In 2006, the total import and export volume of China's Minmetals chemical products was US$471.97 billion, an increase of 24.6%. Among them, exports of 180.51 billion US dollars, an increase of 32.5%; imports of 291.45 billion US dollars, an increase of 20.2%.
Last year, the import and export of China Minmetals' chemical products mainly exhibited several features:
The proportion of Minmetals chemical products in the country’s foreign trade has increased significantly. In the past three years, the foreign trade of Minmetals chemical products has grown rapidly, and the growth rate of exports and imports is higher than the national average, making the proportion of Minmetals chemical products in China’s foreign trade increase year by year. In particular, with the rapid development of China's economy, the demand for resource commodities has been continuously expanding, and imports have grown rapidly. This has led to a rising proportion of China Minmetals' chemical industry in China's imports. In 2006, Minmetals' chemical import and export volume accounted for 26.8% of the total import and export volume of the country.
Minmetals' chemical import and export structure has been continuously optimized. The export of Minmetals chemical products was dominated by industrial products, the proportion of primary products continued to decline, and the proportion of industrial products continued to rise. In 2006, export of industrial products in the Minmetals chemical industry was US$16.75 billion, an increase of 38%. The proportion of exports of primary products was 10.9%, a decrease of 3.6 percentage points from the previous year.
China Chemical Network finishing
In recent years, the import growth of primary products in Minmetals' chemical and chemical products has been substantially higher than that of industrial products, and the industrial structure of imported goods has been changed from industrial products to “primary†and primary products and industrial products “have accounted for half of each country.†In 2006, the import of primary products was US$14.05 billion, accounting for 48.2%; the import of industrial products was US$150.93 billion, accounting for 51.8% of the total. The proportion of primary products has risen, and the proportion of industrial products has declined. First, it shows that China's processing capacity has improved, indicating that the industry's import structure has been continuously improved, and secondly, it reflects the rapid economic development in China in recent years, and the demand for primary products continues to expand.
The import of resources products has increased rapidly, while the export volume has been declining, indicating that the Minmetals chemical industry is moving in a direction of “accelerating the transformation of foreign trade growthâ€. In 2006, imports of China's resource products such as crude oil, refined oil, coal, iron ore, natural rubber, and synthetic rubber increased rapidly. Crude oil imports reached 14.518 million tons, an increase of 14.5%; refined oil imports reached 36.38 million tons, an increase of 15.7%; coal imports 38.25 million tons, an increase of 46.1%; iron ore imports 32630 million tons, an increase of 18.5%; natural rubber imports 1.61 million Tons, an increase of 14.6%; imports of synthetic rubber 1.3 million tons, an increase of 19.2%. However, exports of resource products, such as coal, crude oil and refined oil, are declining. Coal exports 63.23 million tons, a decrease of 11.8%; crude oil exports 6.34 million tons, a decrease of 21.4%; refined oil exports 12.35 million tons, a decrease of 11.8%. The decline in exports of resource products and the increase in imports. First, China’s economy continues to grow at a rapid rate, leading to high demand for energy and resource products; second, the result of the country’s macroeconomic regulation and control. In 2006, the reduction or cancellation of export tax rebates was introduced. Efforts should be made to collect export tariffs, supplement catalogues for processing trade prohibition, and other measures to curb the export of resources. This trend is in line with China's national interests and industrial policies, showing that the Minmetals chemical industry is moving in a direction of "accelerating the transformation of foreign trade growth."
Strong growth in exports and imports to major trading partners. In 2006, Minmetals' chemical industry and EU bilateral trade increased rapidly. The EU surpassed Japan and became the largest trade partner in the industry. The bilateral trade volume was US$53.77 billion, an increase of 31.3%. Among them, 31.18 billion U.S. dollars were exported to the EU, an increase of 42.3%; 22.59 billion U.S. dollars were imported from the EU, an increase of 18.7%. Japan is the second largest trading partner in my industry, with a bilateral trade volume of US$50.32 billion, an increase of 14.5%. Among them, 16.67 billion U.S. dollars were exported to Japan, an increase of 11.0%; 33.65 billion U.S. dollars were imported from Japan, an increase of 16.4%.
The iron and steel trade is mixed. In 2006, China’s steel exports increased significantly, and imports decreased substantially, showing the phenomenon of “ice and fireâ€. Steel exports reached US$32.53 billion, an increase of 68.7%; imports were US$21.62 billion, a decrease of 17.9%. As the increase in exports was significantly higher than the increase in imports, China's large trade deficit from the same period last year was quickly transformed into a large trade surplus. The above transformation is not only a result of the improvement of the competitiveness of China's steel, but also a result of good international economic growth, and the result of international steel prices higher than domestic prices. China has ranked first in global steel production for several consecutive years.
The export situation of iron and steel is excellent, but there are still many issues that are worth worrying about. The first is the surge in exports, which could easily lead to trade protection investigations. The U.S. and EU’s trends in this area need to pay close attention. Once a trade protection case is established, not only its production and export will be immediately blocked, but it will also cause a chain reaction in the third country market. Second, the trade structure is irrational. Exports are mainly low-grade and low-value-added products, while imports are mainly high-grade and high-value-added products. In 2006, the average unit price of imported steel products was 1,072 US$/ton, the average export unit price was 587 US dollars/ton, and the average export unit price was only 54.7% of the average import unit price. Third, the constraints of iron ore resources. The high dependence on China's iron ore imports and the sharp rise in prices in recent years have greatly constrained the development of the steel trade. Fourth, the blind expansion of the steel industry, rapid growth in production, macro-control a long way to go.
Minmetals chemical industry private enterprises have developed rapidly. Of the total exports of petrochemical products in 2006, state-owned enterprises exported US$65.26 billion, up 19.8%, accounting for 36.2% of the total. The foreign-funded enterprises exported 66.17 billion U.S. dollars, an increase of 36.3%, accounting for 36.7% of the total. Private enterprises exported 49.09 billion U.S. dollars, an increase of 47.8%, accounting for 27.2%.
Last year, the import and export of China Minmetals' chemical products mainly exhibited several features:
The proportion of Minmetals chemical products in the country’s foreign trade has increased significantly. In the past three years, the foreign trade of Minmetals chemical products has grown rapidly, and the growth rate of exports and imports is higher than the national average, making the proportion of Minmetals chemical products in China’s foreign trade increase year by year. In particular, with the rapid development of China's economy, the demand for resource commodities has been continuously expanding, and imports have grown rapidly. This has led to a rising proportion of China Minmetals' chemical industry in China's imports. In 2006, Minmetals' chemical import and export volume accounted for 26.8% of the total import and export volume of the country.
Minmetals' chemical import and export structure has been continuously optimized. The export of Minmetals chemical products was dominated by industrial products, the proportion of primary products continued to decline, and the proportion of industrial products continued to rise. In 2006, export of industrial products in the Minmetals chemical industry was US$16.75 billion, an increase of 38%. The proportion of exports of primary products was 10.9%, a decrease of 3.6 percentage points from the previous year.
China Chemical Network finishing
In recent years, the import growth of primary products in Minmetals' chemical and chemical products has been substantially higher than that of industrial products, and the industrial structure of imported goods has been changed from industrial products to “primary†and primary products and industrial products “have accounted for half of each country.†In 2006, the import of primary products was US$14.05 billion, accounting for 48.2%; the import of industrial products was US$150.93 billion, accounting for 51.8% of the total. The proportion of primary products has risen, and the proportion of industrial products has declined. First, it shows that China's processing capacity has improved, indicating that the industry's import structure has been continuously improved, and secondly, it reflects the rapid economic development in China in recent years, and the demand for primary products continues to expand.
The import of resources products has increased rapidly, while the export volume has been declining, indicating that the Minmetals chemical industry is moving in a direction of “accelerating the transformation of foreign trade growthâ€. In 2006, imports of China's resource products such as crude oil, refined oil, coal, iron ore, natural rubber, and synthetic rubber increased rapidly. Crude oil imports reached 14.518 million tons, an increase of 14.5%; refined oil imports reached 36.38 million tons, an increase of 15.7%; coal imports 38.25 million tons, an increase of 46.1%; iron ore imports 32630 million tons, an increase of 18.5%; natural rubber imports 1.61 million Tons, an increase of 14.6%; imports of synthetic rubber 1.3 million tons, an increase of 19.2%. However, exports of resource products, such as coal, crude oil and refined oil, are declining. Coal exports 63.23 million tons, a decrease of 11.8%; crude oil exports 6.34 million tons, a decrease of 21.4%; refined oil exports 12.35 million tons, a decrease of 11.8%. The decline in exports of resource products and the increase in imports. First, China’s economy continues to grow at a rapid rate, leading to high demand for energy and resource products; second, the result of the country’s macroeconomic regulation and control. In 2006, the reduction or cancellation of export tax rebates was introduced. Efforts should be made to collect export tariffs, supplement catalogues for processing trade prohibition, and other measures to curb the export of resources. This trend is in line with China's national interests and industrial policies, showing that the Minmetals chemical industry is moving in a direction of "accelerating the transformation of foreign trade growth."
Strong growth in exports and imports to major trading partners. In 2006, Minmetals' chemical industry and EU bilateral trade increased rapidly. The EU surpassed Japan and became the largest trade partner in the industry. The bilateral trade volume was US$53.77 billion, an increase of 31.3%. Among them, 31.18 billion U.S. dollars were exported to the EU, an increase of 42.3%; 22.59 billion U.S. dollars were imported from the EU, an increase of 18.7%. Japan is the second largest trading partner in my industry, with a bilateral trade volume of US$50.32 billion, an increase of 14.5%. Among them, 16.67 billion U.S. dollars were exported to Japan, an increase of 11.0%; 33.65 billion U.S. dollars were imported from Japan, an increase of 16.4%.
The iron and steel trade is mixed. In 2006, China’s steel exports increased significantly, and imports decreased substantially, showing the phenomenon of “ice and fireâ€. Steel exports reached US$32.53 billion, an increase of 68.7%; imports were US$21.62 billion, a decrease of 17.9%. As the increase in exports was significantly higher than the increase in imports, China's large trade deficit from the same period last year was quickly transformed into a large trade surplus. The above transformation is not only a result of the improvement of the competitiveness of China's steel, but also a result of good international economic growth, and the result of international steel prices higher than domestic prices. China has ranked first in global steel production for several consecutive years.
The export situation of iron and steel is excellent, but there are still many issues that are worth worrying about. The first is the surge in exports, which could easily lead to trade protection investigations. The U.S. and EU’s trends in this area need to pay close attention. Once a trade protection case is established, not only its production and export will be immediately blocked, but it will also cause a chain reaction in the third country market. Second, the trade structure is irrational. Exports are mainly low-grade and low-value-added products, while imports are mainly high-grade and high-value-added products. In 2006, the average unit price of imported steel products was 1,072 US$/ton, the average export unit price was 587 US dollars/ton, and the average export unit price was only 54.7% of the average import unit price. Third, the constraints of iron ore resources. The high dependence on China's iron ore imports and the sharp rise in prices in recent years have greatly constrained the development of the steel trade. Fourth, the blind expansion of the steel industry, rapid growth in production, macro-control a long way to go.
Minmetals chemical industry private enterprises have developed rapidly. Of the total exports of petrochemical products in 2006, state-owned enterprises exported US$65.26 billion, up 19.8%, accounting for 36.2% of the total. The foreign-funded enterprises exported 66.17 billion U.S. dollars, an increase of 36.3%, accounting for 36.7% of the total. Private enterprises exported 49.09 billion U.S. dollars, an increase of 47.8%, accounting for 27.2%.
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