SCIO briefing on China's imports and exports in 2017

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Speaker:
Mr. Huang Songping, spokesperson of the General Administration of Customs

Chairperson:
Xi Yanchun, vice director-general of the Press Bureau, State Council Information Office

Date:
Jan. 12, 2018

Sydney Morning Herald:

China is an important trading partner of Australia. Do you have any updated figures on China's trade with Australia? Natural gas imports have grown substantially. What's the reason for this? Is it because of the shift in heating means from coal to gas?

Huang Songping:

Thank you for the question. Trade between China and Australia grew rapidly last year, as the bilateral free trade agreement continued to deliver benefits. In 2017, Our imports from and exports to Australia reached 923.41 billion yuan, year-on-year growth of 29.1 percent, and 14.9 percentage points higher than the growth rate of our total imports and exports. 

Specifically, exports to Australia totaled 280.56 billion yuan, an annual growth rate of 13.9 percent; imports reached 642.85 billion yuan, growing 37.2 percent. Our trade deficit with Australia was 362.29 billion yuan, a year-on-year increase of 63 percent. 

China is Australia's biggest export market. We account for over 30 percent of total Australian exports. I hope the current momentum in bilateral trade can be maintained. 

Regarding the import of natural gas, unfortunately I don't have the specific figures right now. As far as I know, there was indeed a big rise last year, and Australia was one of the major suppliers. There were many reasons for this, such as the growing domestic demand, stricter environmental protection rules, and the replacement of coal with natural gas for heating.

Thank you.


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