China's bulk commodities have more than 60% foreign dependency

China's bulk commodities have more than 60% foreign dependency

Core Tip: In 2011, China's bulk commodity top ten in the foreign dependence degree list without exception exceeded 40%, including soybean, natural rubber and Other varieties of foreign dependence more than 60%, showing that China's current economic growth is large The higher risk of product dependence.

According to a report released by the China Commodities Research Center, the top ten foreign trade dependence ratings of China's bulk commodities in 2011 exceeded 40% without exception, including over 60% of foreign varieties such as soybeans and natural rubber. There is a higher risk of China’s economic growth reliing on bulk commodities.

Data show that in 2011, the highest degree of dependence on domestic palm oil reached 100%, and the annual import volume reached nearly 6 million tons. The well-known industry publication Oil World is expected to be from October 2011 to September 2012 in China. Demand for palm oil in the market is likely to continue to increase by 750,000 tons to a level of 6.7 million tons.

In fact, the current domestic oil and fat industry has a relatively high degree of foreign dependence. More than 60% of edible oil products rely on imports from the international market. According to data from China Cereals, China's oil and fat production in 2010-2011 is 17.9 million tons, but with the upgrading of the consumption structure and the slow growth of oil crop production, the gap between domestic production and demand for oil and fat may reach 2320 by 2015-2016. Ten thousand tons, foreign dependence on imports is likely to rise to 75%.

At the same time, the external dependence of soybean, natural rubber and sulfur resources on the rankings exceeds 70%, of which the second-ranking soybeans have an external dependence of 79%, which is a natural product that combines the attributes of agricultural products, industrial raw materials and strategic materials. Rubber foreign dependence also reached 77%.

In addition, the external dependence of crude oil and iron ore also reached 56.5% and 50.8%, respectively, both exceeding the 50% boundary.

The total amount of imports shows that energy products including iron ore and crude oil and steel have become the main force for imports. Among the total external dependence of the 20 products with high external dependence, iron ore accounted for more than 50% of the total, plus energy products such as crude oil, both of which contributed almost 20 kinds of products to external dependence. Nearly 90% of the volume shows the huge “weight” of iron ore and energy products in the domestic economic development.

Song Zhichao, a researcher at the China Commodities Research Center, said that in 2011, China’s top ten high-dependence commodities had an external dependence of more than 40%. In fact, in recent years, except for a few commodities such as steel, the foreign dependence has decreased. Most of them have continued to rise, especially in the energy and non-ferrous metals industries.

"Although the foreign dependence rate is a warning line, there are certain differences in various countries, but the dependence of many products with a large demand on foreign products exceeds 50%, which undoubtedly poses a more severe challenge to the sustainable and rapid economic growth. "Analysts pointed out.