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China has become the main export market for U.S. components.

Release time:

2017-12-26

On the 25th, the U.S. Department of Commerce released data indicating that China has become a major export market for several important industries in the U.S., including aircraft parts, automotive parts, construction equipment, civilian nuclear energy, renewable energy, and smart grids. On the same day, the International Trade Administration of the Department of Commerce published several latest export reports covering more than a dozen U.S. industries. The reports show that China is the seventh largest export market for U.S. aircraft parts. In the next 20 years, China is expected to become a larger global market for aircraft parts, with Boeing estimating that China will need to add over 6,000 aircraft to meet its commercial shipping demands.

Data released by the U.S. Department of Commerce on the 25th local time shows that China has become a major export market for the U.S. in several important industries, including aircraft parts, automotive parts, construction equipment, civilian nuclear energy, renewable energy, and smart grid technologies.

On the same day, the International Trade Administration of the Department of Commerce released several latest export reports involving more than a dozen U.S. industries. The reports indicate that China is the seventh largest export market for U.S. aircraft parts. In the next 20 years, China is expected to become a larger global market for aircraft parts, with Boeing estimating that China will need to add over 6,000 aircraft to meet its commercial shipping demands. Meanwhile, the helicopter and trainer aircraft market in China is also expanding rapidly. As China actively develops its civilian aerospace industry, the report predicts that U.S. companies will face competition from Chinese companies in the future.

An export report on civilian nuclear energy states that China is striving to develop its nuclear energy industry to reduce its reliance on coal-fired power generation. Currently, China has the largest number of nuclear power units under construction in the world and is the largest export market for U.S. civilian nuclear energy, with close cooperation between the two sides. Due to a slowdown in the growth of electricity demand in China, the pace of new nuclear power plant construction has slowed, but the report predicts that the Chinese nuclear power market will still provide significant business opportunities for U.S. companies in the next 10 years. In the education sector, the report believes that China will continue to maintain its position as the "largest source country for international students in the U.S." in the coming years, with the number of Chinese students accounting for about 31% of the total number of international students in the U.S.

In addition, China is also the third largest export market for U.S. automotive parts, the second largest export market for construction equipment, the seventh largest export market for smart grid products and technologies, the second largest export market for financial technology, and the third largest export market for manufacturing technology.

However, the report also notes that in certain industries, U.S. exports face challenges. For example, while China is the eighth largest export market for U.S. renewable energy products, due to the rapid development of renewable energy in China, U.S. companies currently account for less than 2% of China's total renewable energy imports.

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China has become the main export market for U.S. components.

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