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Economy Corner

China’s trade data in the first half of 2022

The China Customs Statistics released data in July showing that in the first half of 2022, China’s foreign trade achieved steady growth, and the total import and export value of trade in goods was 19.8 trillion yuan (AUD$ 4.21 trillion), an increase of 9.4% year-on-year. Among them, China’s exports were 11.14 trillion yuan (AUD$ 2.37 trillion), an increase of 13.2% year-on-year; imports reached 8.66 trillion yuan (AUD$ 1.84 trillion), an increase of 4.8% year-on-year, resulting in a trade surplus of 2.48 trillion yuan (AUD$ 0.53 trillion).

Specifically, in terms of trade modes, the proportion of general trade imports and exports continued to increase. China's general trade import and export was 12.71 trillion yuan (AUD$ 2.70 trillion), an increase of 13.1%, accounting for 64.2% of China’s total foreign trade import and export value.

From the perspective of major trading partners, China’s imports and exports to ASEAN, the US and the countries along the Belt and Road Initiative maintained double-digit growth.

The major export products included:

  • mechanical and electrical products
  • textiles and garments
  • plastic products
  • shoes and other labour-intensive products.

The import of energy products included:

  • crude oil
  • natural gas
  • coal
  • other energy products.

It is expected that China’s foreign trade will continue to maintain steady growth in the second half of 2022 due to the unchanged fundamentals.

China Customs data also shows that the bilateral trade volume between China and Australia was 684.26 billion yuan (AUD$ 145.58 billion), down 4% year-on-year. Among them, Australia’s exports to China fell sharply by 13.1% in the first half of 2022 to 452.2 billion yuan (AUD$ 96.21 billion).

(Source: China CustomsMinistry of Commerce) (Note: $1AUD=¥4.70 yuan)

Business Training

VBCI provides tailored Chinese business culture training for business organisations and communities. If you want your team to understand more about Chinese business culture and master basic Mandarin phrases, this program is what you need.

Upon completion, participants are expected to be able to:

  • receive guests with simple greetings
  • chat with Chinese clients and colleagues on daily topics
  • express some opinions on different topics
  • understand Chinese culture in the business context
  • have a general understanding of the different cultures for North and South China
  • have a basic understanding of selected e-commerce platforms in China.

We can also tailor the program to best fit your needs.

Contact VBCI to discuss how we can help you most effectively. Email: [email protected].

 

Business Training Clients

I can't thank Feng Jieyun and Liu Chunxiao enough for reigniting my belief in my ability to learn a new language, and for giving me an opportunity to feel connected to my culture and my family each week in our classes. Each class has become a highlight of my week and helped me to remove my anxiety, my fear of failure and to trust in my love of learning and connecting, with people and culture.

Samantha Teo, Brand Manager at Life-Space Corporation, Melbourne.

I am so grateful that we can have VBCI with us to deliver such a fruitful program on behalf of the City of Melbourne. We have more confidence to better connect with Chinese tourists in Melbourne and I look forward to working together to build more and more cooperation so that more people can participate in the China Readiness program.

Mr. David Livingstone, Manager, City of Melbourne International & Civic Service

Disclaimer

Please note: This list of reports and resources is not definitive. Inclusion in this list does not imply endorsement by VBCI. The information provided is a guide only. The content is for information and carries no warranty; as such, the addressee must exercise their own discretion in its use.