China-India trade rises to $14.2 bn
China-India bilateral trade rose fastest among China's top 10 trading partners during January to May.
By PTI |
BEIJING: Bilateral trade between India and China rose 53.7 per cent to 14.2 billion US dollars during the first five months of the year, witnessing the fastest growth rate among the Communist nation's top ten trading partners.
China-India bilateral trade rose fastest among the nation's top 10 trading partners during January to May, according to statistics released by the General Administration of Customs here today.
China's trade surplus in May soared tthe same period of last year, the customs figures showed.
The figure was close to February's 23.7 billion US dollars, the second highest monthly level on record.
Exports grew to 94.1 billion US dollars, up by 28.7 per cent year-on-year, a slight rise of 1.9 percentage point from April, it said.
Imports rose to 71.6 billion US dollars, increasing 19.1 per cent over the same period of last year, or about 2.2 percentage point higher from April.
Aggregate surplus for the first five months jumped 84 per cent year-on-year to 85.7 billion US dollars, it said.
A senior analyst with Chinese customs administration, Huang Guohua said the surplus growth in May reflected enterprises' response to the government's latest trade policy change.
Under the 'one China' policy, China does not favour countries having diplomatic ties with Beijing to have similar links with Taiwan.
Thus, India does not have any formal diplomatic ties with Taiwan but maintains an office in Taipei called 'India-Taipei Association'.
Analysts say Beijing's rather muted response to Ma's visit to India is due to the fact that he belongs to the pro-unification Kuomintang (KMT) party of Taiwan and not from the ruling Democratic Progressive Party (DPP) led by Taiwan President Chen Shui-bian, who is loathed by Beijing for his staunch pro-independence stance.
China-India bilateral trade rose fastest among the nation's top 10 trading partners during January to May, according to statistics released by the General Administration of Customs here today.
China's trade surplus in May soared tthe same period of last year, the customs figures showed.
The figure was close to February's 23.7 billion US dollars, the second highest monthly level on record.
Exports grew to 94.1 billion US dollars, up by 28.7 per cent year-on-year, a slight rise of 1.9 percentage point from April, it said.
Imports rose to 71.6 billion US dollars, increasing 19.1 per cent over the same period of last year, or about 2.2 percentage point higher from April.
ADVERTISEMENT
Aggregate surplus for the first five months jumped 84 per cent year-on-year to 85.7 billion US dollars, it said.
A senior analyst with Chinese customs administration, Huang Guohua said the surplus growth in May reflected enterprises' response to the government's latest trade policy change.
Under the 'one China' policy, China does not favour countries having diplomatic ties with Beijing to have similar links with Taiwan.
Thus, India does not have any formal diplomatic ties with Taiwan but maintains an office in Taipei called 'India-Taipei Association'.
ADVERTISEMENT
Analysts say Beijing's rather muted response to Ma's visit to India is due to the fact that he belongs to the pro-unification Kuomintang (KMT) party of Taiwan and not from the ruling Democratic Progressive Party (DPP) led by Taiwan President Chen Shui-bian, who is loathed by Beijing for his staunch pro-independence stance.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
