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bandera China China: Apertura internacional

Foreign Trade in Figures | Trade Compliance | Standards

Foreign Trade in Figures

Trade represents almost a half of the Chinese GDP. After having achieved a record trade surplus over the past few years, China has become the world's primary exporter and ranks second among world’s largest importers. Chinese exports were increasing until a decrease due to the international financial crisis. For the first time in six years, China experienced a large trade deficit in March 2010, imports soaring due to a strong domestic demand, while exports were lagging behind due to the slowness of the global economic recovery. This phenomenon proved to be only temporary, the country again achieving a surplus the following month. in 2011 the trade surplus diminished due to the slowing down of the growth of exports, following the difficulties in the eurozone. A further worsening of the trade balance is to be expected in 2012.

China's main trade partners are the countries of South East Asia, the United States and the European Union.

 
Foreign Trade Indicators 20072008200920102011
Imports of Goods (million USD) 956,1161,132,5701,005,9201,395,0991,743,460
Exports of Goods (million USD) 1,220,4561,430,6931,201,6101,577,8201,898,600
Imports of Services (million USD) 129,254158,004158,107192,174236,479
Exports of Services (million USD) 121,654146,446128,599170,248182,047
Imports of Goods and Services (Annual % Change) 13.93.84.117.4-
Exports of Goods and Services (Annual % Change) 19.88.4-10.324.5-
Imports of Goods and Services (in % of GDP) 29.627.322.324.8-
Exports of Goods and Services (in % of GDP) 38.435.026.729.4-
Trade Balance (million USD) 315,381360,682249,509254,180-
Trade Balance (Including Service) (million USD) 307,477348,870---
Foreign Trade (in % of GDP) 68.062.249.054.2-

Source: WTO - World Trade Organization ; World Bank , Last Available Data

 

Main Partner Countries

Main Customers
(% of Exports)
2010
United States 18.0%
Hong Kong 13.8%
Japan 7.7%
South Korea 4.4%
Germany 4.3%
See More Countries 51.8%
Main Suppliers
(% of Imports)
2010
Japan 12.7%
South Korea 9.9%
China
7.7%
United States 7.4%
Germany 5.3%
See More Countries 57.1%

Source: Comtrade, Last Available Data

 

Main Products

Main Exports
(% of Exports)
2010
Automatic data processing machines and units...Automatic data processing machines and units thereof; magnetic or optical readers, machines for transcribing data onto data media in coded form and machines for processing such data, n.e.s. 9.4%
Electrical apparatus for line telephony or line...Electrical apparatus for line telephony or line telegraphy, incl. line telephone sets with cordless handsets and telecommunication apparatus for carrier-current line systems or for digital line systems; videophones; parts thereof 3.7%
Transmission apparatus for radio-telephony,...Transmission apparatus for radio-telephony, radio-telegraphy, radio-broadcasting or television, whether or not incorporating reception apparatus or sound recording or reproducing apparatus; television cameras; still image video cameras and other video camera recorders; digital cameras 3.7%
Cruise ships, excursion boats, ferry-boats, cargo...Cruise ships, excursion boats, ferry-boats, cargo ships, barges and similar vessels for the transport of persons or goods 2.2%
Diodes, transistors and similar semiconductor...Diodes, transistors and similar semiconductor devices; photosensitive semiconductor devices, incl. photovoltaic cells whether or not assembled in modules or made-up into panels (excl. photovotaic generators); light emitting diodes; mounted piezo-electric crystals; parts thereof 2.0%
See More Products 78.9%
Main Imports
(% of Imports)
2010
Electronic integrated circuits and microassembliesElectronic integrated circuits and microassemblies 11.3%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals, crude 9.7%
Iron ores and concentrates, incl. roasted iron...Iron ores and concentrates, incl. roasted iron pyrites 5.7%
Liquid crystal devices not constituting articles...Liquid crystal devices not constituting articles provided for more specifically in other heading; lasers (excl. laser diodes); other optical appliances and instruments not elsewhere specified in chapter 90 3.7%
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 2.1%
See More Products 67.5%

Source: Comtrade, Last Available Data

 
 

To go further, check out our service Flujos de importación-exportación.

 

Exchange Rate System

Local Currency
Chinese Yuan (Renminbi) (CNY)
Exchange Rate Regime
Currency exchange controls have been maintained, but operations on current accounts are no longer subject to it. As for free conversion of currencies, the Renminbi is not freely convertible yet.
Level of Currency Instability
Foreign exchange rate is low and underestimated. Foreign exchange rate is 7.46 yuan for 1USD, whereas the IMF estimates the parity at 1.96CNY for 1USD. The volatility of the currency will increase with international pressures on the government for a revaluation of the currency.
Exchange Rate on :

 
Monetary Indicators 20062007200820092010
Chinese Yuan (Renminbi) (CNY) - Average Annual Exchange Rate For 1 USD 7.977.616.956.836.77

Source: World Bank - Last Available Data.

 
 

Find out all the exchange rates daily on our service Conversor de divisas.

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Trade Compliance

International Conventions
Member of World Trade Organisation
Party to the Kyoto Protocol
Party to the Washington Convention on International Trade in Endangered Species of Wild Fauna and Flora
Party to the Basel Convention on the Control of Transboundary Movements of Hazardous Wastes and Their Disposal
Party to the Montreal Protocol on Substances That Deplete the Ozone Layer
Main International Economic Cooperation
Asia-Pacific economic cooperation Organization (APEC).
Bilateral Treaties and Accords.
AFTA and ASEAN - China Free Trade Area.
Consult the Free Trade Agreement signed by China
Party of the ATA Convention on Temporary Admissions and Use of the Carnets
Yes

As a Reminder, the ATA is a System Allowing the Free Movement of Goods Across Frontiers and Their Temporary Admission Into a Customs Territory With Relief From Duties and Taxes. The Goods Are Covered By a Single Document Known as the ATA Carnet That is Secured By an International Guarantee System.
Look Up the Other Member Countries And Read the Web Pages of the World Customs Organization Devoted to the ATA Carnet.
Party of the TIR Convention
No

As a Reminder, the TIR Convention and its Transit Regime Contribute to the Facilitation of International Transport, Especially International Road Transport, Not Only in Europe and the Middle East, But Also in Other Parts of the World, Such as Africa and Latin America.
The UNCTAD Website Allows You to Read the TIR Convention, See the List of Member Countries And to Find Further Information.
Accompanying Documents For Imports
Goods dispatched in China must be accompanied by the following documents:
- Certificates of origin
- The unique data folder (DAU)
- Commercial invoice (in 3 copies and in English.
)
- Sale contract in three copies
- A certificate of plant health (for food and agricultural products
)
- A health certificate (for meat
)
- A certificate indicating fit for human consumption
- A certificate of fumigation (for the wooden pallets).
- Certificate of Community origin (for imports coming from the EU.)
- Certificate of free sale for cosmetics.
- Transport documents and packing lists.
- Translation of the components/ingredients in Chinese.

To go further, check out our service Identifique los documentos de embarque para su operación.

Free Zones
The Waigaoqiao zone: the Jingqiao zone, the Lujiazui zone and the Zhangjiang zone.
The Zones are known as ZES: Shenzen, Zhuhai, Shantou , Xiamen, Qinghuandao
For Further Information
Customs
Ministry of Foreign Affairs
Ministry of Commerce
Non Tariff Barriers
Only companies or institutions authorized by the Ministry of Foreign Trade and Economic Co-operation (MOFTEC) can run foreign trade operations. Two methods are possible: Foreign Trade Companies or producing companies entitled to trade with foreigners (import for their personal use provided they have stable export balances). Today, there are nearly 9000 companies authorized to run foreign trade operations in China (14 in 1979).
More than half of value imports of China is subject to import licenses. Initial authorisation is issued by various organisations according to the product, but the final delivery is subject to acceptance by the MOFTEC. To obtain these authorizations, the importer must have exact foreign exchange reserves and justify the necessity to import. Delivery of licenses often depends on the sphere of activity, which may be encouraged, allowed, restricted or simply prohibited, according to the investments regulation promulgated by China. It is essential in all cases to have solids relations within the Chinese Administration for obtaining these licenses.
Many goods imported into China are subject to inspection. Prior inspection in the exporting country for certain products (textile in particular), or inspection at the port or the incoming airport to check that the products are well in conformity with the Chinese standards. These checks are carried out directly and exclusively by the Chinese authorities.
Sectors or Products For Which Commercial Disagreements Have Been Registered With the WTO
Paper, products containing metals (steel, iron, tin, etc), integrated circuits, automobile parts, intellectual property, etc.
Assessment of Commercial Policy
Pages of WTO dedicated to China
Barriers to exchanges, inventoried by the United States
Barriers to exchanges, inventoried by the EU
Sanitary and phytosanitary barriers, inventoried by the EU

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Learn more about How to Export to China on Globaltrade.net, the Directory for International Trade Service Providers.
 
 

Standards

National Standards Organizations
Standardisation Administration of China (SAC)
Chinese Association for Standardisation
Integration in the International Standards Network
SAC is the member of:
- The Internationale Standardisation Organisation (ISO) and of the International Electronic Commission (IEC)
- The APEC/SCSC, sub-committee of Standards and Conformity of the organisation of Asia- Pacific economic cooperation
- The ASEM/TFAP/SCA, Plan and Standards of action for facilitation of commercial exchanges and evaluation of conformity of the Asia-Europe Dialog (ASEM)
- The Congress of Standards for the Pacific Zone (PASC)
Obligation to Use Standards
Chinese standards are divided into two types, obligatory (for protection of public health, private property and safety) and voluntary (others).
Classification of Standards
List of Chinese Codes and Standards.
Assessment of the System of Standardization
Respect of standards is important for the Chinese.
Online Consultation of Standards
Publications relating to the Chinese standards of the SAC.
Certification Organizations
CCC Chinese Obligatory Certification
CNCA Administration of certification and accreditation of China
Certification organizations
AQSIQ
Associations of Standards Users
Chinese Association for Standardisation (CAS)

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Last Updates: May 2012

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