Yao Jingyuan, chief economist and spokesman with the National Bureau of Statistics briefed journalists on China's soaring imports at a press conference held by the State Council Information Office on July 17.

According to Yao Jingyuan, the growth rate of China's imports during the first six months of 2002 was 10.4 percent and advanced to 44.5 percent in the same period of this year. Therefore, China is currently experiencing a period of high growth of imports.

The growth rate of imports from Japan was 10.1 percent during the first six months of last year and jumped to 46.1 percent this year; the growth rate of imports from the United States was minus 2.3 percent during the first six months of last year and increased to 36.1 percent at the same period of this year. Both the growth rate of imports from the Republic of Korea and South East Asian Nations (ASEAN) reached over 50 percent during the first six months of this year.

Such high growth of imports has helped other trade partners to shake off economic recessions and inject vigor into their economic growth, making a contribution to the slow recovery of the world economy.

As to the main reasons for China's soaring import statistics, Yao Jingyuan explained it is because first, China has honored its commitments after its entry into the World Trade Organization and largely reduced its tariff level and second, it is also due to the high growth of China's economy especially in investment and industry.

Analyzing the structure of import commodities, there are mainly two categories: one is resources and raw materials that are in great shortage in China, the other is equipment of advanced technology, which have brought about high growth in import statistics. And the structure of such imported products has been very beneficial in supporting the high growth of China's economy.

(China.org.cn by Wang Qian July 18, 2003)