Mixed picture for trade in ‘One Belt, One Road’ plan
Print Edition
CHINA’S exports to countries and regions involved in the “One Belt, One Road” initiative grew 4 percent to US$191.5 billion in the first four months of this year, while imports shrank 23.2 percent to US$124.5 billion, the Ministry of Commerce said yesterday.
China’s trade with the related countries and regions fell 8.7 percent to US$316 billion in the January-April period, compared with a decrease of 7.3 percent on average, Shen Danyang, a ministry spokesman, said at a regular media briefing.
But the initiative has seen a rise of 10.9 percent in infrastructure project deals in the related areas to US$18.5 billion, or nearly half of all signed contracts. New orders also rose 16.4 percent to US$19.6 billion, or 34.5 percent of the total.
“Related countries and regions, mostly in Asia, have huge demand for infrastructure construction and consumption,” said Terence Chiu, head of commercial banking for HSBC in China.
Chiu said the demand for infrastructure opens up a huge opportunity for China’s trade and investment to expand.
Meanwhile, China’s outbound direct investment in the related countries and regions fell 3.9 percent to US$3.7 billion in the first four months, accounting for 10.6 percent of the overall outbound direct investment.
Singapore, Indonesia, Laos and Russia were among the main recipients of the investment, according to Shen.
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