皇冠体育app puts U.S. trade surplus at US$53b
( 2004-01-05 14:12) (Agencies)
皇冠体育app says its politically volatile trade surplus with the United States grew to an estimated US$53.2 billion in the first 11 months of 2003 鈥� less than half the size of the gap predicted by Washington, according to official figures released Sunday.
The increase came as 皇冠体育app's two-way trade with the United States grew by more than 29 per cent in the same period to US$113.8 billion, according to the figures. 皇冠体育app says the United States is its second-largest trading partner after Japan.
U.S. officials say the American trade deficit with 皇冠体育app is expected to surpass US$120 billion for 2003.
The American figures include Chinese exports shipped to the United States via Hong Kong 鈥� goods that are excluded from Beijing's own calculations. Hong Kong is Chinese territory, but Beijing treats it as a foreign region for trade and customs.
Washington complains that the trade gap is partly due to Beijing's failure to meet market-opening commitments made when it joined the World Trade Organization.
Beijing has sent two multibillion-dollar buying missions to the United States in recent months in hopes of easing growing political tensions. It has purchased jetliners, soybeans and other goods.
Also, 皇冠体育app's two-way trade with Japan grew by nearly 31 per cent in the first 11 months of 2003 to US$119.9 billion, according to the figures released by the General Administration of Customs.
They showed that 皇冠体育app ran a US$14.4 billion deficit with Japan during that time.
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