| Sino-US trade surplus has been in a steady scale since 1994,and it raises sharply since the 21th century. In the long run, trade has been a major engine for China's economy, but its side effects are emerging. Such as the imbalance of internal and external macro economy, the pricking up trade frictions and overwhelming pressure on RMB's appreciation, in recent years, resolving the Sino-US trade surplus problem and returning it into a reasonable level is becoming a hot issue that governments and scholars concern about. Therefore, it has practical significance to study the commodity composition of Sino-US balance of trade.Regarding to the issue of commodity composition that forms Sino-US trade surplus, predecessors usually analyze one-digital commodities of SITC, but this essay uses three-digits commodities of SITC and classifies commodities from group 0 to group 9 into three-digits, then analyzes their contribution rates to trade balance, in this way this essay gains the characteristics of commodity composition that forms Sino-US balance of trade. The conclusion reveals that commodities which contribute a lot to Sino-US balance of trade are fuels that from primary goods and manufactured goods with low added value, that is,2group,6group,7group, and 8group. China's trade surplus is mainly caused by manufactured goods, and commodities of 6 group and 8 group contribute a lot to the trade surplus, it means at present Sino-US export composition is still characterized by labor-intensive goods, so trade surplus caused by capital-intensive and technology-intensive goods is the direction for composition optimization. One of the characteristics of this essay is to use three-digit commodities of SITC Rev.3 from US department of commerce database, and summarizes characteristics of the commodity structure of Sino-US balance of trade from many tables and graphs. In the end, the essay put forward pertinence suggestions on composition optimization of exports base on previously analysis. |
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