Overview of China's Economy and Trade (Part III)
In 2015, China's total foreign trade amounted to $3.956 trillion, ranking first in the world. In 2016, China's exports and imports fell by 7.7 percent and 5.5 percent respectively (in dollars), and the trade surplus was $509.9 billion.
In recent years, the weight of export processing trade has gradually declined. In 2007, export processing trade accounted for 51 percent of China's exports, and by 2016 it dropped to 34 percent. In 2016, the export of processing trade decreased by 10.3 percent.
In 2016, exports of machinery and equipment, electrical appliance and electronic products fell by 7.7 percent (in dollars), and exports of clothing and footwear fell by 9.6 percent and 12.1 percent, respectively. In the January-August period of 2017, exports of machinery and equipment, electrical appliance and electronic products grew by 8.0 percent (in dollars), exports of footwear grew by 5.2 percent, and exports of clothing stayed flat.
In 2016, China's 10 largest export markets were the US, Hong Kong, Japan, South Korea, Germany, Vietnam, India, Netherlands, the UK and Singapore. In the same year, China's exports to these ten major markets accounted for about 58.8 percent of total exports.
In 2016, exports of foreign-invested enterprises dropped by 8.7 percent, accounting for 43.7 percent of China's total exports. Imports of foreign-invested enterprises fell by 7 percent, accounting for 48.5 percent of China's total imports.
By the end of 2016, China approved a total of 864,304 foreign investment projects, and the actual utilised foreign direct investment was $1.7655 trillion. The largest sources of investment are Hong Kong, Taiwan, Japan, Singapore, the United States, South Korea, the United Kingdom and Germany.
In 2014, China's direct investment in overseas markets amounted to USD $123.1 billion (increased by 14.2 percent). In 2015, China's foreign direct investment increased by 18.3 percent to $145.7 billion, ranked the second after the United states in the world. By the end of 2015, China's stock of foreign direct investment reached $1.0979 trillion, ranked the 8th worldwide. Commercial services (mostly Investment holding companies), finance, wholesale and retail, mining and manufacturing are the main categories of China's foreign direct investment.
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