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China Hand Chapter 2 Trade

  • ID: 2138657
  • Report
  • Region: China
  • 81 Pages
  • The Economist Intelligence Unit
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China's trade sector remains in the doldrums, at least respective to historic performance, and faces an uncertain 2017. Trade volumes have been affected by persistently soft global demand, while the value of trade flows have also slumped owing to falls in global commodity prices over 2014-16 (significantly tied to weaker demand in China for such items). The prospect of a ratcheting up in trade tensions with the US, China's largest goods export market, following Donald Trump's assumption of the US presidency also provides a cautious note about near-term prospects.

China's trade sector extended its weak performance in 2016. Total goods trade fell in US dollar terms by 6.8%, with exports and imports dropping by 7.7% and 5.5%, respectively, according to data from the General Administration of Customs. This compared with an overall fall of 8.1% in 2015, when exports fell by 2.9% and imports slumped by 14.3%. The country's trade surplus was US$510.1bn in 2016, down from 2015's record high of US$593.9bn.

Much of the weakness in imports, in particular, has been tied to weak global commodity prices. Oil prices slumped in mid-2014 and only showed signs of a sustained recovery in the second half of 2016. In volume terms, trade flows - while not spectacular - have been healthy. China's crude oil imports in 2016, for example, rose by 13.6% in volume terms, up from 8.8% growth in 2015. This points to steady underlying demand, as well strategic buying in the context of low oil costs.
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China Hand Chapter 2 Trade

Chapter 2: Trade: China's provinces and their capitals

Chapter 2: Trade: Section 1: Executive summary

Chapter 2: Trade: Section 2: China's foreign-trade system: Overview

Chapter 2: Trade: Section 2: China's foreign-trade system: Foreign-trade reforms

Chapter 2: Trade: Section 2: China's foreign-trade system: Open and transparent trading rules

Chapter 2: Trade: Section 2: China's foreign-trade system: Currency movements

Chapter 2: Trade: Section 3: Foreign-trade relations: Overview

Chapter 2: Trade: Section 3: Foreign-trade relations: Anti-dumping investigations

Chapter 2: Trade: Section 3: Foreign-trade relations: Regulatory responsibility

Chapter 2: Trade: Section 3: Foreign-trade relations: The WTO marathon

Chapter 2: Trade: Section 3: Foreign-trade relations: New non-tariff barriers

Chapter 2: Trade: Section 3: Foreign-trade relations: Agricultural issues

Chapter 2: Trade: Section 3: Foreign-trade relations: Transparency issues

Chapter 2: Trade: Section 4: Role of foreign trade in China's economy: Overview

Chapter 2: Trade: Section 4: Role of foreign trade in China's economy: Composition of exports

Chapter 2: Trade: Section 4: Role of foreign trade in China's economy: Composition of imports

Chapter 2: Trade: Section 4: Role of foreign trade in China's economy: China's major export centres

Chapter 2: Trade: Section 5: Direction and composition of China's foreign trade: Trade computation

Chapter 2: Trade: Section 5: Direction and composition of China's foreign trade: Still wanted--free-trade pacts

Chapter 2: Trade: Section 5: Direction and composition of China's foreign trade: The US

Chapter 2: Trade: Section 5: Direction and composition of China's foreign trade: Japan

Chapter 2: Trade: Section 5: Direction and composition of China's foreign trade: South Korea

Chapter 2: Trade: Section 5: Direction and composition of China's foreign trade: Hong Kong

Chapter 2: Trade: Section 5: Direction and composition of China's foreign trade: Taiwan

Chapter 2: Trade: Section 5: Direction and composition of China's foreign trade: Australia

Chapter 2: Trade: Section 5: Direction and composition of China's foreign trade: Europe

Chapter 2: Trade: Section 5: Direction and composition of China's foreign trade: Russia

Chapter 2: Trade: Section 5: Direction and composition of China's foreign trade: ASEAN

Chapter 2: Trade: Section 5: Direction and composition of China's foreign trade: India

Chapter 2: Trade: Section 5: Direction and composition of China's foreign trade: Pakistan

Chapter 2: Trade: Section 5: Direction and composition of China's foreign trade: Mongolia

Chapter 2: Trade: Section 5: Direction and composition of China's foreign trade: North Korea

Chapter 2: Trade: Section 5: Direction and composition of China's foreign trade: Africa

Chapter 2: Trade: Section 5: Direction and composition of China's foreign trade: Latin America

Chapter 2: Trade: Section 5: Direction and composition of China's foreign trade: Brazil

Chapter 2: Trade: Section 5: Direction and composition of China's foreign trade: Other Latin American states

Chapter 2: Trade: Section 5: Direction and composition of China's foreign trade: New trading directions

Chapter 2: Trade: Section 6: Trade finance: Overview

Chapter 2: Trade: Section 6: Trade finance: Import payments
Blocking customs clearance

Chapter 2: Trade: Section 6: Trade finance: Export credit

Chapter 2: Trade: Section 6: Trade finance: Trade insurance

Chapter 2: Trade: Section 7: Customs and inspections: Overview

Chapter 2: Trade: Section 7: Customs and inspections: The regulatory regime

Chapter 2: Trade: Section 7: Customs and inspections: Product safety standards

Chapter 2: Trade: Section 7: Customs and inspections: Customs clearance

Chapter 2: Trade: Section 7: Customs and inspections: Customs inspection

Chapter 2: Trade: Section 7: Customs and inspections: Plugging transfer-pricing loopholes

Chapter 2: Trade: Section 7: Customs and inspections: Health, safety and quality inspections
AQSIQ checks the standards
Hygiene inspections

Chapter 2: Trade: Section 7: Customs and inspections: New rules on hazardous substances

Chapter 2: Trade: Section 7: Customs and inspections: Benefits of bonded zones

Chapter 2: Trade: Section 7: Customs and inspections: Tighter rules on bonded goods

Chapter 2: Trade: Section 7: Customs and inspections: Useful contacts
General Administration of Customs
Ministry of Commerce
General Administration of Quality Supervision, Inspection and Quarantine
State Administration for Industry & Commerce
China Council for the Promotion of International Trade
State Intellectual Property Office

Chapter 2: Trade: Section 8: Non-tariff controls: Overview

Chapter 2: Trade: Section 8: Non-tariff controls: Import controls

Chapter 2: Trade: Section 8: Non-tariff controls: Import licences

Chapter 2: Trade: Section 8: Non-tariff controls: Contraband

Chapter 2: Trade: Section 8: Non-tariff controls: Export controls

Chapter 2: Trade: Section 8: Non-tariff controls: Export quotas and duties

Chapter 2: Trade: Section 8: Non-tariff controls: Export licences

Chapter 2: Trade: Section 8: Non-tariff controls: China abolishes rare-earth quotas and export tax

Chapter 2: Trade: Section 9: Tariffs: Overview

Chapter 2: Trade: Section 9: Tariffs: Administrative structure

Chapter 2: Trade: Section 9: Tariffs: Import duties

Chapter 2: Trade: Section 9: Tariffs: Tariff planning
Duty requirements for resident enterprises

Chapter 2: Trade: Section 9: Tariffs: Export tariffs

Chapter 2: Trade: Section 9: Tariffs: Consumption tax

Chapter 2: Trade: Section 9: Tariffs: Value-added tax
VAT zero-rating for services exports

Chapter 2: Trade: Appendix: Laws and regulations affecting trade
China International Economic and Trade Arbitration Commission Arbitration Rules (2015) *
Chapter I General Provisions
Chapter II Arbitral Proceedings
Section 2 Arbitrators and the Arbitral Tribunal
Section 3 Hearing
Chapter III Arbitral Award
Chapter IV Summary Procedure
Chapter V Special Provisions for Domestic Arbitration
Chapter VI Special Provisions for Hong Kong Arbitration
Chapter VII Supplementary Provisions
Editor's note: The following laws and regulations with previous Trade chapters.
Appendix: Laws and regulations affecting trade
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