Trade Between China And Japan Has Been Subjected To Strong Earthquake "&Nbsp"; Experts Say It May Turn Into A Favorable Balance This Year.

Japan's strong earthquakes, tsunamis and the leakage of nuclear power plants not only have a significant impact on the Japanese economy that has already entered the recovery channel, but also have a huge impact on Sino Japanese trade development. As Japan's nearest neighbor and largest trading partner, trade relations between China and Japan occupy an important share in Global trade. Japan's trade promotion agency said recently that it would urge trade between Japan and China to get out of natural disasters and malignant accidents at an early date.

Trade between China and Japan is likely to turn into favorable balance.

Customs statistics show that last year, the total value of bilateral trade between China and Japan was US $297 billion 770 million. From the annual data, China and Japan are the largest source of imports for each other. China is Japan's largest trading partner and the largest export destination. Japan has also become China's third largest trading partner and third largest export destination.

In the first quarter of this year, the total value of bilateral trade between China and Japan was 80 billion 780 million US dollars, an increase of 27.1%. However, customs officials said the impact of the earthquake on Sino Japanese trade was gradually emerging. China's long-standing trade deficit with Japan has been over $200 billion since 2002. Last year, China exported 121 billion 60 million US dollars to Japan, 176 billion 710 million US dollars from Japan, and a deficit of 55 billion 650 million US dollars to Japan. Experts analyzed that with the reduction of imports of food and spare parts from Japan, China's trade with Japan may turn from deficit to surplus this year.

China's import and export data in March showed that the growth rate of imports and exports in China and Japan slowed down compared with the previous two months. Experts predict that the slowdown in the growth rate of trade between China and Japan is expected to last for 3 to 4 months in the future, but the rate of slowdown will not be too great.

Zhang Li, an associate research fellow at the Ministry of Commerce and the Ministry of trade, said that the follow-up impact of Japan's major earthquake and nuclear accident should not be ignored. On the one hand, after the earthquake, Japan's related industries are limited in stock, so that products can not be exported on time and on schedule. On the other hand, Chinese domestic enterprises do not exclude the possibility of importing "made in Japan" to find other relatively stable sources of imports in order to prevent disruption of product supply chain. However, because of the stability characteristics of long term orders, the short list is the main reason, so the slowdown in Sino Japanese trade will not be too great.

Inventory can ensure normal operation.

At a regular press conference held at the Ministry of Commerce in China recently, Yao Jian, spokesman of the Ministry of Commerce, said that the scale of GDP in the northeastern part of the disaster area accounted for about 8% of Japan's economic scale, and that some products, such as electronics, automobiles and petrochemicals, which were quite large in the volume of Sino Japanese trade, had a certain impact on Sino Japanese trade in the short term.

Yao said that China's imports of several products from Japan, including integrated circuits, steel, automobile parts and automobiles, account for 22% of the total imports from Japan, and that the Sino Japanese economic and trade activities related to these products will be affected. China has a large number of Japanese processing trade enterprises, especially in areas such as Tianjin, Liaoning and Shandong. Strong earthquakes will affect the import of Japanese raw materials and components by these enterprises.

He said that the imported goods had considerable inventory in China and could guarantee the normal operation of production. In China, Japanese funded enterprises will also find alternative manufacturers in China to replenish production. But the resumption of normal trade between China and Japan is mainly dependent on the rapid recovery of the Japanese economy, because the main source of the industrial chain is in Japan. It is hoped that Japan's economy will recover quickly, so that trade between the two countries can be restored to normal as soon as possible.

There are corresponding substitutes for imported products.

Although Japan is China's largest source of imports from the data, Zhang Yan Sheng, director of the Foreign Economic Research Institute of the national development and Reform Commission, believes that the impact of the disaster on China's imports is limited because imports are mainly determined by China's domestic demand and that many imported products can be found to be replaced accordingly.

Xu Changwen, director of the Asia Africa Research Department of the Ministry of Commerce, said that the disaster was mainly caused by the northeast of Japan, where the production base of automobiles, electronic components and some building materials enterprises were imported. But on the other hand, many manufacturers of these products have moved to China or other regions, so they will not have a big impact on China's related industries.

In addition, from the point of view of the origin of Japanese goods imported from China, the main source of imports is not the affected area, but the economic center of Eastern, central and Kansai.