Sun Ji Wen, Deputy Director of Commerce Ministry's foreign trade, recently reported that China's total import and export value reached nearly US $980 billion in the first half of 2007, a year-on-year growth of 23.3 percent.
Of these, exports touched $546.7 billion, an increase of 27.6 percent over the corresponding period last year and imports marked $434.2 billion, up 18.2 percent. Trade surplus stood at around $112.5 billion.
During this period, general trade represented around $440.8 billion, a boost of 28.7 percent. Imports and exports through processing trade scored $440.9 billion, a growth of 17.6 percent. Exports increased 21.3 percent and imports rose 11.9 percent. Both general trade and processing trade achieved growth.
In the first six months, bilateral trade volume of Sino-EU, Sino-US and Sino-Japan represented $158.3 billion, $140.6 billion and $110 billion and were up 30.9 percent, 17.4 percent and 14.4 percent respectively.
EU remained the largest trading partner and export market whereas the US and Japan stood second and third respectively.
Exports of labor-intensive products grew steadily. Among them, textile and apparel exports marked $73.5 billion, a rise of 17.2 percent. Footwear exports registered $12 billion, a boost of 17.2 percent.
In the first six months, exports and imports by private enterprises increased 39.1 percent, accounting for 19.2 percent of the total trade. For foreign-funded enterprises, it swelled 21.3 percent, accounting for 57.5 percent of the total foreign trade. Business for state-owned companies grew by 17 percent, accounting for 23.3 percent.
Fibre2fashion News Desk - China
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