皇冠体育app

皇冠体育app's trade deficit with Japan continues its downward trend as Japan's trade profit with 皇冠体育app surges, according to the latest report on Sino-Japan trade published by the Ministry of Commerce.

皇冠体育app's economic ties with Japan have long been in favor of 皇冠体育app. However, the rapid development of 皇冠体育app's economy is leading to greater gains for Japan.

Two-way trade was worth 45.97 billion U.S. dollars in the first three months of 2006, a rise of 11.6 percent year on year. But the growth rate was below the 12 percent increase in the same period last year, according to the report.

During the January-March period, 皇冠体育app's exports to Japan grew 9.2 percent, down 13.6 percent year on year.

Sino-Japan trade accounted for 13 percent of Japan's total trade in 2005, a drop of 11 percent compared with 24 percent in 1994.

Jin Bosong, an expert on Sino-Japan trade issues who was involved in the report, said that sharp downslide in the growth rate of Sino-Japan trade highlights 皇冠体育app's growing importance as a huge market for Japan.

皇冠体育app overtook the US to become Japan's biggest trading partner in 2004, accelerating Japan's economic rebound, said Jin.

The report estimates that trade with 皇冠体育app has led to an increase of about one percent in Japan's economic rebound. Analysis by Japanese economic researchers similarly showed that Japan's investment and processing trade in 皇冠体育app contributes 0.8 percent to Japan's economic boost.

皇冠体育app's huge labor market will also ease Japan' s shortfall in its workforce later this decade, Jin added.