Chinese bearing import & export increased highly and export surplus reduced sharply (III)

III. Characteristics of bearing trade in China in 2002 1. USA antidumping duty rates for ball bearings from China China exported bearings, worth USD$667.1742 million, up by 21.7% per year from USD$113.9063 million in 1991. China exported bearings of USD$19.8621 million to USA in 1991, and USD$142.019 million in 2000, up by 24.43% per year. In 2001 China exported bearings for USD$90.697 million, down 4.71% from 95.182 million in 2000 because Bearing Industry Associate of USA decided to make antidumping lawsuit. In October 1st, 2002, U.S. Department of Commerce made a conclusion about the antidumping ball bearings and parts from Chinese: 2.29% preliminary margin of Xinchang Peer Bearing Company Ltd., 39.9% preliminary margin of Wanxiang Group Corporation, and 32.69% preliminary margin of Ningbo Cixing Group Corporation, the other 45 enterprises who responded to the persecution 22.99%, those enterprises who did not respond 59.3%. The preliminary conclusion made the U.S. importers and U.S. enterprises tremble and some of U.S. exporters asked to terminate their contracts. Because of the wrong calculation of the margin, U.S. Department of Commerce reported the revised margin on October 15, 2002. Chinese importers could accept the revised margin and they exported bearings of USD$162.817 million to U.S., up by 21.19% than last year, among which the exported ball bearings were worth USD$107.578 million, up by 18.61% than last year. 2. The export price of Chinese bearings become lower year after year Take ball bearings for example, in 1992 China exported 142.56 million sets of bearings, worth USD$121.5 million (about USD$0.85/set). In 1997 China exported 744.4 sets of bearings, worth USD$338.096 million (about USD$0.45/set). In 2002 China exported 1.42758 billion sets of bearings, worth USD$508.353 million (about USD$0.36/set). The export price is becoming lower and lower, although the average price has something to do with the size of bearings. The reason is that some enterprises compete at low price, which results in 3. The export surplus of Chinese bearing has been reduced sharply since China entering the WTO. ¡¡¡¡ ---------------------------------------------------------- ¡¡¡¡Year Export amount % Previous amount ¡¡ 10 thousand USD % % Import amount ¡¡¡¡---------------------------------------------------------- 1998 46231.85 23369.0 22862.85 1:0.5 ¡¡¡¡1999 51897.48 34624.3 17273.18 1:0.67 ¡¡¡¡2000 66717.42 44582.9 22134.52 1:0.67 ¡¡¡¡2001 68056.6 48988.6 19068.0 1:0.72 ¡¡¡¡2002 74439.5 64755.6 9683.9 1:0.87 ¡¡¡¡---------------------------------------------------------- Imported bearings' increasing sharply proves that Chinese bearings could not meet users' demands in quality and type. Chinese bearing enterprises must pay attention to the amount of imported bearings for USD$647 million. China entering the WTO brought the bearing industry opportunity and challenge. Chinese bearing enterprises could become stronger if they improve their product quality, manufacture brand product and build up competition competence. 4. The multiplicity of bearing export market 5. The exported products fastened too much on ball bearings, especially on miniature ball bearing. It needs to export more products with more added values.