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Intellectual people
Although affected by the epidemic, Chinese companies still import a large amount of goods and materials from Vietnam, most of these products are low-value raw materials.
Specifically, according to the report of the General Customs Department, at the end of the 8 months of 2020, China still buys a large amount of fruits, seafood, cassava and rice from Vietnam. Vegetable, fruit and vegetable turnover reached $ 1.3 billion, seafood was $ 700 million, and cassava and cassava products was nearly $ 550 million. Particularly rice, China also increased the import of Vietnam reaching more than 536,000 tons, the turnover reached more than 316 million dollars.
China is actively buying a wide range of products from countries, in addition to food, rice also includes iron and steel, coal and crude oil for its long-term strategy.
It is worth mentioning, the clinker and cement that Vietnam exported to China in the last 8 months is very large with 12.6 million tons, the turnover is about 415 million dollars. Despite the crude, Vietnam exported 1.6 million tons to China, a turnover of more than 550 million dollars.
Textile fibers of all kinds, China also bought more than 570,000 tons from Vietnam, with a turnover of more than 1,200 million dollars. Footwear of all kinds exceeds 1.37 billion dollars. In particular, regarding steel, this country imported 2 million tons from Vietnam, a turnover of more than 844 million dollars, which represents 50% of the export turnover of this item from Vietnam.
The reason for the sharp increase in imports of many commodities by China is that various items such as seafood, vegetables or rice are part of the food storage strategy, essential to cope with diseases and floods in China.
Chinese raw materials and fuels that increase Vietnam’s purchases, such as crude oil, coal and ore, are part of a storage strategy to deal with the potentially more widespread trade war between the United States and China. National.
In particular, China increasingly imports fibers and textile materials from Vietnam rather than before Vietnam, mainly imported from China.
The fiber and textile industries are harmful to the environment and are subsectors in which many countries do not want to expand or receive investment. However, in recent times, several locations in Vietnam have expanded production in the fiber field, raising concerns about environmental pollution and making Vietnam a concentration of low value-added businesses in the chain of textile and of clothing.
As for steel exports increased by 50% to China, according to representatives of the Department of Import and Export Taxes, the General Customs Department said that the main items were steel billets and construction steel from the exported Formosan factories In the chain. subsidiary of China.
According to statistics from the General Customs Department, in the eight months of 2020, Vietnam exported 5.9 million tons of steel, with an estimated turnover of $ 3.1 billion. With an average price of around VND 12 million / tonne, Vietnam’s export price of steel is down nearly 20% from the same period last year.
In particular, China bought more than 1/3 of the steel previously exported, with 2 million tons, reaching a turnover of 844 million USD, the average price of 9.7 million / ton, 2.3 million lower / ton less than average export prices to other markets. This price is also almost 2 million VND / tonne lower than the price of the steel that this country bought from Vietnam last year.
An Linh
