China. trade surplus was 310.26 billion, up 79%.

[hiseen]

Beijing, August 10 (Reporter Qi Zhiming) Learned from the General Administration of Customs:

In the first seven months of this year, China's total import and export value of goods was 17.41 trillion yuan, up 4.2% over the same period last year. Among them, exports reached 9.48 trillion yuan, up 6.7%. Imports reached 7.93 trillion yuan, up 1.3%. The trade surplus was 1.55 trillion yuan, up 47.4%. In July, China's total import and export value was 2.74 trillion yuan, up 5.7%. Among them, exports reached 1.53 trillion yuan, up 10.3%. Imports reached 1.21 trillion yuan, up 0.4%. The trade surplus was 310.26 billion yuan, up 79%.

In the first seven months of this year, foreign trade imports and exports showed the following characteristics:

General trade has increased and its proportion has increased. China's general trade import and export reached 10.4 trillion yuan, up 5.7%, accounting for 59.8% of China's total foreign trade value, up 0.8 percentage points from the same period last year. Among them, exports reached 5.57 trillion yuan, up 10.1%. Imports were 4.83 trillion yuan, up 1.2%. The trade surplus was 738.16 billion yuan, an increase of 1.6 times.

Imports and exports to major markets such as the EU, ASEAN and Japan grew faster than the overall growth rate for countries along the "the belt and road initiative" route. The EU is China's largest trading partner. China-EU trade totaled 2.72 trillion yuan, up 10.8%, accounting for 15.6% of China's total foreign trade. Among them, exports reached 1.64 trillion yuan, up 12.6%. Imports totaled 1.08 trillion yuan, up 8.2%. ASEAN is China's second largest trading partner with a total trade value of 2.35 trillion yuan, up 11.3%, accounting for 13.5% of China's total foreign trade value. Among them, exports reached 1.33 trillion yuan, up 15.8%. Imports reached 1.02 trillion yuan, up 6%.

The import and export of private enterprises grew rapidly, and their proportion increased. Private enterprises' import and export reached 7.31 trillion yuan, up 11.8%, accounting for 42% of our total foreign trade value, up 2.9 percentage points from the same period last year. Among them, exports reached 4.82 trillion yuan, up 14.2%, accounting for 50.9% of the total export value. Imports reached 2.49 trillion yuan, up 7.4%, accounting for 31.4% of the total value of imports.

Exports of mechanical and electrical products and labor-intensive products have maintained growth. China's exports of mechanical and electrical products reached 5.5 trillion yuan, up 6.1%, accounting for 58% of the total export value. During the same period, clothing exports totaled 561.26 billion yuan, up 2%. Toys totaled 102.85 billion yuan, up 31.7%.

 

[Nan Yang]

This is what economist have been predicting all along and is now happening.

Posted 16Sept2018
First, even the largest of ASEAN countries, Indonesia and Vietnam do not have enough skill manufacturing workers to make a different. A single province in China GuangDong has more skill manufacturing workers than Indonesia and Vietnam combine.

Second is the infrastructure. No need to discuss here. China wins hands down.

Third. The supply chain. All are in China. If you locate abroad, you still need to import the pieces and parts from China. Big disadvantage.

Fourth. China also have the worlds second largest and growing domestic consumption market. You will lose out on this market if you relocate abroad.

Fifth, relocating to ASEAN will not make a dent in the US trade deficit. It will only transfer it to another country. Maybe even increase it due to the cost of relocating.


Trump 'likely' to announce new China tariffs as early as Monday

 

[oprih]

Good job China! meanwhile murica's economy continue to deteriorate, clear sign that the death of this evil empire is near.