From January to July 2010, Guangdong's auto parts imported from Japan grew by nearly 40%

Japan is China’s third largest trading partner and Guangdong’s fifth largest trading partner. Since the beginning of this year, Guangdong has maintained double-digit growth in its import and export value, and its daily average trade deficit has remained at around US$2 billion. Statistics released by Guangzhou Customs on the 16th show that from January to July 2010, the total import and export value of Guangdong and Japan reached 37.8 billion U.S. dollars, an increase of nearly 40% from the same period last year. Among them, Guangdong exported 11.9 billion U.S. dollars to Japan, an increase of 30%, imports 25.9 billion U.S. dollars, an increase of 45%, a trade deficit of 14 billion U.S. dollars, and a substantial increase of nearly 60%.

Affected by the financial crisis, from November 2008 to October 2009, the import and export trade between Guangdong and Japan fell for the 12th consecutive month. Until November last year, they began to fall and rise again, and in July this year, they achieved growth for 9 consecutive months. . Data show that the total value of trade between Guangdong and Japan in July alone was the highest since the beginning of this year, with a total import and export value of 6 billion U.S. dollars, an increase of 26%, of which 4.1 billion U.S. dollars were imported from Japan, an increase of 24%, and 1.92 billion U.S. dollars were exported to Japan. 30% increase.

According to the analysis of the customs, Guangdong's trade with Japan experienced a significant increase. In addition to the gradual recovery of consumption in the Chinese domestic market and the increase in export capacity, the good trade cooperation between Guangdong and Japan has also effectively stimulated trade growth. At present, there are nearly 1,000 Japanese-funded enterprises in Guangdong. For example, Toyota, Honda, and Nissan, the three major automobile groups in Japan, have invested in establishing a vehicle factory in Guangdong, which has driven the investment in the entire automotive industry chain in the Pearl River Delta. And related industries have also developed rapidly on a larger scale. Data show that from January to July this year, Guangdong imported auto parts from Japan for 1.6 billion US dollars, an increase of nearly 40%. Since the signing of a memorandum of cooperation between Guangdong and Japan Trade Promotion Agency last year, the two sides have further strengthened their deep cooperation in the fields of energy conservation and environmental protection, low-carbon economy, advanced manufacturing, high-tech industries and modern service industries.

However, the Customs stated that there are still uncertainties in the development of the trade between Guangdong and Japan. Recently, the acceleration of the appreciation of the yen and the rise in the unemployment rate in Japan have brought pressure on Japan’s economic recovery. According to the data of the People's Bank of China website, the central parity rate of RMB against 100 yen once rose from 7.1922 on May 4th to 7.9233 on August 9, and the cumulative increase in three months has reached 10.2%. Under the background of the slowdown in the global economic growth, the continuous appreciation of the yen has caused the market's doubts about the Japanese economy to fall into recession quickly. In addition, negative factors such as increasing Japanese companies’ mergers and acquisitions with China and building high technical barriers in Japan will also affect the trade between Guangdong and Japan.