Thread by @ChinaFinance40

While #China’s #export to US has been negatively impacted due to #trade war, that to other countries were less affected, which has been more associated with global demand than shift in industrial chains, according to a recent report by Zhang Bin cf40.org.cn/uploads/ZB2019…

In response to US #tariffs, China has taken reasonable countermeasures to reduce negative effects on its own economy - not target technological products that account for large proportion of imports for which it’s difficult to find substitutes

China’s dependence on some of the US’s #technology-intensive industries is relatively high. It belatedly imposed tariffs on these goods, and the number of specific goods subject to China’s tariffs is relatively small.

Among products significantly affected by #trade war, #soybeans can be used as an example to show the effects of the trade friction on China’s import. China has been striving to increase its soybean production capacity,actively looking for substitute countries for soybean supply.

Despite this, the price of soybean imports has not increased significantly. This may be because 1. #China changed the countries from which it imports soybeans; 2. China’s soybean import volume has decreased, largely due to weakening domestic demand.