China’s export diversification

China's export diversification

Liang Ming, director of the Institute of Foreign Trade of the Ministry of Commerce, said in a foreign trade seminar held in Ningbo that many people take it for granted that Sino-US trade friction has a greater impact on China. From the analysis of the data, it is not difficult to find that the United States is more than China. Withstand greater impact.

“The United States imposes tariffs on Chinese goods worth 300 billion U.S. dollars, and some Chinese goods account for 80% of U.S. imports. The U.S. side delayed some tariffs on Chinese goods to December 15 this year, just want to postpone tariff increases on the U.S. The influence of the common people.” Liang Ming further pointed out that the United States cannot do without Chinese goods. “The United States has 100% of goods imported from China. In general, a large number of US goods need to be imported from China, and some goods may be available. Other countries’ product substitution, but if the Sino-US trade war really continues, the US CPI may be further improved, which is the result that the US is unwilling to see.” Liang Ming pointed out that China’s main export commodities to the United States are organic electricity, mobile phones, and notebooks. Although computers account for a relatively high proportion, China can still diversify its export market and slow down the impact on exports to the United States.

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