General Administration Of Customs: China'S Trade Surplus Before July Decreased By 9.6% Compared With The Same Period Last Year.

Figures released by the General Administration of Customs on 11 may show that China's cumulative trade surplus of 123 billion 700 million US dollars in the first 7 months of this year dropped by 9.6% compared with the same period last year and a net decrease of 13 billion 100 million US dollars.

　　貿易順差同比回落

The trade surplus decreased compared with last year, which is related to the relative slowdown of China's exports and the relative acceleration of imports.

Figures show that China exported $802 billion 900 million in the first 7 months, an increase of 22.6% over the same period last year, and the growth rate slowed by 6 percentage points over the same period last year.

In the same period, China's imports amounted to 679 billion 200 million US dollars, an increase of 31.1%, and its growth rate was 11.6 percentage points faster than that of the same period last year.

At the same time, the continued decrease in the trade surplus is also related to the sharp rise in the average import price of primary products.

Statistics show that in the first 7 months, China imported 221 billion 650 million yuan of primary products, an increase of 70.6% over the same period last year, accounting for 32.6% of the total value of imports over the same period.

Among them, the average price of imported coal rose 51.9% compared to the same period last year, and the average price of imported soybeans increased by 78%.

　　今年呈上升趨勢

In July, China's import and export value was US $248 billion 70 million, an increase of 29.8% over the same period last year.

Of which, exports of US $136 billion 680 million, an increase of 26.9%, and imports of US $111 billion 400 million, an increase of 33.7%.

The trade surplus in July was about $25 billion 280 million, a net decrease of about US $900 million.

The trade balance between 1 and July in 2008 was 19 billion 490 million dollars, 8 billion 555 million dollars, 13 billion 407 million dollars, 16 billion 677 million dollars, 20 billion 210 million dollars, 21 billion 350 million dollars, 25 billion 280 million dollars, respectively.

It has been on the rise since February.

Industry experts believe that worries about the appreciation of the renminbi and the slowing down of external demand on the export industry are more worrying.

Moreover, the decision level has also brought favorable returns to the export of tax rebates for textile and other industries.

Wang Hongju, a macroeconomic expert at the Chinese Academy of Social Sciences, said the data show that the appreciation of the renminbi has not played a role in reducing the surplus.

Moreover, in the case of RMB appreciation, a favorable trade surplus is a good phenomenon for China's economic fundamentals, which can further expand the market share of large enterprises.

Don't be blindly optimistic.

Xue Rongjiu, vice president of the China World Trade Organization Research Council (director of the Ministry of Commerce), thinks that the surplus value is actually a surplus value of "goods trade", so a single value can not represent the whole trade face of China, so we should not be blind and optimistic about it.

The General Administration of Customs said that during the first seven months, the import of state-owned enterprises increased rapidly, and the import and export of collective and private enterprises increased significantly.

In the first 7 months, the import and export of state-owned enterprises was 363 billion 210 million US dollars, an increase of 32.8%, accounting for 24.5% of China's total import and export value in the same period.

Of which, imports of US $216 billion 120 million, an increase of 45.6%.

The growth of imports and exports of collective, private enterprises and other enterprises was strong. In the first 7 months, imports and exports reached 301 billion 270 million US dollars, an increase of 31.9%, accounting for 20.3% of the total import and export value of the same period.

Foreign investment enterprises imported and exported 817 billion 640 million US dollars, an increase of 21.9%, accounting for 55.1% of China's total import and export value in the same period.

In the bilateral trade with our main trading partners, China's trade surplus with the EU in the first 7 months was US $86 billion 940 million, an increase of 24.9% over the same period last year, and the surplus growth rate dropped 29 percentage points.

Over the same period, China's trade surplus with the United States increased by US $916.7, an increase of 3.8% over the same period last year, and the surplus growth rate dropped 15 percentage points.

China's trade deficit with Japan was US $23 billion 980 million, an increase of US $7 billion over the same period last year.

Members of the southern European countries producing textiles, shoes and furniture once again put pressure on the European Union headquarters to impose restrictive measures on cheap imports from China, according to Reuters.

Xue Rongjiu said that the division method of mechanical and electrical products is not very reasonable, and we can not be blindly optimistic about it.

If we have mechanical and electrical products with independent intellectual property rights, its export increase will contribute greatly to economic development; however, China's mechanical and electrical products are still in the processing of raw materials, and in fact they only earn labor processing fees.

In this case, the surplus itself has water.