japan

japan

Korean imports in China reach double-digit figure for first time 한국, 중국 수입시장 점

46s ago
SOURCE  

Description

For the first time ever,... Korea′s outbound shipments to China have accounted for more than ten percent of China′s import market over a six-month period. This comes despite Korea′s exports falling in general. Kwon Soa has the details. The proportion of Korean imports in China in the first half of the year has risen by 1 percentage point from the same period last year... to 10-point-7 percent, reaching a double-digit figure for the first time ever. The proportion has been on a steady rise,... and is also widening its gap on Japanese imports in China,... since Korea supplanted Japan at the number one spot in 2013. This is good news as Korea′s exports in general... haven′t been doing well so far this year... due to weak global demand,... with outbound shipments to China...being no exception. Exports to China fell more than 7 percent in the first half of this year,... but considering China imported more than 19 percent less on-year during the same period,... it may not seem too bad for Korea. ″Although China has shifted its economic policy from an export focused growth strategy to one focusing on the domestic market,... Korean products seem to be maintaining high competitiveness compared to other countries.″ An example of that competitiveness can be seen in Korea′s top export to China. Memory semiconductors saw an increase by almost 17 percent in the January to June period,... from last year. The consumption market is also on the rise,... with Hallyu or the Korean wave expanding to include Korean cosmetics, baby and hygiene products. ″But some experts attribute the rise in Korea′s market share of Chinese imports to the deteriorating relations between China and Japan in recent years,... adding that the risks of continuous slowing demand will not abate in the short term. Kwon Soa, Arirang News.″