Japan's exports to China hit a record high in March, and its dependence on China's trade i

People's daily, Tokyo, April 20 (Wu Ying) - according to the trade statistics released by Japan's Ministry of Finance on the 19th, Japan's exports to China in fiscal year 2020 (April 2020 to March 2021) and March 2021 both set new records. This shows that Japan's trade dependence on China has been increasing, and the Chinese market has become the biggest power to boost Japan's economy.

It is reported that Japan's exports to China in March this year were 1.6344 trillion yen (100 yen to RMB 6 yuan), a year-on-year increase of 37.2%, a record high, and the ninth consecutive month of growth.

Thanks to the early recovery of China's economy from the epidemic, Japan's exports to China in fiscal year 2020 reached 15.8997 trillion yen, a year-on-year increase of 9.6%.

Data from Japan's Ministry of Finance showed that, boosted by a new monthly high in exports to China, Japan's overall exports in March increased by 16.1% over the same period of the previous year, reaching 7.4 trillion yen, a new high since November 2017. Japan's exports are mainly semiconductor manufacturing equipment and other general mechanical and electrical assembly parts. On the other hand, the import of communication equipment and semiconductor components from China also increased significantly.

In addition, Japan's exports to the United States in fiscal year 2020 were 12.4416 trillion yen, a year-on-year decrease of 16.5%; Exports to the EU amounted to 6.4 trillion yen, down 12.5% year on year.