China Watch Blog

China Watch Blog has learnt that Taiwan`s exports grew year-on-year 46.2% in the second quarter of this year, the highest among Asia`s four little dragons, according to the Cabinet-level Directorate General of Budget, Accounting and Statistics (DGBAS).

Taiwan Economic News reported that in the same quarter Taiwan`s inflation stood at 1.1%, the lowest of the said four dragons; however, Taiwan`s jobless rate hovered 5% to 5.2%, the highest of the four, to which DGBAS officials attribute Taiwan`s changing industrial structure, and the rate is very likely to drop for the recent economic recovery.

Based on the information released by the International Monetary Fund, the global trade volume in 2009 sharply declined by 11.3% despite the world`s economic growth dropped by only 2%. The world`s economic growth may reach 3.6% this year, although the trade volume may jump by 9%.

Market observers said that Taiwan, as an export-oriented island, may achieve global levels of economic growth and trade.

Transport logistics professionals may want to note that.

China Watch Blog has learnt that the volume of total goods exports recorded a year-on-year increase of 23.1% in June.

The Census & Statistics Department said the volume of goods re-exports grew 23% over a year earlier, while that of domestic exports rose 28.6%. Concurrently, the volume of goods imports increased 24.1%.

The price of goods re-exports during the month rose 3.7% over a year earlier, while that of domestic exports grew 6.7%. Taken together, the price of total goods exports increased 3.8%. The price of goods imports rose 6.8%.

Comparing the first half of 2010 with the same period last year, the volume of goods re-exports grew 21.4%, while that of domestic exports increased 18.5%. Taken together the volume of total goods exports rose 21.4%. The volume of goods imports increased 26.7%.

During the first half of 2010 the price of goods re-exports rose 3.4% over a year earlier, while that of domestic exports increased 4.7% – thus the price of total goods exports grew 3.4%. The price of goods imports increased 5.2%

China Watch Blog has picked this news up that China’s exports rose 38.1 percent year on year to US$145.52 billion in July, but the growth rate was down from a 43.9-percent surge in June, the General Administration of Customs said.

Imports increased 22.7 percent from a year earlier to US$116.79 billion, while the pace of growth was slower than June’s 34.1-percent increase, according to a China Daily report.

China’s exports growth would continue to slow in line with an expected slowdown in economic growth in the United States and European Union from the third quarter, said Wang Tao, economist with the UBS Securities.

Wang said growth in exports would continue to outpace that of imports for the rest of the year and she expected the annual trade surplus to hit US$185 billion this year.

On a monthly basis, exports in July were up 5.9 percent from June, but July’s imports edged down 0.4 percentage point from the previous month, the administration said.

China Watch Blog has learnt that the value of Hong Kong’s total exports and imports of goods in June grew 26.7% and 31% year-on-year as the global economic recovery gathered momentum.

According to the Census & Statistics Department, the value of total exports, comprising re-exports and domestic exports, rose 26.7% to $267.6 billion, after a year-on-year increase of 24.4% in May. The value of re-exports rose 26.8% to $261.7 billion, while the value of domestic exports rose 25.3% to $5.9 billion.

The value of imports grew 31% to $298.2 billion, after a year-on-year increase of 29.7% in May. A visible trade deficit of $30.6 billion, equivalent to 10.3% of the value of imports of goods, was recorded.

For the first half the year the value of total exports rose 25.1% over the same period last year. The value of re-exports increased 25.1%, while that of domestic exports grew 22.7%. The value of imports of goods grew 31.9%. A visible trade deficit of $179.1 billion, equivalent to 11.3% of the value of imports of goods, was recorded.

Comparing the second quarter this year with the preceding quarter on a seasonally-adjusted basis, the value of total exports of goods rose 5.2%. Within this total the value of re-exports increased 5.5%, whereas the value of domestic exports fell 5.2%. The value of imports of goods rose 3.2%.

The department said the distinct expansion of merchandise exports expanded in June showing the robust growth of Asian markets and the gradual recovery in the advanced economies. However, the level of uncertainty in the external trading environment remains high, particularly in view of the austerity measures to be implemented in many European economies as well as the fading of the boosting effect from the earlier stimulus measures in the US economy.

China Watch Blog has picked up this news that the volume of Hong Kong’s total goods exports recorded a year-on-year increase of 19.2% in May.

The Census & Statistics Department said today the volume of Hong Kong’s goods re-exports rose 19.3% over a year earlier, while that of domestic exports rose 14.5%. Concurrently, the volume of goods imports increased 22.7%.

The prices of goods re-exports during the month rose 4% over a year earlier, while those of domestic exports increased 6%. Taken together, the prices of total goods exports increased 4.1%. Concurrently, the prices of goods imports rose 6.8%.

Comparing the first five months of this year with the same period in 2009, the volume of goods re-exports grew  21.1%, while that of domestic exports increased 16.4%. Taken together, the volume of total goods exports  increased 21%. The volume of goods imports rose 27.2%.

During the first five months, the prices of goods re-exports increased 3.3% over a year earlier, while those of domestic exports increased 4.3% – thus the prices of total goods exports went up 3.4%. The prices of goods imports increased 4.8%.

Comparing the three-month period ending May with the preceding three months on a seasonally adjusted basis, the volume of total goods exports increased 5.2%. Within this total, the volume of re-exports increased 5.4%, whereas that of domestic exports fell 0.9%. The volume of goods imports rose 2.1%.

China Watch Blog notes that Taiwan`s reliance on China as an export market has been growing, with exports to China and Hong Kong reaching US$56.75 billion in the first half, a record high.

According to the statistics released by the Ministry of Finance (MOF), from January to June the exports to China and Hong Kong took a lion`s share of 43% of the total, with the export value jumping 61.9% relative to that of last year, the highest growth of its kind.

In the first six months Taiwan`s exports to the six members of ASEAN (Association of Southeast Asian Nations) came to US$19.78 billion; while that to the United States, Europe and Japan totaled US$14.43 billion, US$13.72 billion and US$8.57 billion, respectively.

Lin Li-chen, director of the Department of Statistics under MOF, said that the EU debt problem will not impact Taiwan`s exports due to modest volume compared to other major nations`, with Taiwan focusing on only Germany and Holland.

However, Lin indicated that China may be impacted by the EU debts for shipping massive exports there, with Taiwan also suffering the ripple effect since China is Taiwan`s largest export outlet.

Taiwan`s total exports enjoyed a sharp annual growth of 49.2% in the first half and South Korea, Taiwan`s major trade rival, saw the corresponding percentage stand at 35%.

China Watch Blog has reported that the Mainland’’s trade growth continued on a fast track last month with the value of exports hitting the highest point in nearly two years, but the advancing paces of both exports and imports were slower form that in May.

Analysts warned, however, of uncertainties ahead because of the European sovereign debt crisis, the fading effect of a low comparative base and growing pressure from a stronger yuan.

China settled last month’s trade volume at US$254.7 billion, a record high since July of 2008, the General Administration of Customs said.

China’s export jump of 43.9 percent from a year earlier, to US$137.4 billion in June, was lower than the surge of 48.5 percent a month earlier.

The June gain in imports of 34.1 percent, to US$117.3 billion, was less than the gain of 48.3 percent in May, the Customs said.

The trade surplus in the first six months dropped 42.5 percent from a year earlier to US$55.3 billion, helped by faster growth in imports than exports in the previous months.

“China’s trade performance is quite impressive against the background of deteriorating crisis elsewhere in the world,” said Xue Jun, an analyst at CITIC Securities Co. “China’s strong and stable economy is a solid backup for the trade growth.”

Xue warned the exports advance may slow in coming months because of the debt crisis affecting the European Union.

Li Maoyu, an analyst at Changjiang Securities Co, said the tendency of a stronger yuan may also deal a blow to China’s exports, an important driver for China’s economy.

The yuan has appreciated against the US dollar to 6.78 from 6.83 since China announced last month to make its foreign exchange regime more flexible.

All interested wine exporters, please be informed that the Trade & Industry Department has started accepting applications for Hong Kong wine exporters’ registration which is to complement the customs facilitation measures the Mainland and Hong Kong will introduce for wine entering the Mainland through Hong Kong. The facilitation measures will be implemented as a pilot in Shenzhen soon.

The registration will facilitate the customs clearance of wine entering through designated ports in the Mainland, exported by designated Hong Kong exporters registered with the department, and imported by designated Mainland importers registered with Mainland Customs.

Through their Mainland import partners registered with Shenzhen Customs, registered Hong Kong exporters may, from June 15, make use of the facilitation measures at Shenzhen ports for their wine entering the Mainland through Hong Kong.

They may ask Shenzhen Customs to conduct wine duty valuation 10 working days before the shipment is imported into the Mainland. When the shipment arrives on the Mainland, Shenzhen Customs will normally complete the customs procedure within one working day.

If no pre-valuation has been conducted, Shenzhen Customs will normally complete the clearance within three working days for wine that has been imported into the Mainland before, provided that all necessary documents have been submitted.

For wine new to the Mainland market, the relevant process will normally take seven working days. If customs clearance cannot be completed within that timeframe, the Mainland importers may ask for release upon paying a guarantee deposit.

The registration is voluntary. Non-registered wine exporters may continue to export wine to Shenzhen in accordance with the general procedures of Mainland Customs.

Hong Kong companies interested in registering as a Hong Kong wine exporter should have engaged in wine business for not less than six months. Applications should be lodged at the department. The registration is valid for two years, with an application fee of HK$585.

Transport logistics professionals had better contact your wine exporter friends soon for business.