China's Imports from Major Partners on Rise

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Last updated at: (Beijing Time) Wednesday, January 29, 2003

China's Imports from Major Partners on Rise

China's imports from Japan, the United States and its other major trading partners all rose in 2002, figures released by the General Administration of Customs show.

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China's imports from Japan, the United States and its other major trading partners all rose in 2002, figures released by the General Administration of Customs show.

Japan remained China's largest source of imports which were worth 53.468 billion US dollars last year, up 25.0 percent. China's exports to Japan grew 7.8 percent to 48.437 billion US dollars.

Major goods China imported from Japan were automobiles and parts, cameras and films, machinery and electronic products, and chemical products. Imports of all those products increased.

The European Union was the second largest source of imports to China. China imported goods worth 38.543 billion US dollars from the European Union last year, up 7.9 percent. They were mainly machinery, electronic products, automobiles and parts, chemical products and plastic goods.

China's exports to the European Union grew 17.9 percent to a value of 48.212 billion US dollars.

Taiwan Province was the third largest source of imports for China's mainland. While Taiwan exported goods worth 38.063 billion US dollars last year to the mainland, up 39.2 percent, the mainland exported goods worth 6.586 billion US dollars to Taiwan, up 31.7 percent.

The fourth to the 10th largest sources of imports to China were the ASEAN, the Republic of Korea, the United States, the Hong Kong Special Administrative Region, Russia, Australia and Canada.

Total imports from the top 10 trading partners added up to 245.7 billion US dollars, accounting for 83 percent of China's total imports.

China's total foreign trade turnover last year surged 21.8 percent, reaching 620.768 billion US dollars.

Shi Guangsheng, minister of Foreign Trade and Economic Cooperation, said in a recent speech that China's surge of foreign trade turnover was mainly the result of the country's fast economic growth, a better-than-expected world economy and the positive effect of China's membership of the World Trade Organization.

The minister predicted that China's foreign trade would continue to grow in 2003.

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