By Li Panpan

(JW Insights) Aug 9 -- China's automobile export value registered at RMB383.73 billion ($53.32 billion), an increase of 118.5% year on year in the first seven months; IC imports numbered 270.17 billion and valued at RMB1.32 trillion ($183.43 billion), down by 16.8% and 16.2% year on year during the same time, according to the data from General Administration of Customs of China (GACC) on August 8.

In the first seven months of this year, China's total import and export value was RMB23.55 trillion ($3.27 trillion), an increase of 0.4% year-on-year. Among them, exports were RMB13.47 trillion ($1.87 trillion), an increase of 1.5%; imports were RMB10.08 trillion ($1.40 trillion), a decrease of 1.1%, creating a trade surplus of RMB3.39 trillion ($471.08 billion), an increase of 10.3%, showed the GACC data.

During that time, China exported RMB7.83 trillion ($1.09 trillion) of mechanical and electrical products, an increase of 4.4%, accounting for 58.1% of the total export value. Among them, automatic data processing equipment and its parts and components were RMB735.15 billion ($102.16 billion), a decrease of 19.8%; mobile phones were RMB462.36 billion ($64.25 billion), down by 6.5%.

The import of mechanical and electrical products was RMB3.53 trillion ($490.53 billion), a decrease of 10.6% from January to July. Among them, automobiles numbered 412,000, a decrease of 20.1%, with a value of RMB176.31 billion ($24.50 billion), down by 16%.