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Embassy of India
Beijing
Trade and Commerce Wing
***
Commercial Report
May 2017
2 TRADE & COMMERCE WING
Table of Contents
1. Trends in India-China trade in January to May - 2017
(i) Bilateral Trade
(ii) Top 15 items of India’s exports to China
(iii) Top 15 items of global exports to China
(iv) Top 15 items of India’s imports from China
(v) Top 15 items of global imports from China
(vi) Top 5 competitors of top 15 exports from India to China
(vii) India-China Mutual Investments
(viii) China’s Global Investment
(ix) Significant trends in India-China trade and investment
2. Important statements of commercial significance by Chinese leaders
3. Market access (Alerts on tariff changes, non-tariff barriers)
4. Events organized by the Embassy during the period under report
5. Trade Queries received and replied during the periodregarding imports/exports between India and China
3 TRADE & COMMERCE WING
1. Trends in India-China trade in January to May 2017
(i) A. India-China Bilateral Trade (In US$ Billion)
India’s Trade with China
India’s Exports to
China
India’s Imports
from China
Total
Bilateral trade
Growth % of India’s Exports to
China
Growth % of India’s Imports
from China
6.997 26.39 33.39 46.29 13.96
Source: China Customs
(i) B. China’s Total Trade (In US$ Billion)
China’s Total Global Trade
China’s Total
Exports
China’s Total
Imports
China’s Total Trade
Growth % of China’s
Exports
Growth % of China’s Imports
853.80 686.52 1,540.31 4.45 19.55
Source: China Customs
(ii) Top 15 items of India’s exports to China (In US$ Million)
SN HS Code
Category Value % Share in total Import
Percentage (%) growth
Total 6,997 100 46.29
1. 26 Ores, Slag And Ash 1,253 17.9 164.16
2. 71 Nat Pearls, Prec Stones, Pr Met Etc; Coin
1,000 14.29 20.83
3. 74 Copper And Articles Thereof 799 11.42 71.99
4. 52 Cotton, Including Yarn And Woven Fabric Thereof
686 9.8 22.92
5. 29 Organic Chemicals 512 7.32 33.07
4 TRADE & COMMERCE WING
Source: China Customs
(iii) Top 15 items of global exports to China
(In US$ Billion)
SN HS Code
Category Value
% Share in total Import
Percentage (%) growth
Total 686.52 100 19.55
1. 85 Electric Machinery Etc; Sound Equip; Tv Equip; Pts
159.75 23.27 5.07
2. 27 Mineral Fuel, Oil Etc.; Bitumin Subst; Mineral Wax
102.20 14.89 59.58
3. 84 Nuclear Reactors, Boilers, Machinery Etc.; Parts
64.39 9.38 9.71
4. 26 Ores, Slag And Ash 54.02 7.87 61.75
5. 90 Optic, Photo Etc, Medic Or Surgical Instrments Etc
37.02 5.39 5.45
6. 87 Vehicles, Except Railway Or Tramway, And Parts Etc
30.45 4.44 14.62
7. 39 Plastics And Articles Thereof 27.73 4.04 17.76
8. 29 Organic Chemicals 22.82 3.32 33.63
6. 25 Salt; Sulfur; Earth & Stone; Lime & Cement Plaster
464 6.64 44.07
7. 72 Iron And Steel 283 4.04 385.11
8. 84 Nuclear Reactors, Boilers, Machinery Etc.; Parts
259 3.71 23.36
9. 85 Electric Machinery Etc; Sound Equip; TV Equip; Pts
211 3.02 15.07
10. 15 Animal Or Vegetable Fats, Oils Etc. & Waxes
165 2.36 26.51
11. 39 Plastics And Articles Thereof 164 2.34 57.13
12. 27 Mineral Fuel, Oil Etc.; Bitumin Subst; Mineral Wax
122 1.75 -5.27
13. 41 Raw Hides And Skins (No Furskins) And Leather
111 1.58 -4.7
14. 32 Tanning & Dye Ext Etc; Dye, Paint, Putty Etc; Inks
76 1.08 0.43
15. 28 Inorg Chem; Prec & Rare-Earth Met & Radioact Compd
70 1.01 41.74
5 TRADE & COMMERCE WING
9. 12 Oil Seeds Etc.; Misc Grain, Seed, Fruit, Plant Etc
18.07 2.63 31.7
10. 74 Copper And Articles Thereof 15.37 2.24 5.84
11. 30 Pharmaceutical Products 9.98 1.45 33.53
12. 44 Wood And Articles Of Wood; Wood Charcoal
9.02 1.31 17.95
13. 72 Iron And Steel 8.97 1.31 41.17
14. 47 Wood Pulp Etc; Recovd (Waste & Scrap) Ppr & Pprbd
8.80 1.28 27.86
15. 40 Rubber And Articles Thereof 8.21 1.2 57.73
Source: China Customs
(iv) Top 15 items of India’s imports from China
(In US$ Million)
SN HS
Code
Category Value % Share in
total Export
Percentage
(%) growth
Total 26,393 100 13.96
1. 85 Electric Machinery Etc; Sound Equip; Tv Equip; Pts
8,537 32.35 36.04
2. 84 Nuclear Reactors, Boilers, Machinery Etc.; Parts
4,719 17.88 10.61
3. 29 Organic Chemicals 2,572 9.74 7.47
4. 39 Plastics And Articles Thereof 1,152 4.36 18.09
5. 94 Furniture; Bedding Etc; Lamps Nesoi Etc; Prefab Bd
742 2.81 17.98
6. 90 Optic, Photo Etc, Medic Or Surgical Instrments Etc
694 2.63 1.37
7. 73 Articles Of Iron Or Steel 550 2.08 -5.44
8. 72 Iron And Steel 440 1.67 -33.43
9. 87 Vehicles, Except Railway Or Tramway, And Parts Etc
437 1.66 -8.51
10. 59 Impregnated Etc Text Fabrics; Tex Art For Industry
303 1.15 8.98
11. 70 Glass And Glassware 291 1.1 1.06
12. 76 Aluminum And Articles Thereof 291 1.1 11.41
6 TRADE & COMMERCE WING
13. 83 Miscellaneous Articles Of Base Metal
287 1.09 54.16
14. 64 Footwear, Gaiters Etc. And Parts Thereof
282 1.07 12.79
15. 62 Apparel Articles And Accessories, Not Knit Etc.
255 0.97 159.97
Source: China Customs
(v) Top 15 items of global imports from China
(In US$ Billion)
Source: China Customs
SN HS Code
Category Value
% Share in total Export
Percentage (%) growth
Total 853.80 100 4.45
1. 85 Electric Machinery Etc; Sound Equip; Tv Equip; Pts
214.75 25.15 3.08
2. 84 Nuclear Reactors, Boilers, Machinery Etc.; Parts
143.57 16.82 5.54
3. 94 Furniture; Bedding Etc; Lamps Nesoi Etc; Prefab Bd
35.43 4.15 -0.49
4. 62 Apparel Articles And Accessories, Not Knit Etc.
27.99 3.28 5.19
5. 39 Plastics And Articles Thereof 27.78 3.25 6.38
6. 90 Optic, Photo Etc, Medic Or Surgical Instrments Etc
26.92 3.15 3
7. 87 Vehicles, Except Railway Or Tramway, And Parts Etc
25.80 3.02 7.41
8. 61 Apparel Articles And Accessories, Knit Or Crochet
24.37 2.85 -10.35
9. 73 Articles Of Iron Or Steel 22.61 2.65 2.04
10. 29 Organic Chemicals 19.75 2.31 11.91
11. 64 Footwear, Gaiters Etc. And Parts Thereof
19.37 2.27 1.61
12. 72 Iron And Steel 18.52 2.17 11.85
13. 95 Toys, Games & Sport Equipment; Parts & Accessories
16.45 1.93 23.17
14. 27 Mineral Fuel, Oil Etc.; Bitumin Subst; Mineral Wax
13.44 1.57 47.07
15. 42 Leather Art; Saddlery Etc; Handbags Etc; Gut Art
11.54 1.35 2.09
7 TRADE & COMMERCE WING
(vi) Top 5 competitors of top 15 exports from India to China in Jan to May 2017
(In US$ Billion)
HS Code
Category Competitors Value % Share in
total Import
Total World 54.02 100.00
26 Ores, Slag And Ash
Australia 23.00 42.57
Brazil 8.06 14.92
Peru 4.19 7.76
South Africa 3.75 6.94
Chile 2.84 5.25
Total World 5.48 100.00
71
Nat Etc Pearls, Prec Etc Stones, Pr Met Etc; Coin
South Africa 2.21 40.43
Japan 0.37 6.71
Belgium 0.32 5.88
Russia 0.28 5.03
United States 0.19 3.47
Total World 15.37 100.00
74
Copper And Articles Thereof
Chile 3.36 21.86
Japan 1.15 7.45
Zambia 0.98 6.39
Taiwan 0.94 6.12
Australia 0.76 4.96
Total World 3.63 100.00
52
Cotton, Including Yarn And Woven Fabric Thereof
Vietnam 0.79 21.64
United States 0.67 18.51
Pakistan 0.36 9.84
Uzbekistan 0.22 5.96
Indonesia 0.12 3.29
Total World 22.82 100.00
29 Organic
Chemicals
Korea South 5.42 23.73
Japan 2.86 12.53
Taiwan 2.31 10.14
Saudi Arabia 2.04 8.92
United States 1.59 6.98
Total World 2.23 100.00
25
Salt; Sulfur; Earths And Stone; Lime And Cement Plaster
Turkey 0.36 16.21
Australia 0.19 8.32
United States 0.12 5.36
Saudi Arabia 0.11 5.03
Iran 0.11 4.71
8 TRADE & COMMERCE WING
Total World 8.97 100.00
72
Iron And Steel
Japan 2.43 27.11
Korea South 1.61 17.96
South Africa 0.74 8.20
Indonesia 0.67 7.50
Taiwan 0.60 6.67
Total World 64.39 100.00
84
Nuclear Reactors, Boilers, Machinery Etc; Parts Thereof
Japan 12.89 20.02
Germany 7.65 11.88
Korea South 6.94 10.78
United States 6.48 10.06
Taiwan 4.41 6.85
Total World 159.75 100.00
85
Electrical Machinery etc, Sound Equip; Tv Equip; Pts
Taiwan 32.95 20.62
Korea South 30.37 19.01
Japan 15.58 9.75
Malaysia 11.38 7.13
United States 6.91 4.32
Total World 3.38 100.00
15
Animal Or Vegetable Fats, Oils Etc. & Waxes
Indonesia 1.51 44.53
Malaysia 0.59 17.53
Canada 0.30 8.96
Ukraine 0.20 5.97
Brazil 0.10 2.91
Total World 27.73 100.00
39
Plastics And Articles Thereof
Korea South 4.42 15.94
Japan 3.71 13.37
Taiwan 3.35 12.08
United States 3.09 11.13
Saudi Arabia 1.57 5.67
Total World 102.20 100.00
27
Mineral Fuel, Oil Etc.; Bitumin Subst; Mineral Wax
Russia 11.02 10.79
Saudi Arabia 9.44 9.24
Angola 9.18 8.98
Australia 6.51 6.37
Oman 5.74 5.61
Total World 2.43 100.00
41
Raw Hides And Skins (No Furskins) And Leather
United States 0.53 22.00
Brazil 0.26 10.89
Italy 0.22 9.16
Australia 0.22 8.92
Korea South 0.13 5.25
Total World 1.81 100.00
9 TRADE & COMMERCE WING
32
Tanning & Dye Ext Etc; Dye, Paint, Putty Etc; Inks
Japan 0.38 21.04
Germany 0.22 12.22
Korea South 0.21 11.49
United States 0.20 11.29
Taiwan 0.18 9.70
Total World 3.88 100.00
28
Inorg Chem; Prec & Rare-Earth Met & Radioact Compd
Korea South 0.67 17.13
United States 0.50 12.86
Kazakhstan 0.41 10.58
Germany 0.39 10.16
Japan 0.28 7.14
Source: China Customs
(vii) India-China Mutual Investments*
Chinese Investment in India till May 2017
(cumulative)
US$ 4.929 billion
Chinese Investment in India (Jan-May 2017)
provisional (NON-FINANCIAL)
US$ 95 million
Indian Investment in China till May 2017
(cumulative)
US$ 720 million
Indian Investment in China (Jan-May 2017)
provisional (NON-FINANCIAL)
US$ 23.77 million
(*Provisional data by Chinese MOFCOM)
(viii) China’s Global Investment
China’s Outward FDI Flows (non-financial) January to May 2017
US$ 34.59 billion (-53% y-o-y)
Foreign Direct Investment in China January to May 2017
US$ 49.79 billion (-0.7% y-o-y)
Source: Chinese MOFCOM
10 TRADE & COMMERCE WING
(ix) Significant trends in trade and investment
S.N. Details of Significant Trends & Analysis
1. China’s Economy - January to May 2017: According to official data released by the National Bureau of Statistics (NBS), China’s manufacturing purchasing managers' index (PMI) came in at 51.2 in May 2017, which was the same figure that was registered in the month of April 2017. This indicates a continuation of the expansion of manufacturing activity in the country. China’s Consumer Price Index (CPI), a main gauge of inflation, rose 1.5% year on year in May 2017. China's Producer Price Index (PPI) - which measures costs of goods at the factory gate, rose 5.5% year on year in May 2017. The speed of the rise registered eased from the 6.4% registered in April, 2017.
In the period from January to May 2017, Chinese investors made direct non-financial investments to the tune of US$ 34.59 billion. This figure represents a notable decrease of 53% year on year.
In the period from January to May 2017, China’s actual use of Foreign Direct
Investment (FDI) amounted to US$ 49.79 billion registering a slight year on year
decrease of 0.7%.
2. Bilateral Trade - January to May 2017 : In the period from January to May 2017, India-China bilateral trade increased 19.5% year-on-year to reach US$ 33.39 billion. India’s exports to China increased by 46.29% year-on-year to reach US$ 6.997 billion. India’s imports from China saw a year-on-year growth of 13.96% to reach US$ 26.39 billion. The trade deficit for May 2017 stood at US$ 19.4 billion. India’s exports to China: The export of Ores and Slag to China showed an increase of 164.16%. Exports of iron and steel to China also showed a sharp increase of 385.11%. India’s cotton (including yarn and woven fabric) exports to China showed a growth of 22.92% to reach US$ 686 million-India was the second largest exporter of cotton to China with 18.88% market share. India was the second largest exporter of diamonds (worked/not worked) to China (US$ 994 million with a share of 34.39%) after South Africa. India was the largest exporter of Salt; Sulfur; Earths And Stone; Plastering Materials, Lime And Cement to China (US$ 464 million with 20.86% market share). India’s imports from China: China exported electrical machinery and equipment (HS Code: 85) worth US$ 8.54 billion showing year-on-year increase of 36.04%. Out of this, Electrical apparatus for line telephony (HS Code: 8517) constituted 38.03% of exports with a value of US$ 3.25 billion. India was the second largest export destination for Chinese organic chemicals, with exports worth US$ 2.57 billion and a market share 13.02%. India became the largest export destination for Impregnated, Coated, Covered Or
11 TRADE & COMMERCE WING
Laminated Textile Fabrics, and Textile Articles Suitable For Industrial Use with imports amounting to US$ 303 million and a market share of 10.2%. India became the second largest export destination for Chinese Miscellaneous Articles Of Base Metal, with imports amounting to US$ 287 million and a year on year increase of 54.16%. Imports of iron and steel from China showed a decrease of 33.43%. Imports of Apparel Articles and Accessories saw a growth of 159.97% to reach US$255 million.
2. Important India related statements of commercial significance by political leaders, think tanks, chambers, associations etc.:
Speech by H.E. President Xi at opening of Belt and Road forum on 15 May 2017 http://www.fmprc.gov.cn/mfa_eng/wjdt_665385/zyjh_665391/t1465819.shtml
Openness and inclusiveness. The ancient silk routes spanned the valleys of the Nile, the Tigris and Euphrates, the Indus and Ganges and the Yellow and Yangtze Rivers. They connected the birthplaces of the Egyptian, Babylonian, Indian and Chinese civilizations as well as the lands of Buddhism, Christianity and Islam and homes of people of different nationalities and races. These routes enabled people of various civilizations, religions and races to interact with and embrace each other with open mind. In the course of exchange, they fostered a spirit of mutual respect and were engaged in a common endeavor to pursue prosperity. Today, ancient cities of Jiuquan, Dunhuang, Tulufan, Kashi, Samarkand, Baghdad and Constantinople as well as ancient ports of Ningbo, Quanzhou, Guangzhou, Beihai, Colombo, Jeddah and Alexandria stand as living monuments to these past interactions. This part of history shows that civilization thrives with openness and nations prosper through exchange. Joint Communique of the Leaders Roundtable of the Belt and Road Forum for International Cooperation http://www.fmprc.gov.cn/mfa_eng/wjdt_665385/2649_665393/t1462012.shtml
We are mindful that the world economy is undergoing profound changes, presenting both opportunities and challenges. This is an era of opportunity, where countries continue to aspire for peace, development and cooperation. The UN 2030 Agenda for Sustainable Development with the set of Sustainable Development Goals at its core provides a new blueprint of international cooperation. In this context, we welcome bilateral, triangular, regional and multilateral cooperation where countries place emphasis on eradicating poverty, creating jobs, addressing the consequences of international financial crises, promoting sustainable development, and advancing market-based industrial transformation and economic diversification. We note with appreciation that various development strategies and connectivity cooperation initiatives have been put forward, providing broad space for strengthening international cooperation.
12 TRADE & COMMERCE WING
3. Market access
a. Alerts on tariff changes, non-tariff barriers (SPS/TBT measures, import
and export procedures/restrictions/prohibitions/licensing etc.); trade
policy developments.
S. N. Notification no. and date or other reference
Details of products, sectors affected (including HS codes)
Effective from
1 MOFCOM released a
Report on Foreign
Trade in China
(Spring, 2017)
The Comprehensive Department of the
Ministry of Commerce (MOFCOM) and the
Chinese Academy of International Trade
and Economic Cooperation jointly
released the Report on Foreign Trade in
China (Spring, 2017) on 4th May, 2017.
According to the report, challenges and
pressure facing the Chinese foreign trade
market mainly include: (1) the
groundwork for a rebound in external
demand still needs to be further
consolidated; (2) industry competition has
become increasingly intense; (3) the
effects of trade conflicts have become
more prominent. On the other hand, the
report points out, the long-term positive
outlook for the foreign trade sector has
not changed, and Chinese importers and
exporters have certain advantages and are
well-equipped to compete on the global
market. Relative to the last couple of
years, it adds, the overall environment is
expected to improve for the foreign trade
industry this year, although the situation
still remains tough and complicated. It is
estimated that China's imports and
13 TRADE & COMMERCE WING
exports will continue to stabilize and
improve going forward. However, given
the growing uncertainties, hard effort
must be made to ensure the fulfilment of
the full-year growth targets.
2 GAC lays down 12
priorities for
supporting the
implementation of
“the Belt and Road”
initiative
The General Administration of Customs
(GAC) recently issued the High Priorities
for Customs Supporting "the Belt and
Road" Program in 2017, setting out 12
"high priorities" covering port opening-up
and supervision, free trade area
development, law enforcement
cooperation, etc. The main objective is to
facilitate trade activities and infrastructure
interconnection, focusing on reforming
key customs operations, innovating
supervisory and regulatory models,
creating cooperation systems, in line the
rapid increase in trade, investment and
human resources exchanges between
China and other countries along the Belt
and Road. The high priorities mainly
involve the following five aspects: (1)
continuing to open up ports; (2)
establishment of relevant mechanisms; (3)
pushing forward trade facilitation; (4)
ensuring trade security; (5) deepening
international cooperation.
11.5.2017
14 TRADE & COMMERCE WING
4. Events organized by the Embassy during the period under report:
S.N.
Event Particulars
1. Roundtable on India-China Cooperation in Information Technology on 23 May 2017
This event was organized in partnership with the State-owned Assets Supervision and Administration Commission of the State Council (SASAC), People’s Republic of China. Around 70 representatives from prominent Chinese State Owned Companies based in Beijing like Sinopec, State Grid, China Unicom, Dongfeng Motors, China Merchants Group and China Aerospace Science and Technology Corporation (CASC) attended the event.
2. Roundtable on India-China Cooperation in Information Technology on 24 May 2017
This event was organized in partnership with the China Chamber of International Commerce (CCOIC) Around 60 representatives of major private Chinese companies like Mobike, Didi Chuxing, Shanghai Automotive Industry Corporation, Changan Motors and Media Company Toutiao participated in the seminar.
5. Trade Queries received and replied during the period regarding Imports/Exports
between India and China:
30 Trade Queries were received and responded to during the period of reporting.
******