The Chinese Economy in focus -- developments on growing agricultural deficit, slowing auto imports, and lower than expected export growth...

China's farm produce trade deficit up 14.3 times in first five months -- reports Xinhua

BEIJING, July 13 (Xinhua) -- China's trade deficit in agricultural products rocketed 14.3 times on the year-earlier level to 7.57 billion U.S. dollars in the first five months of this year, sources with the Ministry of Agriculture said on Sunday. ......................................

The five months saw the nation's net cereal exports decline drastically and trade deficit in animal by-products increase rapidly.

Between January and May, China exported 1.19 million tons of cereals, down 76.6 percent from the year-earlier level, but imported 911,000 tons, up 14.2 percent. The net exports stood at 276,000 tons, down 93.5 percent. .....................................

Click here to access the full article from Xinhua

China's auto import growth slows down in first five months

BEIJING, July 13 (Xinhua) -- Growth in China's auto imports slowed down in the first five months of this year, thanks largely to a compulsory coding system for standardizing vehicle purchase from abroad, according to General Administration of Customs. ........................................

Upon the tightened control, China's auto imports in April declined 7.5 percent from March level to 37,000 units, and in May, went further down 18 percent from April level to 31,000 units.

The customs said between January and May, China bought 171,000 motor vehicles from abroad, a growth of 59 percent on the same period of last year. The arrivals were valued at 6.26 billion U.S. dollars, up 74.9 percent. The import growth rate, however, was 15.7 percentage points lower than the first quarter level.

The total imports included 71,000 motor vehicles bought from Japan, up 100 percent, and 57,000 from the European Union, up 54 percent. The growth rates were 19 percentage points and 13 percentage points, respectively, lower than the first quarter level. ......................................

Click here to access the full article from Xinhua

Shock as China's Export Growth Falls John Garnaut Asia Economics Correspondent

CHINESE export growth has slowed to its lowest rate in at least five years, raising new risks for the world economy.

China's export volumes grew just 7 per cent in the year to June - down from sustained growth rates above 20 per cent before the middle of last year - and they are likely to fall further as key markets in the United States and Europe continue to deteriorate.

"It's signaling that by the end of the year we'll have zero export growth," said Stephen Green, an economist with Standard Chartered Bank in Shanghai. ...............................

Click here to access the full article from the Business Day Australia