Bloomberg: 

I have two questions. First, looking at China's export data this year to a number of countries, including America, Malaysia, Thailand, and Singapore, it seems that China is exporting more than those countries say they are importing from China, which is impossible. Do you have an explanation for why China's export data for exports to Malaysia, Singapore and the U.S. is higher than their import data for imports from China? My second question is, why don't you release the USD data at this press conference? Most of China's trade is denominated in USD, and yet we only get the CNY data at this press conference. We have to wait an hour or longer for the USD data, which is more representative of the trend of Chinese trade. Can we have the USD data released at this press conference like it was in the past? Thank you.

Lyu Daliang:

Regarding your first question, I think it's about statistical discrepancy in bilateral trade, and I addressed this previously. The statistics from China's customs and those of its trading partners should theoretically be mirror images of each other. However, in reality, the statistics might not be completely consistent due to various reasons, such as re-exports to third places. Currently, China conducts comparative cooperation on trade statistics with some countries, but not with every country. All our data is publicly available online, and anyone interested in bilateral trade statistics can conduct their own analysis.

Regarding your second question, I believe it's a matter of currency denomination in import and export data. Since 2014, we have fully adopted local currency pricing, which means publishing China's import and export data in CNY. However, for the sake of continuity, we also release USD-denominated data online, as you mentioned. Both sets of data are published simultaneously: the CNY-denominated data is available both online and offline, while the USD-denominated data is only available online. You can check the USD-denominated data on our website if needed. Thank you.