Foreign Trade Statistics
£¨ This article mainly represents CIFE advantages by means of Chinese foreign trade and Hunan trade. £©
1. Sino-American trade volume made a breakthrough of US$ 300 billion in 2007
2. EU is still the first trading partner of China
3. 2007 Chinese foreign trade volume surpasses US$ 2 trillion and the growth rate surpasses 20% for 6 years successively
4. Good start of Changsha partners and investment attraction
5. Direct financing increases by 5 times and is expected to exceed ten billions in 2007
6. Hong Kong Investment Promotion Bureau offers good opportunities to Hunan enterprises
7. Zhouqiang has a meeting with president of Economic Daily: Hunan is well prepared to accelerate its advancements
1. Sino-American trade volume made a breakthrough of US$ 300 billion in 2007
He Ning, department-chief of American affairs department of Chamber of Commerce of PRC, said that there had been a new record well over US$ 270 billion from January to November of 2007 and probably there would be a breakthrough in Sino-American trade volume of US$ 300 billion in 2007, and therefore China would ranked the third among America's exporter countries. According to He Ning, Sino-American trade dependence has been increasing all the time in recent years and the bilateral trade volume has developed from US$ 2.5 billion in 1997 to US$ 262.7 billion in 2006, which has increased by over 100 times. Investments from the US have also been rapidly growing. By the end of November in 2007, the US has set up some 54,000 enterprises by investments and its actual investments have developed over US$ 56 billion.
As for the existing problems in Sino-American trade development and American trade protectionism force, He Ning stressed that both China and the US believe that the trade relationship is sound in the whole, the dependence is gradually increasing and common benefits are enlarging. He Ning pointed, to coordinate China-US trade relation, they have established mechanisms like strategic economic dialogues, Sino-American trade union committee etc., which will play an important part in promoting relations of Sino-American trade and offer a effective platform to solve emerging problems in their economic and trade relationship.
As for rights and obligations problem after China's admission to WTO, Zhang Xiangcheng, the department-chief of World Trade Department of Chamber of Commerce who has participated in 2007 China Economic Diplomacy Forum, pointed although after its entry to WTO, China enjoys a rapid development of economy and of course it is the beneficiary of economy globalization, the biggest beneficiary is still the developed countries. China acts as a bridge of exchanges between the developed countries and the developing countries in WTO.
2. EU is still the first trading partner of China
Sino-European trade volume has an increase rate of 27.5%, higher than total increase rate in China foreign trade of average 23.5% in the first 10 months of 2007, Sino-American has an increase rate of 15.6% and Sino-Japanese 14.0%. China and Europe have accomplished a US$ 287.52-billion trade volume. Even if the trade volume of US$ 2.78 billion between China and Rumania and Bulgaria , two new members of EU, is excluded, the US$ 284.71 billion trade scale by China and the 25 members of EU from January to October has also beaten US$ 272.3-billion in 2006.
EU has exported US$ 198.17-billion goods to 27 countries from January to October, with a growth rate of 30.7% compared to corresponding period of last year, exceeding export volume for 2006; China has imported US$ 89.35-billion goods from EU, with the increase rate of 21.0% on same basis. Because the export volume has a far bigger base than import volume, China 's surplus has been expanded to hundreds of billion and reached US$ 128.821 billion. In terms of export and import, there are a few differences of commodity structures: among major categories of China selling to EU, top products are mechanical and electrical products, audiovisual facilitates and their parts and accessories. The export volume has reached US$ 92.01 billion during January to October of 2007, accounting for 46.4% of exports to EU; secondary products are textile materials and textile products, whose export volume is US$ 22.04 billion, accounting for 11.1%; cheap metals and products of this kind have an export volume of US$ 20.47 billion, accounting for 10.3%. Total export volume of the above three kinds sum up to US$ 134.52 billion, accounting for 67.8% of EU's total exports. Among major categories of China import from EU, top products are also mechanical and electrical products, audiovisual facilitates and their parts and accessories. The import volume has reached US$ 39.93 billion during January to October of 2007, accounting for 44.7% of exports to EU; secondary products are automobiles, pilots, ships and transport equipment whose import volume is US$ 12.11 billion, accounting for 13.5%; cheap metals and products of this kind have an import volume of US$ 9.29 billion, accounting for 10.4%. Total import volume of the above three kinds sum up to US$ 61.33 billion, accounting for 68.6% of EU's total imports.
3. 2007 Chinese foreign trade volume surpasses US$ 2 trillion and the growth rate surpasses 20% for 6 years successively
According to 2007 Import and Export Review by Customs Bureau, China annual foreign trade volume is up to US$ 2.1738 trillion, exceeding US$ 2 trillion for the first time, increasing by 23.5% than last year, with a net increase of US$ 413.1 billion, among which exports are US$ 1.218 trillion, increasing by 25.7% and dropping 1.5% than last year; imports are US$ 0.9558 trillion, increasing by 20.8%, 0.9 percentages faster than last year. Trade surplus of the whole year has accumulated to US$ 262.2 billion. According to Customs, since China 's final entry to WTO in 2002, the growth rate has maintained well over 20% for 6 years and the import-and-export scale has quadrupled.
China 's foreign trade volume is US$ 206.15 billion in December of 2007, increasing by 23.4% compared to the same period of last year, among which the export volume is US$ 114.42 billion with a 21.7% increase, and the import volume is US$ 91.73 billion with a 25.7% increase. The monthly trade volume has maintained well over US$ 90 billion for 2 months. There is a surplus of US$ 22.69 billion in December, falling by14.2% than last month.
Observing from the whole year, our foreign trade continues to have a good increase momentum in 2007. In order to further optimize export products structure, protect and utilize environmental resources in a rational way, China has imposed higher customs duties and reduced export rebates to increase adjustment degree of ¡°2 high & 1 capital¡± products exports and meanwhile it has called off many limit measures like automatic import control to encourage import, which made the export enjoy a slower growth in last half of 2007 and imports enjoy a obvious rise, by which way the rapid expanding surplus has been effectively controlled and a primary achievements have been made in policy adjustments.
According to Customs statistics, monthly import volume growth has exceeded 25% for 3 month on the same basis, slowing the surplus increase. In terms of the last half of 2007, gradually, our monthly export has enjoyed a slower increase on the same basis, while import is growing faster on the same basis. Although the absolute scale of trade surplus is enlarging, its growth rate slows down gradually. Particularly, monthly import growth in the 4th quarter has surpassed 25% for succeeding 3 months, which has pulled back 1.7% import increase of the whole year compared to the 3rd quarter. Thus, compared to 69.4% at the end of the 3rd quarter, the increase rate of accumulated trade surplus has dropped to 47.7% at the end of year, falling by 21.7%.
Except changes in export and import growth, trade methods are also subject to changes in import and export, that is, the general trade has a greater proportion and roughly equals processing trade. According to Customs statistics, China's general trade is US$ 967.22 billion, growing by 29.1%, 5.6% compared to import and export increase rate of that year in the whole, accounting for 44.5% in trade volume of 2007, 1.9% higher than that of last year. Meanwhile, with China increasing emphasis on policies adjustments on processing trade, increase rate of development in processing industry has obviously slowed down. Processing trade volume is US$ 986.05 billion in year 2007, increasing by 18.5%, falling by 5% compared with import and export increase rate of that year in the whole, accounting for 45.4% of the total trade volume and declining by 1.8% compared with last year.
Bilateral trades between China and its major partners have realized faster advancements. According to Customs statistics, EU has become the biggest trading partner of our country in 2007. Bilateral trade volume has reached US$ 356.15 billion, increasing by 27%. As the second biggest trading partner, the US enjoyed US$ 302.08 billion in bilateral trade, growing by 15%. Japan ranked the third biggest trading partner and biggest import source, whose bilateral trade volume has reached US$ 236.02 billion, increasing by 13.9%. Besides, bilateral trade volumes between China and ASEAN, Hong Kong, Korea and Taiwan province are all over hundreds of billion US dollars in 2007, that is, US$ 202.55 billion, US$ 197.25 billion, US$ 159.9 billion and US$ 124.48 billion whose increase rates are 25.9% ¡¢ 18.8% ¡¢ 19.1% and 15.4% respectively.
In the last year, trade volumes of province giants in terms of foreign trade like Guangdong , Jiangsu , Shanghai all kept a rapid growth. According to Customs statistics, the foreign trade growth rates of major provinces, such as Guangdong , Jiangsu , Shanghai etc. are all above 20%. Export and import volume in Guangdong province is US$ 634.07 billion, increasing by 20.3%, accounting for 29.2% of the whole year trade volume, keeping the No.1 place among China's all provinces. Export and import volumes in Jiangsu , Shanghai are US$ 349.56 billion and US$ 282.91 billion respectively whose growth rates are 23.1% and 24.3%, accounting for 16.1% and 13% of China 's foreign trade. Thus, they have taken the second and third place respectively in terms of their tremendous trade volume. The above 3 provinces and city sum their trade volume to US$ 1.26654 trillion, accounting for 58.3% of the total national trade volume.
In export products, mechanical and electrical products take the leading position and some of traditional bulk commodities have slowed their increase. According to the latest Customs statistics, mechanical and electrical products exports are US$ 701.17 billion, increasing by 27.6%, accounting for 57.6% in total export volume, 0.9% higher than that of last year. Among them, exports of electric appliances and electronic products are worth US$ 300.34 billion, increasing by 32%; exports of machinery and equipment are worth US$ 228.6 billion. High-and-new tech products exported are US$ 347.83 billion, increasing by 23.6%.
Export volumes of Clothing and clothing accessories of traditional bulk commodities have reached US$ 115.07 billion in 2007, increasing by 20.9%, declining by 8%; Export volume of spinning thread, textiles has reached US$ 56.1 billion, increasing by 15%, 3.7 percentages lower than that of last year; Export volume of shoes is US$ 25.31 billion, increasing by 16%, 1.5 percentages higher than that of last year.
Among imported goods, primary products have a powerful increase momentum and mechanical and electrical products maintain a steady increase trend. In 2007, China imported primary goods of US$ 242.98 billion, increasing by 29.8%, accounting for 25.4% of total imports, 1.8 percentages higher than that of last year. Among them, imported beans are 30,820,000 tons, increasing by 9.2%. In corresponding period, imports of manufactured goods are up to US$ 712.84 billion, increasing by 18%, accounting for 74.6% in total imports of that year. Mechanical and electrical products imported are up to US$ 498.98 billion, increasing by 16.7%, among which there are 313,000 automobiles, increasing by 37.9%.
4. Good start of Changsha partners and investment attraction
New year beginning, Changsha embraces the good start of partners and investment attraction. Yesterday, Yang Yiwen, chief of Changsha Commerce Bureau told reporter that there are 17 newly-approved enterprises, whose contracts occupy foreign capital of US$ 185 million.
Manufacturing industry plays the main theme
Entering year 2007, great commitments have been made in partners and investment attraction of Changsha city, which generates a very steady and fast movement: there are 17 newly-approved enterprises in January, whose contracts occupy foreign capital of US$ 185 million. Yang Yiwen introduced, good start meant not only the increase in amount and scale, but also in enhancement of quality. Manufacturing industry has become major objects of foreign investors. In January, 10 foreign capital enterprises made investments in manufacturing industry of Changsha whose contracts occupied foreign capital of US$ 96.16 million, more than half of total contract occupied foreign capital of that month. Yang also showed, Changsha would also reinforce the partners and foreign investments attraction, ¡°make it large and powerful¡±. Changsha will give priority to World Top 500, National Top 500 and provincial enterprises in terms of establishment of branches in Changsha which are able to increase employment opportunities and taxes. ¡°Through this way, partners and foreign investments attraction will be elevated into a new level. It's not simple welcome, but should be based on the current strength and development potential of the applying enterprise.¡± Foreign capital in Hunan province is nearly 40% and Changsha has long been crowned as economic core city of Hunan . Observing from trade volume of 2006, Changsha trade volume reached US$ 2.342 billion, accounting for 40% of Hunan trade volume. Among them, exports were US$ 1.404 billion, beyond average increase of Hunan and China . ¡°There are big changes in consumption abilities and values of Changsha citizens, which in Engel coefficient reflects food has a smaller proportion in all purchased commodities. Consumptions in spirit commodities, cars and makeup etc. are increasing.¡± Yang figured out, the improvement of intellectual environment and consumption values will give a new momentum for partners and investment attraction in 2007. Methods are also subject to changes in deeper layer during the shaping process of trade cities in central and western area and the enlarging process of partners and investment attraction. Changsha is on a new track of industrialization, which according to Yang, is the combination of modern industry and service industry. As for business arrangement of this year, Changsha has placed emphasis on collection of new advantages, devoted itself to shaping Changsha into trade cities in central and western area and strengthened its radiation and absorption abilities.
In this year, Changsha has introduced a number of important projects conducive to industry deepening development, industry chain stretching and group advantages after it gave full considerations to pillar industry and leading enterprises in electronic information enlarging, engineering & machinery, food processing, biological medicines, high-and-new technology and culture & amusements, which will target exactly towards market focal point, bring in foreign capital banks, intermediary services and invigorate development of Changsha service industry.
5. Direct financing increases by 5 times and is expected to exceed ten billions in 2007
According to Sanxiang-city Express reported on 11th, November
Hunan Nonferrous Metals, Zhuzhou CSR Times Electric have come to become listed in Hong Kong successfully and Hunan NanLing Industry Explosive Material, SUN £ WARD have entered middle and small board one after another¡ According to authorities statistic, direct financing of Hunan achieved from capital market has reached RMB 9.63 billion, six times of that of 2005, which became a breakthrough in last year. ¡°2006 has witnessed fastest development, best quality and efficiency, greatest integral results of financing industry in recent years.¡± concluded by Hunan provincial financial securities office in the terms of positive achievements in Hunan capital market of last year.
It is said that 8 Hunan enterprises including Jiarunduo, Tuowei Information and Southern Valve are going to come into the market through IPO of share A, while Hunan International Investment Group, provincial Publishing Group, Xiaoxinxing Education Group will come into foreign market, which means the starting of new Hunan enterprises financing activities.
New breakthroughs have been made in direct financing
According to provincial financial securities offices, by the end of 2006, there had been 47 A-share companies coming into the market and 4 companies coming into foreign market in Hunan (2 H-share holders and 2 red chip holders), which collected direct financing capital of RMB 9.63 billion, six times of that of 2005. Financing capitals from external securities markets are up to RMB 4.3 billion, including the 2.1 billion Hongkong dollars raised from the successful H-share issuing of Hunan Nonferrous Metals in Hong Kong at the end of March and 2.2 billion Hong Kong dollars raised by Zhuzhou CSR Times Electric at the end of December. Financing capitals from A-share market within China are up to RMB 772 thousand, that is, the RMB 0.3 billion raised from the targeted additional stock issue by Xiangtan Electric Motor and RMB 0.14 billion by NanLing Industry Explosive Material, RMB 0.332 billion by SUN £ WARD. Capitals raised by long-term bonds are up to RMB 2 billion, among which both Modern Investment and Changsha City Construction Investment issued RMB 1 billion. Provincial Credit & Trust raised capital of RMB 1.9 billion by means of aggregated trust plan and private placement of US$ 8.5 million by means of equity financing, approximately RMB 0.66 billion. Among them, Liuyang Golden Trust & Guarantee has invested US$ 2 million and Hunan Taizinai Group has raised US$ 73 million from the British investment, Morgan Stanley Dean Witter Asia Co.,Ltd. and Goldman Sachs Asia by means of private placements; Greatdreams Cartoon introduced US$ 10 million of America Sequoia Fund through private placement. Their goals are approaching tens of million.
It is said that provincial financial credit input and direct financing are set to achieve a new increase of about RMB 85 billion, striving for a new increase of RMB 90 billion to 100 billion.
Financial credit input is expected to have a new increase of RMB 68 billion, increasing about 12%. The financial credit input of Hunan kept a steady increase and newly-added loans were up to about RMB 62 billion in 2006. As for short-term financing bonds, enterprises will issue RMB 5 billion, striving to surpass the level in 2006. RMB 10 billion direct financing is acquired from securities entities outside China with the goal of RMB 15 billion. 8 Hunan enterprises including Jiarunduo, Tuowei Information and Southern Valve are trying their best to raise RMB 2.6 billion through IPO. According to related departments, the reporter learnt that information for Miluo Zhongtian Science and Technology Co., Ltd to be listed in Singapore Exchange had been submitted to Singapore Exchange. It is estimated that this company is to be listed in Singapore Exchange and start its business in the first quarter, which will make it become the first company coming into Singapore market of Hunan . In addition, 14 listed companies, including Hualing Pipeline, Huayin Electric Power, Yueyang Paper, TV & Broadcasting Media, have planned to refinance RMB 11.8 billion through targeted additional issue in 2007.
6. Hong Kong Investment Promotion Bureau offers good opportunities to Hunan enterprises
Today, Hong Kong Investment Promotion Bureau comes to make advertisements and promotion. It warmly applauds that Hunan enterprises make use of Hong Kong as the platform to go out and seek bigger space for development. Ms. Huang Haiyun, director-general secretary of Hong Kong Investment Promotion Bureau said, inland enterprises would confront many difficulties, like capital shortages and global marketing network when they decide to go out. As the centre of international finance, trade, business service, information and logistics, Hong Kong has set up 3,845 regional headquarters and offices of global enterprises by 2006, which makes it become the ideal platform for inland enterprises to explore overseas businesses. According to statistics of Chamber of Commerce of PRC, 269.5 inland enterprises which have come to Hong Kong to make investments up to US$ 7.82 billion had been approved and had their information kept on record by September of 2006. There are also Hunan enterprises like Nonferrous Metals and Zhuzhou CSR Times Electric which have come to the Hong Kong market. After its establishment, Hong Kong Investment Promotion Bureau has always devoted itself to helping inland enterprises to utilize Hong Kong platform and explore overseas markets. Now, it has offered ¡°one stop¡± service, opened national free information hotline of making investments in Hong Kong for inland enterprises, made out services like investments injection in Hong Kong and detailed teaching of investing in Hong Kong. Recently, it has set up an office in Chengdu city to make its commitments to go-out plan of Hunan , Sichuan and other provinces and cities. She also made it clear in the promotion, that Hong Kong Investment Promotion Bureau hoped to reinforce cooperation with Hunan enterprises with aspirations of going out, which will enable them to make better use of Hong Kong, the good economic and trade platform, accelerate development and explore overseas markets deeper.
7. Zhouqiang has a meeting with president of Economic Daily: Hunan is well prepared to accelerate its advancements reported by our newspaper on 22 nd , October.
¡° Hunan is well prepared to accelerate its advancements, which promises a better and faster development of economic society.¡± said Zhouqiang, vice secretary of provincial committee & acting governor of Hunan province when she has a meeting with Xu Rujun, president of Economic Daily. Xie Kangsheng, vice secretary of provincial committee, Jiang Jianguo, standing committee member of provincial committee, minister of advertising department accompanied Zhouqiang to have this reception. ¡°Chinese Economic Net is a must for me to browse and Economic Daily is a must for me to read.¡±- the first remarks of Zhou, which greatly reduced the guest-host distance. Zhou said, Economic Daily contained a great deal of information, support and advertised economic policies by central committee of CPC, the State of Council and regional economic measures, which is a very helpful for our work. I hoped that Economic Daily will make more advertisements and reports of Hunan , have more operations with Hunan and give more supports to Hunan .
Now, ¡°You are expected to put forward proposes!¡± activity is attracting great attention all over Hunan province. Zhou said, Hunan is to hold the 9 th CPC National Congress of Hunan province. Under the leading of comrade Zhang Chunxian, we held the ¡°embrace CPC National Congress, seek new track of common development¡± policies-pushing activity. I have carefully checked the draft and believe this activity will attract many Hunan citizens to participate. Well over 9,000 pieces of advice have been received and many of them are really good suggestions which will have a big influence and promoting effects on the development of Hunan economic society. It has a positive meaning for embracing CPC National Congress and making it a success, which is a beneficial movement for widely collecting people's wisdom and calling forth positive attitude of Hunan cadres and ordinary people, a beneficial explore for socialism democratic construction, and a beneficial practice for sharing a harmonious society.
When making introduction of development of economic society to the guests, Zhou talked about his feeling. He expressed that ¡° Hunan enjoys a sound development momentum and a solid development foundation¡±. He pointed, during ¡°10 ¡¤ 5¡± £¬ Hunan boasted an average annual growth rate of 10.3% in GDP and an average annual growth rate of 18.4% in fiscal revenue. This year, the development trend shows a rapid, steady and efficient momentum, which is very promising. Hunan enjoys all kinds of industries and a solid foundation for industry development. In particular, cadres of all layers and ordinary people all share an urgent aspiration for development and have an ambition for it. Since the 8th CPC National Congress, great achievements have been made in Hunan industrialization, agriculture industrialization and urbanization. Since this year, Hunan has made great efforts to administrate infrastructure and basic industries, carry out new industrialization, shape industry group, promote the economic integration of Changsha-Zhuzhou-Xiangtan and development of West Hunan, do research on ¡°3+5¡± city group construction and boost the coordinating development of regional economy.
Zhou said, Hunan enjoyed a profound culture background. Culture industry is a lightspot for Hunan . Its broadcasting & TV, publishing and cartoon industries all take vital positions in China . Hunan TV attracts the biggest number of audience in all regional TVs and ¡°Blue Cat¡± is the only famous cartoon brand in China . In addition, Hunan boasts great science and technology strengths and countless talents famous both at home and abroad. Yuan Longping is a good advertisement for Hunan and Huang Boyun academician is also that famous. With such good foundations, we again increase the understanding of the ¡°2 unprecedented¡± proposed in the Sixth Session of the Sixteenth Central Committee of the Party. ¡°We have to seize unprecedented opportunities and we also have to face unprecedented challenges¡±. Hunan is well prepared to leap forward.
Xu Rujun expressed heartfelt gratitude for concerns and supports of Hunan province showed to Economic Daily. He said, Economic Daily was organized by the State of Council and all of its reports were about service reforms and developing and steady situation, centering around economic construction, sticking to objective reports. Work which draw the attention of Hunan provincial committee and provincial government, such as ¡±embrace CPC National Congress, seek the new track to common development¡± proposals activity, will be closely traced, timely reported and carefully written about, which means a wide advertisement for Hunan.
