May 31, 2018 (China Knowledge) - China's April imports jumped 21.5% and its exports grew 12.9% against a year ago. Overall, China's trade balance was a surplus of USD 28.78 billion. Meanwhile, the country's trade surplus widened to USD 22.19 billion in April, compared to a surplus of USD 15.43 billion in March.
US continues to be ranked China's top export partner, with China's exports to US nearly 3 times to that of third-placed Japan. China top export products include computers, mobile phones, clothing, textile and integrated circuits.
While South Korea tops China's imports, the imports from the other countries e.g. Japan, Taiwan and US are quite close in magnitude. China's top import products include integrated circuits, crude oil, iron ore, plastic and automobiles. Of which, China's 24.58 billion imports of integrated circuit is more than 6-fold that of China's automobile imports. China has made chip development as one of its priority to boost its strength in technology and reduce dependence on foreign-made chips. These chips are essential for smartphones, computers and high end industrial and military products. The country wants local chips to be able to fulfil at least 40% of China's semiconductor needs in near future.
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