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Chinese imports grew 22.2% in the first two months of 2021

Chinese imports of products totaled $ 365.62 billion in the first two months of 2021, an increase of 22.2% annually.

On the one hand, the comparison base is low, considering that the country faced problems early last year from the Covid-19 pandemic.

At the same time, a two-month statistic is taken to smooth out distortions due to the Lunar New Year festival.

Among the main Chinese imports are electronic integrated circuits, iron, gas, cars, gold, telephone, soybeans and copper.

Although with greater difficulties than expected in recent years, China seeks to increase its imports to the extent that its plans are aimed at depending less on the outside in proportion to the inside of its economy.

China has also lowered its import tariffs on vehicles and other products, and plans to import more to meet the needs of its population.

As a consequence of its trade flows in both directions from January to February 2021, China reported a trade surplus of $ 103.26 billion.

Chinese imports

China’s exports posted their eighth consecutive month of growth.

Meanwhile, Chinese imports had their fifth consecutive month of growth.

China has continued its efforts to reform and harmonize customs procedures. About a third of imports are now declared through one-stop shops.

Chinese imports come mainly from South Korea, Taiwan, Japan, the United States, Australia, Germany and Brazil.

Regarding the aspect of its external sales, the Export-Import Bank of China (EXIM Bank) provides public financing for exports and the Credit and Export Insurance Corporation (SINOSURE) offers public insurance to cover export credit. .

Also, foreign-owned companies can access the services of EXIM Bank of China and SINOSURE.

Disbursements from both institutions increased during the period under review.

 

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