China is now known as the world’s number one supplier because of its penchant for manufacturing and selling affordable equipment, materials and goods. China, on the other hand, tilts its balance of trade to equilibrium by importing raw materials all over the world to support its awesome manufacturing industry. According to online sources, the United States exports to China are electrical machinery and equipment, power generation equipment, air and spacecraft, plastics, optics and medical equipment, iron steel, and oil seeds, oleaginous fruits. On a worldwide level, China’s top imports include mineral and fuel oil, power generation equipment, ores and medical equipment. This statistics show that China also needs raw materials that can be converted into finished products, which they would later export to developing countries. At the same time, it has been beefing up its own medical and aircraft technologies since the country is rapidly progressing. More and more millionaires are sprouting in China’s society everyday especially those who have engaged in the trading business. As a whole , China’s imports in 2009 decreased by as much as 16% as compared to 2008 according to PRC National Bureau of Statistics and PRC General Administration of Customs, China’s Customs Statistics. The worldwide recession has something to do about the decrease in import.

It is significant to look at the balance of trade statistics of China if they are interested in doing business with them. It can give an idea as to what products are still required by China. As of now, the countries that do business with China are the United States. Japan, South Korea, Germany, Australia, Malaysia. Singapore, India and even Hong kong. Statistics and numbers on China’s imports are readily available online. Universities usually provide for some of these statistics while the rest can be acquired on line. Trade associations also give reliable statistical data about China’s exports and imports. Other sources that can also provide data are Chamber or Commerce as well as bank sites online. For the latest updates and numbers about China’s trade industry, proceed to our website at…