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The bilateral trade volume between south China's Guangdong province and Japan reached US$4.661 billion in the first two months of this year, up 45.3 percent over the same period of last year, according to customs statistics.
The province's exports to Japan, which focused on the processing trade, stood at US$1.684 billion.
Exports of Guangdong's overseas-funded enterprises and of new- and high-tech products have maintained fast-growing momentum, accounting for more than one third of the province's total exports to Japan.
However, despite Japan being the province's third largest trade partner, and the import and export trade between the two sides maintaining a favorable growth trend, the long-standing trade deficit between Guangdong and Japan has not been eased but rather further widened, according to the customs statistics.
Affected by the trade barrier set on farming products by Japan, the province's export of farming products to Japan has declined, with that of eel and vegetables dropping by more than 30 percent.
The province's clothing exports to Japan, however, hit US$100 million in the first two months this year, showing a slight increase.
According to the customs figures, the province's imports from Japan in terms of integrated circuits, micro-electronic components, rolled steel, plastic products, raw materials for basic industries and automobiles have recorded a sharp increase.
Many Japanese enterprises have stepped up investment in the province. Honda, Toshiba, Panasonic and some other giants have relocated their production bases to Guangdong or set up joint ventures, showing confidence in the economic development of the country.
The imports of Japanese electronic and basic industrial technologies have enhanced the scientific and technological content and product quality of the province's manufacturing sector and sharpened its competitive edge in world markets.
The customs authorities urged the relevant administrative departments to take measures to help and guide the local enterprises in organizing production and export in light of the standards set up by Japan, so as to effectively expand exports
(Xinhua News Agency March 26, 2003)
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