China Trade Information

China is likely to surpass the U.S. to become India’s largest trading partner in this fiscal year, said Lv Kejian, Director of Department of Asia Affairs of the Ministry of Commerce.

He noted that although Asia faces economic slowdown, China’s economic and trade cooperation with other Asian countries still sees significant growth. Last year, China’s trade with India, Indonesia, Vietnam, Myanmar, Iran, Cyprus, Maldives and other countries grew more than 30%, compared with a year earlier.

Official statistics showed that during 2000-2007, China’s exports to India grew at the average annual rate of 49%, while imports from India increase by 43% on average.

In 2007, the trading volume between China and India amounted to US$38.6 billion, and the figure is expected to rise to US$60 billion in 2010.

As early as 2004, China had surpassed the U.S to be the largest trading partner with Japan. The country is also the largest trading partner, largest export market as well as the largest importer of South Korea, according to Lv Kejian.

Tags: export, exports, import, imports

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