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Taiwan fourth biggest exporter to China: DGBAS

2015/08/30 17:45:54

Taipei, Aug. 30 (CNA) Exports from Taiwan to China accounted for 8.5 percent of China's total inbound shipment in the first seven moths of 2015, making it China's fourth largest import source, the Directorate- General of Budget, Accounting and Statistics (DGBAS) said.

China's top three import sources during the period are South Korea (10.1 percent), the United States (9 percent) and Japan (8.6 percent), with Germany (5.4 percent) rounding up the top five, according to a DGBAS report issued on Aug. 25, which cited statistics released by China's General Administration of Customs.

In 2004, China's top five import sources were Japan (16.8 percent), the European Union (12.5 percent), Taiwan (11.5 percent), the Association of Southeast Asian Nations (11.2 percent) and South Korea (11.1 percent), according to a news release by the now-defunct Council for Economic Planning and Development in 2009.

With the rise of the "red supply chain," a fast-growing cluster of high-tech companies cultivated by Beijing, the impact of Taiwan's foreign direct investment in China on bilateral trade has dwindled in recent years and Taiwan's share of import fell to 8.5 percent in the first seven months of 2015, compared with 11.3 percent in 2005, the Commercial Times reported Sunday.

In the meantime, Japan's share of China's imports fell to 8.6 percent from 15.2 percent in 2005 and South Korea's to 10.1 percent from 11.6 percent, while commodities exporter Australia increased its share from 2.4 percent to 4.6 percent in the same period, the newspaper said.

The growth in China's dollar-denominated imports decreased to 0.4 percent year-on-year in 2014 and fell even further to minus 14.6 percent in the first seven months of 2015, compared with double-digit growths from 2002-2011, the DGBAS said.

This was caused by excess factory production, increase in self-produced goods and the effect of import substitution policy in China, the DGBAS said.

(By Kuo Chung-han)
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