China's trade surplus with United States rises

President Rodrigo Roa Duterte and People's Republic of China President Xi Jinping pose for

China's trade surplus with United States rises

"Every inch of our great motherland's territory can not be separated from China", President Xi said during a nationalistic speech at the National People's Congress in March, drawing huge applause.

"China's growth provided a strong engine for world economic growth and contributed more than 30 percent on average to world growth during the period", the NBS said.

Sales of new energy vehicles, mainly comprising electric and hybrid vehicles, jumped by over 117% year on year to 68,000 units last month.

At least twice this year, the US Navy UU It has deployed destroyers near the island of Huangyan Dao in the South China Sea, also known as Scarborough Shoal.

China's trade surplus with the United States surged almost 20 percent in the first quarter, with some analysts speculating exporters were rushing out shipments to get ahead of threatened tariffs that are spurring fears of a full-blown trade war.

Trump has imposed an additional import tariff on some 1,300 Chinese products worth Dollars 50 billion and directed to look into another round of additional tariffs worth USD 150 billion.

Imports rose 14.4 per cent to $179.1 billion, though that was down from 21.7 per cent growth in January and February in a possible indication of slower Chinese demand.

Honda's sales fell by 13% to 97,587 units in March with the brand hindered by engine problems which forced it to temporarily suspend sales of CRV and Civic models produced at its Dongfeng Honda Automobile joint venture last month.

Chinese exports to the United States rose 14.8% on a yearly basis, while imports grew 8.9%.

We may have differing perceptions on our borders but India and China coming together to try and bargain for lower oil prices from West Asian crude producers is a welcome step.

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"As the world's second largest economy, China played a crucial role in lowering the risks from world economic volatility with its stable growth", the NBS said.

That helped narrow its surplus with the USA in March alone to $15.43 billion from $20.96 billion in February, but that was still almost 18 percent higher than March 2017.

A week after escalating trade tensions with his threat to impose tariffs on an additional $100 billion in Chinese products, Trump said Thursday the two countries ultimately may end up levying no new tariffs on each other.

China's exports rode a global trade boom a year ago, expanding at the fastest pace since 2013 and serving as one of the key drivers behind the economy's forecast-beating expansion. We believe that expanding market access can play a vital role in increasing our agricultural trade surplus.

Indeed, the latest soundbites from Beijing will probably send the White House into fits of exasperation after China's trade figures were announced.

"But during a very brief conversation, I said, "President, the United States, we want to sell beef again to China".

On Tuesday, the Chinese premier promised at a news conference Beijing will "open even wider" to imports and investment as part of efforts to make its state-dominated economy more productive.

Under a so-called harmonised system of tariffs - Chinese products are now coded specifically so that the same product would face higher United States tariffs if used in a higher-tech sector like nuclear energy, rather than a more generic category like household electronics.

- Loan demand for the real economy picked up in the first quarter with the index for loan demand rising 5.2 percentage points from last quarter to 70.9 percent.

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