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China's trade with Japan hurt by disasters
By Wang Yanlin |
March 22, 2011, Tuesday
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Online Edition
Online Edition
CHINA'S trade will be affected by Japan's devastating earthquake and tsunami but the impact will be felt in a limited period of time, Ministry of Commerce spokesman Yao Jian said today.
He said China will ensure the supply of foods and goods to cope with any emergencies, such as last weeks' salt crisis caused by panic buying as people feared the nuclear radiation would affect salt supply.
Yao said the ministry also geared up food safety control after harmful additives were found in the products of China's biggest meat producer.
"The disasters in Japan will have an impact on bilateral trade between China and Japan in the short term," Yao said.
Japan is China's biggest import market and fifth largest export destination. Trade between the two countries expanded to US$297.8 billion in 2010, about 10 percent of China's total foreign trade.
Some of China's major imports from Japan, including electronics, vehicles and steel, were produced in the badly-damaged coastal areas in northeast Japan.
"Trading activities for these products will be affected in a limited period of time," Yao said.
China's foreign direct investment jumped 27.09 percent from a year earlier to US$17.8 billion in February, while the outbound non-financial foreign direct investment grew 13.1 percent to US$5.27 billion, Yao said at today's press conference.
He said China will ensure the supply of foods and goods to cope with any emergencies, such as last weeks' salt crisis caused by panic buying as people feared the nuclear radiation would affect salt supply.
Yao said the ministry also geared up food safety control after harmful additives were found in the products of China's biggest meat producer.
"The disasters in Japan will have an impact on bilateral trade between China and Japan in the short term," Yao said.
Japan is China's biggest import market and fifth largest export destination. Trade between the two countries expanded to US$297.8 billion in 2010, about 10 percent of China's total foreign trade.
Some of China's major imports from Japan, including electronics, vehicles and steel, were produced in the badly-damaged coastal areas in northeast Japan.
"Trading activities for these products will be affected in a limited period of time," Yao said.
China's foreign direct investment jumped 27.09 percent from a year earlier to US$17.8 billion in February, while the outbound non-financial foreign direct investment grew 13.1 percent to US$5.27 billion, Yao said at today's press conference.
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