Effect on trade not to last
By Wang Yanlin |
March 23, 2011, Wednesday
|
Print Edition
Print Edition
China's trade with Japan is certain to be affected by the recent earthquake and tsunami, but the impact will be short-lived, Ministry of Commerce spokesman Yao Jian said yesterday.
"The disasters in Japan will have an impact on bilateral trade between China and Japan in the short term," Yao told reporters at a press conference.
China imports more goods from Japan than any other country and Japan is China's fifth-largest export market. Trade between the two countries expanded to US$297.8 billion in 2010, accounting for about 10 percent of China's total trade.
Some of China's major imports from Japan, including electronics, vehicles and steel, are produced in the badly-damaged coastline areas in northeastern Japan.
"Trading activities of such products will be affected in a limited time, along with some bilateral investment schemes," Yao said.
There are about 200 Chinese companies with branches in Japan, and a huge number of Japanese investors have joint ventures or projects in China.
China's foreign direct investment jumped 27.09 percent from a year earlier to US$17.8 billion in February, while outbound non-financial foreign direct investment grew 13.1 percent to US$5.27 billion, Yao said.
Last month, China's export growth unexpectedly moderated to 2.4 percent, its slowest pace in 15 months, due to seasonal changes, a stronger yuan and higher production costs.
Yao also said that China would ensure supplies of food and goods to cope with emergencies like last week's "salt craze" when fears of nuclear radiation sparked a buying frenzy. He said the government would improve the supply system to avoid such situations happening again.
He said China had enough stocks of food and daily necessities to cope with such emergencies after years of good harvests and fast economic development.
He also said that the ministry would strengthen food safety controls after harmful additives were found in products from China's biggest processed meat producer.
A banned drug used to produce lean meat was found in frozen meat from the Jiyuan Shuanghui Food Co Ltd last week, triggering renewed concerns over China's food safety.
China will expand the program to track meat and vegetables throughout the whole production process to enhance food safety controls, Yao said.
"The disasters in Japan will have an impact on bilateral trade between China and Japan in the short term," Yao told reporters at a press conference.
China imports more goods from Japan than any other country and Japan is China's fifth-largest export market. Trade between the two countries expanded to US$297.8 billion in 2010, accounting for about 10 percent of China's total trade.
Some of China's major imports from Japan, including electronics, vehicles and steel, are produced in the badly-damaged coastline areas in northeastern Japan.
"Trading activities of such products will be affected in a limited time, along with some bilateral investment schemes," Yao said.
There are about 200 Chinese companies with branches in Japan, and a huge number of Japanese investors have joint ventures or projects in China.
China's foreign direct investment jumped 27.09 percent from a year earlier to US$17.8 billion in February, while outbound non-financial foreign direct investment grew 13.1 percent to US$5.27 billion, Yao said.
Last month, China's export growth unexpectedly moderated to 2.4 percent, its slowest pace in 15 months, due to seasonal changes, a stronger yuan and higher production costs.
Yao also said that China would ensure supplies of food and goods to cope with emergencies like last week's "salt craze" when fears of nuclear radiation sparked a buying frenzy. He said the government would improve the supply system to avoid such situations happening again.
He said China had enough stocks of food and daily necessities to cope with such emergencies after years of good harvests and fast economic development.
He also said that the ministry would strengthen food safety controls after harmful additives were found in products from China's biggest processed meat producer.
A banned drug used to produce lean meat was found in frozen meat from the Jiyuan Shuanghui Food Co Ltd last week, triggering renewed concerns over China's food safety.
China will expand the program to track meat and vegetables throughout the whole production process to enhance food safety controls, Yao said.
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