SCIO briefing on China's import and export performance of 2020
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E-mail China.org.cn, January 15, 2021
South China Morning Post:
I have two questions. First, according to the China-U.S. phase-one economic and trade agreement, China promised to import no less than $63.9 billion in additional goods in 2020 from the base of 2017. How did that go last year according to China's data? And what changes have occurred in procurement from the U.S. in the context of the U.S. presidential election and the current pandemic situation? Second, could you please provide some specific data on trade between China and Australia, including the December figures for coal, iron ore and liquefied natural gas imports from Australia? Has China already set coal import quotas for 2021, and will the ban on Australian coal imports be adjusted? In addition, after lifting a ban on scrap steel imports on Jan. 1 this year, will China reduce its iron ore imports from Australia? Thank you.
Li Kuiwen:
Thank you for your questions. Let me start by answering the first question. In terms of China-U.S. trade, I would like to brief you on the relevant data.
In 2020, the total value of China-U.S. bilateral trade in goods was 4.06 trillion yuan, an increase of 8.8%, accounting for 12.6% of China's total imports and exports during the period. Of this, exports to the U.S. reached 3.13 trillion yuan, an increase of 8.4%, while imports from the U.S. reached 931.87 billion yuan, an increase of 10.1%. In terms of exports, in 2020, China's exports of mechanical and electrical products to the U.S. reached 1.92 trillion yuan, an increase of 9%, accounting for 61.4% of the total exports to the U.S. in the same period. Of this, the export of laptops and cellphones increased by 23.4% and 4.6% respectively. During the same period, the export of labor-intensive products increased by 9.8%, and the export of pharmaceutical materials and drugs increased by 30.7%.
In terms of imports, in 2020, China's imports of agricultural products from the U.S. reached 162.74 billion yuan, an increase of 66.9%. Imports of soybeans, pork, cotton and crude oil grew by 56.3%, 223.8%, 121.7% and 88%, respectively. In addition, the import of automobiles was 60.01 billion yuan, down 4.1%.
As for your concerns about the implementation of the China-U.S. phase-one economic and trade agreement and the latest China-U.S. economic and trade trends, the relevant departments have already issued statements, and I will not repeat them here.
Regarding your second question, about Sino-Australian trade, let me first update you on trade between China and Australia.
In 2020, the total imports and exports between China and Australia reached 1.17 trillion yuan, down 0.1%. Of this, exports to Australia amounted to 370.23 billion yuan, up 11.2%, while imports from Australia were 796.35 billion yuan, down 4.6%. In terms of trading commodities, China's main export commodities to Australia in 2020 were mechanical and electrical products and labor-intensive products, accounting for 76.1% of its total exports to the country. The main commodities imported from Australia were iron ore and natural gas, which accounted for 70.6% of the total imports.
For other information on Sino-Australian trade, please consult the relevant authorities. Thank you.
Shou Xiaoli:
Now for the last two questions.
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