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China Market Update
Story Date: 6/9/2021
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Source:Danny Ding, NCDA&CS, 6/8/21
Highlights from this week:
US Trade Representative and Treasure Secretary spoke with Chinese Vice Premier over several video conferences. Soon after, MOFCOM released a news article saying that Sino-US restarted normal communication for trade and economic fields.
In May 2020, fresh U.S. blueberries grown in select states were granted market access to China for the first time, part of the phase 1 trade agreement signed in January 2020. To date, 27 packing houses across six U.S. states have been approved to export blueberries to China and Chinese consumers are expected to be able to enjoy high-quality fresh U.S. blueberries for the first time this summer.
China’s economy will grow by 8.5% in 2021, an increase of 0.7% from the 7.8% forecast in March this year.
The value of agricultural products imported by China in the first four months of this year was approximately (US) $68.01 billion, a year-on-year increase of 32.8%, which shows that China's agricultural products are increasingly dependent on imports.
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