada, ASEAN gained more from US-China trade war than India: GTRI
1 week, 2 days ago

Mexico, Canada, ASEAN gained more from US-China trade war than India: GTRI

Live Mint  

New Delhi, Dec 15 Mexico, Canada, and 10-nation Southeast Asian bloc ASEAN benefited more from the US-China trade war than India, economic think tank GTRI said in a report. "Key beneficiaries of the trade war included Mexico, Canada, and ASEAN nations, which collectively accounted for 57 per cent of the growth in US imports. India also emerged as a significant …

China's foreign trade up 4.9% in first 11 months
2 weeks ago

China's foreign trade up 4.9% in first 11 months

China Daily  

China's foreign trade expanded by 4.9 percent year-on-year to 39.79 trillion yuan in the January-November period of 2024, statistics from the General Administration of Customs showed on Tuesday. The country's exports rose 6.7 percent yearly to 23.04 trillion yuan, while its imports climbed 2.4 percent year-on-year to 16.75 trillion yuan during this period, customs data showed. The import and export …

China's foreign trade up 4.9% in first 11 months
2 weeks ago

China's foreign trade up 4.9% in first 11 months

China Daily  

By Zhong Nan | chinadaily.com.cn | Updated: 2024-12-10 11:12 China's foreign trade expanded by 4.9 percent year-on-year to 39.79 trillion yuan in the January-November period of 2024, statistics from the General Administration of Customs showed on Tuesday. The country's exports rose 6.7 percent yearly to 23.04 trillion yuan, while its imports climbed 2.4 percent year-on-year to 16.75 trillion yuan during …

Nation steps up efforts to bolster import and export growth
Trending News
2 weeks, 4 days ago

Nation steps up efforts to bolster import and export growth

China Daily  

A view of a container terminal in Haikou, Hainan province, in October. In the first 10 months, China's total foreign trade value amounted to 36 trillion yuan, representing a 5.2 percent year-on-year increase, and its export share in the global market also remained largely stable. At a news conference last Friday, Vice-Minister of Commerce Wang Shouwen said China's foreign trade …

Nation steps up efforts to bolster import and export growth
Trending News
2 weeks, 4 days ago

Nation steps up efforts to bolster import and export growth

China Daily  

A view of a container terminal in Haikou, Hainan province, in October. In the first 10 months, China's total foreign trade value amounted to 36 trillion yuan, representing a 5.2 percent year-on-year increase, and its export share in the global market also remained largely stable. At a news conference last Friday, Vice-Minister of Commerce Wang Shouwen said China's foreign trade …

India faces high exposure to US trade policy shift
2 weeks, 5 days ago

India faces high exposure to US trade policy shift

Deccan Chronicle  

Chennai: India will be one of the key economies that are most exposed to a potential trade policy shift in the US under the new regime. The 2025 trade outlook is clouded by potential US policy shifts, including broader tariffs that could disrupt global value chains and impact key trading partners, said UNCTAD in its global trade update. This 3.3 …

China’s flood of cheap goods is angering its allies, too
2 weeks, 6 days ago

China’s flood of cheap goods is angering its allies, too

Live Mint  

A deluge of cheap Chinese goods washing over the developing world is jacking up tensions between China and the Global South, complicating Beijing’s plans to build alliances as it confronts escalating trade tensions with the U.S. With President-elect Donald Trump saying he plans to significantly increase tariffs on China, Beijing is hoping to unload more of its excess factory production …

India-China trade: An alarming $18 billion discrepancy
3 weeks, 5 days ago

India-China trade: An alarming $18 billion discrepancy

Live Mint  

India-China trade data for 2023 reveals a widening discrepancy, with India's reported imports from China falling significantly short of China's export figures, raising concerns over potential anomalies such as under-invoicing, misclassification, and inconsistent reporting practices. In 2023, India's merchandise imports from China stood at $99.59 billion, which was 18.2% lower than the $117.68 billion worth of exports reported by China, …

Why Trump’s proposed tariffs may be bad news for China and Asia
3 weeks, 6 days ago

Why Trump’s proposed tariffs may be bad news for China and Asia

CNN  

Hong Kong CNN — President-elect Donald Trump took to social media on Monday to promise massive hikes in tariffs on goods coming from Mexico, Canada and China starting on the first day of his second term. But Trump’s planned tariffs on Chinese goods could also benefit some countries in Southeast Asia as factories may relocate from China to other places …

Tariff hikes will backfire, and China can manage such ‘external shocks,’ a senior official says
1 month ago

Tariff hikes will backfire, and China can manage such ‘external shocks,’ a senior official says

Associated Press  

HONG KONG — Higher tariffs on Chinese exports will backfire, just increasing prices paid by consumers, while China can manage to weather the impact of such “external shocks,” a senior Commerce Ministry official said Friday in Beijing. Responding to a reporter’s question about U.S. President-elect Donald Trump’s plan to impose 60% tariffs on imports from China, Vice Commerce Minister Wang …

Chinese overcapacity is crushing the global steel industry
1 month ago

Chinese overcapacity is crushing the global steel industry

Live Mint  

Each year China makes as much steel as the rest of the world combined. Last month Nippon Steel, Japan’s biggest steelmaker, called on the government to impose anti-dumping duties on Chinese imports. View Full Image The rich world has experienced surges in Chinese steel exports before, including in 2008 and 2015. Even in America, where hefty tariffs already keep out …

China making the most of a rapidly changing world
1 month ago

China making the most of a rapidly changing world

China Daily  

SHI YU/CHINA DAILY The Bretton Woods institutions — the International Monetary Fund, the World Bank and the General Agreement on Tariffs and Trade -have dominated global trade and development policies in the postwar era, because developed countries were at the height of their power when those policies were devised. In a rapidly changing world, the economic and political hefts of …

Xinjiang sees rapid growth of foreign trade
1 month ago

Xinjiang sees rapid growth of foreign trade

China Daily  

The Xinjiang Uygur autonomous region's foreign trade in the first 10 months of the year reached 362.79 billion yuan, up 28 percent year-on-year, registering the fastest growth rate among all provincial-level regions around the country. During the period, foreign trade by private enterprises in Xinjiang grew 26.8 percent year-on-year and accounted for 92.4 percent of the region's total foreign trade, …

China coped with Trump’s first trade war. A second one will be tougher.
Trending News
1 month, 1 week ago

China coped with Trump’s first trade war. A second one will be tougher.

Live Mint  

SINGAPORE—The last thing Xi Jinping needs right now is another showdown with Donald Trump over trade. If the U.S. cuts back on some of the $430 billion in goods it imports from China each year, Chinese companies could try sending them to other countries, a strategy Beijing followed successfully after Trump first hit Chinese goods with tariffs in 2018. Some …

'New energy trio' next growth engine for Asia-Pacific
1 month, 1 week ago

'New energy trio' next growth engine for Asia-Pacific

China Daily  

MA XUEJING/CHINA DAILY Chinese-made electric vehicles, lithium batteries and solar photovoltaic products, the "new trio", have been praised and marveled worldwide. This means the Asia-Pacific region can use Chinese new energy products to achieve regional low-carbon transition and boost economic growth and technological advancement, as well as reduce the threat posed by climate change. The Chinese mainland, on its part, …

'New energy trio' next growth engine for Asia-Pacific
1 month, 1 week ago

'New energy trio' next growth engine for Asia-Pacific

China Daily  

MA XUEJING/CHINA DAILY Chinese-made electric vehicles, lithium batteries and solar photovoltaic products, the "new trio", have been praised and marveled worldwide. This means the Asia-Pacific region can use Chinese new energy products to achieve regional low-carbon transition and boost economic growth and technological advancement, as well as reduce the threat posed by climate change. The Chinese mainland, on its part, …

Foreign trade poised for steady growth amid headwinds
Trending News
1 month, 2 weeks ago

Foreign trade poised for steady growth amid headwinds

China Daily  

China's foreign trade will sustain steady growth for the remainder of 2024 and exporters should prepare for potential challenges, including higher tariffs, by enhancing product competitiveness and expanding sales in emerging markets, government officials and market observers said on Thursday. China's foreign trade increased 5.2 percent year-on-year to 36.02 trillion yuan in the January-October period, while its exports rose 6.7 …

Foreign trade poised for steady growth amid headwinds
Top News
1 month, 2 weeks ago

Foreign trade poised for steady growth amid headwinds

China Daily  

China's foreign trade in goods 2024. CHINA DAILY China's foreign trade will sustain steady growth for the remainder of 2024 and exporters should prepare for potential challenges, including higher tariffs, by enhancing product competitiveness and expanding sales in emerging markets, government officials and market observers said on Thursday. China's foreign trade increased 5.2 percent year-on-year to 36.02 trillion yuan in …

Foreign trade poised for steady growth amid headwinds
1 month, 2 weeks ago

Foreign trade poised for steady growth amid headwinds

China Daily  

China's foreign trade in goods 2024. CHINA DAILY China's foreign trade will sustain steady growth for the remainder of 2024 and exporters should prepare for potential challenges, including higher tariffs, by enhancing product competitiveness and expanding sales in emerging markets, government officials and market observers said on Thursday. China's foreign trade increased 5.2 percent year-on-year to 36.02 trillion yuan in …

Foreign trade poised for steady growth amid headwinds
1 month, 2 weeks ago

Foreign trade poised for steady growth amid headwinds

China Daily  

By Zhong Nan and Ouyang Shijia in Shanghai | China Daily | Updated: 2024-11-08 07:09 China's foreign trade in goods 2024. CHINA DAILY China's foreign trade will sustain steady growth for the remainder of 2024 and exporters should prepare for potential challenges, including higher tariffs, by enhancing product competitiveness and expanding sales in emerging markets, government officials and market observers …

China's foreign trade up 5.2% in Jan-Oct period
1 month, 2 weeks ago

China's foreign trade up 5.2% in Jan-Oct period

China Daily  

China's foreign trade expanded 5.2 percent year-on-year to 36.02 trillion yuan in the January-October period of 2024, statistics from the General Administration of Customs showed on Thursday. Exports rose 6.7 percent yearly to 20.8 trillion yuan, while imports climbed 3.2 percent year-on-year to 15.22 trillion yuan during this period, customs data showed. The import and export value of China's private …

China records highest export growth in 2 years amid looming Trump’s 60% tariff threat
Trending News
1 month, 2 weeks ago

China records highest export growth in 2 years amid looming Trump’s 60% tariff threat

Firstpost  

Exports far surpassed analyst’s estimates of about 5.5 per cent growth and outpaced September’s growth of just 2.4 per cent. China’s exports rose 12.7 per cent in October from a year earlier, the fastest monthly growth in more than two years, according to customs data released Thursday. It showed imports fell 2.3 per cent in October from a year earlier, …

China’s exports grew 12.7% in October, fastest pace in more than 2 years
1 month, 2 weeks ago

China’s exports grew 12.7% in October, fastest pace in more than 2 years

Associated Press  

HONG KONG — China’s exports rose 12.7% in October from a year earlier, the fastest monthly growth in more than two years, according to customs data released Thursday. It showed imports fell 2.3% in October from a year earlier, while China’s trade surplus rose to $95.7 billion in October, up from $81.7 billion in September. China’s exports to Russia rose …

China's foreign trade up 5.2% in Jan-Oct period
Top News
1 month, 2 weeks ago

China's foreign trade up 5.2% in Jan-Oct period

China Daily  

China's foreign trade expanded 5.2 percent year-on-year to 36.02 trillion yuan in the January-October period of 2024, statistics from the General Administration of Customs showed on Thursday. Exports rose 6.7 percent yearly to 20.8 trillion yuan, while imports climbed 3.2 percent year-on-year to 15.22 trillion yuan during this period, customs data showed. The import and export value of China's private …

China's foreign trade up 5.2% in Jan-Oct period
Top News
1 month, 2 weeks ago

China's foreign trade up 5.2% in Jan-Oct period

China Daily  

China's foreign trade expanded 5.2 percent year-on-year to 36.02 trillion yuan in the January-October period of 2024, statistics from the General Administration of Customs showed on Thursday. Exports rose 6.7 percent yearly to 20.8 trillion yuan, while imports climbed 3.2 percent year-on-year to 15.22 trillion yuan during this period, customs data showed. The import and export value of China's private …

China's foreign trade up 5.2% in Jan-Oct period
Top News
1 month, 2 weeks ago

China's foreign trade up 5.2% in Jan-Oct period

China Daily  

China's foreign trade expanded 5.2 percent year-on-year to 36.02 trillion yuan in the January-October period of 2024, statistics from the General Administration of Customs showed on Thursday. Exports rose 6.7 percent yearly to 20.8 trillion yuan, while imports climbed 3.2 percent year-on-year to 15.22 trillion yuan during this period, customs data showed. The import and export value of China's private …

China's foreign trade up 5.2% in Jan-Oct period
1 month, 2 weeks ago

China's foreign trade up 5.2% in Jan-Oct period

China Daily  

China's foreign trade up 5.2% in Jan-Oct period By Zhong Nan in Shanghai chinadaily.com.cn Updated: Nov 07, 2024 China's foreign trade expanded 5.2 percent year-on-year to 36.02 trillion yuan in the January-October period of 2024, statistics from the General Administration of Customs showed on Thursday. Exports rose 6.7 percent yearly to 20.8 trillion yuan, while imports climbed 3.2 percent year-on-year …

Navigating the Complexities of Sino-US Relations: A Path to Stability and Prosperity
1 month, 2 weeks ago

Navigating the Complexities of Sino-US Relations: A Path to Stability and Prosperity

China Daily  

The article emphasizes the importance of fostering non-confrontational and manageable competition between China and the US to benefit the world. It argues that a less aggressive and consensual approach aligns with their security and interests. The writer highlights the differences in military capabilities and economic interdependence between the two countries, emphasizing the need for dialogue and compromise to address global …

Rebuilding Sino-US trust crucial for world
1 month, 2 weeks ago

Rebuilding Sino-US trust crucial for world

China Daily  

In recent years, rising tensions between China and the US have led to bleak predictions of bilateral relations and potentially dangerous global fragmentation. Before 2001, the year China joined the World Trade Organization, 80 percent of the world's countries traded more with the US than with China. Over the past decade, China has invested more than $1 trillion in infrastructure …

Chinese Toymaker Seeks Global Expansion in Emerging Markets
Top News
2 months ago

Chinese Toymaker Seeks Global Expansion in Emerging Markets

China Daily  

Emerging markets are driving China's export orders, with the country's foreign trade value with over 160 countries and regions continuing to grow. This growth is driven by several factors, including the diversification of China's export markets, increasing business and consumer demand in emerging regions, and changing global trade dynamics.

Chinese Toymaker Seeks to Boost Exports to Emerging Markets
2 months ago

Chinese Toymaker Seeks to Boost Exports to Emerging Markets

China Daily  

Emerging markets are driving China's export orders, with the country's foreign trade value with over 160 countries and regions continuing to grow. This growth is driven by several factors, including the diversification of China's export markets, increasing business and consumer demand in emerging regions, and changing global trade dynamics.

Emerging Markets Driving Export Orders: Boosting Trade with Southeast Asia, Middle East, and South America
2 months ago

Emerging Markets Driving Export Orders: Boosting Trade with Southeast Asia, Middle East, and South America

China Daily  

Emerging markets are playing a significant role in boosting Chinese export orders, with a 37 percent increase in orders to these regions this year. This growth is driven by factors such as the diversification of China's export markets, increasing business and consumer demand in emerging regions, and changing global trade dynamics.

Chinese Toymaker Seeks to Expand into Emerging Markets as Exports Soar
2 months ago

Chinese Toymaker Seeks to Expand into Emerging Markets as Exports Soar

China Daily  

Emerging markets are driving China's export orders, with the country's foreign trade value with over 160 countries and regions continuing to grow. This growth is driven by several factors, including the diversification of China's export markets, increasing business and consumer demand in emerging regions, and changing global trade dynamics.

Emerging markets boosting export orders
2 months ago

Emerging markets boosting export orders

China Daily  

Emerging markets boosting export orders By ZHONG NAN China Daily Updated: Oct 22, 2024 View of Chinese-made vehicles to be exported at Yantai Port in Shandong province on Oct 14. "After mid-October, we will focus on non-Christmas-themed toys and expanding into emerging markets," said Wang, adding the company's total export orders for the Christmas season have reached 6.95 million yuan …

China's Foreign Trade Soars to Record High in First Three Quarters
2 months, 1 week ago

China's Foreign Trade Soars to Record High in First Three Quarters

China Daily  

China's foreign trade grew significantly in the first three quarters of 2024, with both exports and imports increasing. The country's exports surged 6.2 percent year-on-year to 18.62 trillion yuan, while imports rose 4.1 percent year-on-year to 13.71 trillion yuan. The country's foreign trade hit a record high in the first three quarters with each quarter exceeding 10 trillion yuan.

China's Foreign Trade Soars to Record High in First Three Quarters
2 months, 1 week ago

China's Foreign Trade Soars to Record High in First Three Quarters

China Daily  

China's foreign trade grew significantly in the first three quarters of 2024, with both exports and imports increasing. The country's exports reached 18.62 trillion yuan, up 6.2 percent year-on-year, while imports rose to 13.71 trillion yuan, up 4.1 percent. This growth is attributed to China's optimization of its exported products, with exports of high-tech equipment increasing by 40 percent year-on-year …

China's Foreign Trade Soars to Record High in First Three Quarters
2 months, 1 week ago

China's Foreign Trade Soars to Record High in First Three Quarters

China Daily  

China's foreign trade grew significantly in the first three quarters of 2024, with both exports and imports increasing. The country's exports surged 6.2 percent year-on-year to 18.62 trillion yuan, while imports rose 4.1 percent year-on-year to 13.71 trillion yuan. The country's foreign trade hit a record high in the first three quarters with each quarter exceeding 10 trillion yuan.

China's trade with ROK increasingly competitive
2 months, 3 weeks ago

China's trade with ROK increasingly competitive

China Daily  

The industrial business sectors of China and South Korea, once complementary a decade ago, have become increasingly competitive in mid — to high-end manufacturing, a trend that is expected to intensify in the coming years, said market watchers on Friday. As China continues to expand its opening-up and make breakthroughs in areas such as shipbuilding, electric vehicle and foldable smartphone …

Trade in services experiencing exponential growth
3 months ago

Trade in services experiencing exponential growth

China Daily  

A visitor experiences a passenger-carrying autonomous aerial vehicle during the 2024 CIFTIS in Beijing on Sept 13. "Since China's manufacturing investment and goods trade have remained at a high level, trade in services plays an even more important role to drive high-quality economic growth and new quality productive forces," said Jiang Hao, a partner at global management consultancy Roland Berger. …

China's service trade set to unleash huge potential
3 months, 1 week ago

China's service trade set to unleash huge potential

China Daily  

The 2024 China International Fair for Trade in Services kicks off in Beijing on Thursday. From 2012 to 2023, the volume of service trade in China, measured in US dollars, grew at an average annual growth rate of 6.2 percent. In 2023, China's share of global service exports and service imports stood at 4.8 percent and 7.5 percent respectively, indicating …

Guangdong foreign trade sweeps upward
3 months, 1 week ago

Guangdong foreign trade sweeps upward

China Daily  

Guangdong's foreign trade has made significant progress in emerging markets while maintaining good growth momentum in traditional markets during the first eight months of this year. According to the statement, exports of vessels, electric vehicles and containers achieved faster growth between January and August, increasing by 47.6 percent — 68.2 percent and 133.1 percent year-on-year, respectively — becoming new growth …

Opening up of services seen broadening
3 months, 1 week ago

Opening up of services seen broadening

China Daily  

China will further open up its services sector, promote convenient cross-border flow of various innovation elements, and optimize the environment for the growth of trade in services, a senior official said. The document will guide China's services trade growth in the future," Tang Wenhong, assistant minister of commerce, said during a news conference on Tuesday. Last year, China's total value …

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