South China Morning Post:
Could you please give us the latest news about China-U.S. trade and China's purchases of U.S. goods under the phase-one economic and trade agreement? A previous study shows that less than 70% of the phase-one agreement has been completed in the first five months of this year. What other measures are there to promote the accomplishment of purchasing goals in the deal? Thanks.
Li Kuiwen:
Thank you for your questions. I will first brief you on China-U.S. trade in the first half of this year: Bilateral goods trade volume reached 2.21 trillion yuan, a year-on-year increase of 34.6%, and exports hit 1.64 trillion yuan, up 31.7%. Specifically, electromechanical exports reached 1.01 trillion yuan, up 34.2%, and labor-intensive exports hit 372.2 billion yuan, up 24.1%. As for specific products, exports of computers, cellphones, home appliances, garments, plastic products, and furniture have all increased.
Imports from the U.S. reached 570.65 billion yuan in the first half of this year, up 43.9%, including 238.86 billion yuan in electromechanical products, up 13.4%, and 136.01 billion yuan in agricultural products, up 120.8%.
As for the progress for implementing the first phase of the China-U.S. trade agreement, related departments have already made statements, and I have no more information to add. Thanks.
