Big data shows B&R cooperation yields win-win results

The Big Data Report on Trade Cooperation under the Belt and Road Initiative 2018, compiled by the national big data center of B&R Initiative under the State Information Center and the Dalian Infobank Co., was released officially on May 6.

Tong Youjun, director of the B&R foreign trade big data research center and chairman of Dalian Infobank Co., made an analysis on the report.

China's foreign trade with countries along the B&R routes has seen rapid growth, with import growth exceeding export growth for the first time. In 2017, the total import and export volume of China and the B&R countries reached 1440.32 billion U.S. dollars, up 13.4 percent year on year, which was 5.9 percentage points higher than China’s overall foreign trade growth rate, and accounting for 36.2 percent of the country’s total import and export trade volume.

In terms of countries, China's trade volume with Asia and Oceania accounted for more than 50 percent, of which China's trade with Central Asia saw the fastest growth. The Republic of Korea (ROK), Vietnam, Malaysia, India and Russia ranked the top five by foreign trade volume with China.

In terms of domestic regions, east China saw the total value of imports and exports in 2017 with the B&R countries accounted for nearly 80 percent of China’s foreign trade with those countries. Guangdong, Jiangsu, Zhejiang, Shandong and Shanghai were the top five by foreign trade with the B&R countries last year.

In terms of commodity structure, mechanical and electrical products were the key commodities that China exported to the B&R countries, while electrical machinery and mineral fuels belonged to the key commodities that China imported from those countries.

In terms of trade body, private enterprises were the main forces, while state-owned enterprises' trade volume with the B&R countries saw a sharp increase. In 2017, the total imports and exports volume between China’s private enterprises and their counterparts in the B&R countries stood at 619.98 billion U.S. dollars, accounting for 43.0 percent of China's total trade volume with those countries. State-owned enterprises saw the growth of imports and exports volume with the B&R countries grow the fastest, up 24.5 percent from that in 2016. 

Big data shows B&R cooperation yields win-win results

The Big Data Report on Trade Cooperation under the Belt and Road Initiative 2018, compiled by the national big data center of BR Initiative under the State Information Center and the Dalian Infobank Co., was released officially on May 6. Tong Youjun, director of the BR foreign trade big data research center and chairman of Dalian Infobank Co., made an analysis on the report. Chinas foreign trade with countries along the BR routes has seen rapid growth, with import growth exceeding export growth for the first time. In 2017, the total import and export volume of China and the BR countries reached 1440.32 billion U.S. dollars, up 13.4 percent year on year, which was 5.9 percentage points higher than Chinas overall foreign trade growth rate, and accounting for 36.2 percent of the countrys total import and export trade volume. In terms of countries, Chinas trade volume with Asia and Oceania accounted for more than 50 percent, of which Chinas trade with Central Asia saw the fastest growth. The Republic of Korea (ROK), Vietnam, Malaysia, India and Russia ranked the top five by foreign trade volume with China. In terms of domestic regions, east China saw the total value of imports and exports in 2017 with the BR countries accounted for nearly 80 percent of Chinas foreign trade with those countries. Guangdong, Jiangsu, Zhejiang, Shandong and Shanghai were the top five by foreign trade with the BR countries last year. In terms of commodity structure, mechanical and electrical products were the key commodities that China exported to the BR countries, while electrical machinery and mineral fuels belonged to the key commodities that China imported from those countries. In terms of trade body, private enterprises were the main forces, while state-owned enterprises trade volume with the BR countries saw a sharp increase. In 2017, the total imports and exports volume between Chinas private enterprises and their counterparts in the BR countries stood at 619.98 billion U.S. dollars, accounting for 43.0 percent of Chinas total trade volume with those countries. State-owned enterprises saw the growth of imports and exports volume with the BR countries grow the fastest, up 24.5 percent from that in 2016.