China natural gas imports surge in 2017

13 January, 2018, 05:27 | Author: Brenda Erickson
  • CNA file

China saw its total import and export trade volume increase by 14.2 percent in 2017, ending two years of negative growth in the process.

Record imports by state energy firms and higher Chinese production have pushed down domestic wholesale LNG prices in north China. Indeed, China became the world's biggest global trader in 2013, but lost its position at the summit to the U.S. in 2016 following two hard years of difficulties.

Chinese customs will formally release data for trade with North Korea in the second half of the month, along with a breakdown by product. Imports soared 15.9% to $1.84 trillion, the strongest increase in six years.

The administration of U.S. President Donald Trump welcomed signs that China, North Korea's main economic partner, was "sharply reducing" trade with its neighbor.

Beijing has successfully fended off Trump's campaign rhetoric by making trade concessions, further opening up China's financial markets and signing US$250 billion worth of deals with the U.S. during the president's Beijing visit in November.

Chinese officials have threatened retaliation for any USA penalties in closed-door meetings with American officials and companies.

De Bruyne injured, Jesus out for 2 months
Having played for Liverpool and Manchester United, Owen already wasn't a particularly popular figure amongst Man City supporters. Asked about this after scoring in City's 3-1 win over Watford on Tuesday, Aguero told reporters: "I have until 2020, I think".


"The next stage is an open economy that focuses on a balance of trade", he said.

The "continued strength of China's exports to the U.S.is bound to add to U.S".

A commerce ministry spokesman, Gao Feng, said at a briefing on Thursday that China will "adopt all measures necessary to firmly protect the country's lawful interests and rights, should the US perversely take unilateral protectionist actions". Last month marked the first time since mid-2016 that imports grew slower than exports.

He estimated that imports declined by the biggest margin in nearly two years in volume terms in December as purchases of industrial commodities plummeted.

In 2016, China exported US$40.37 billion worth of goods to Taiwan while it imported US$139.2 billion, an annual decrease of 10.1 percent and 2.8 percent, respectively, the data showed.

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