China has become the main export market for U.S. parts
According to data released by the U.S. Department of Commerce on the 25th local time, China has become a major export market for U.S. aircraft parts, auto parts, construction equipment, civilian nuclear energy, renewable energy, smart grid and other important industry products and technologies.
On the same day, the Bureau of International Trade of the Ministry of Commerce released a number of latest export reports involving more than ten industries in the United States. The report shows that China is the seventh largest export market for US aircraft parts and components. In the next 20 years, China is expected to become the world's largest market for aircraft parts demand. Boeing estimates that China will need to add more than 6,000 aircraft to meet its commercial shipping needs. At the same time, the Chinese helicopter and trainer market is also expanding rapidly. As China is actively developing its civil aerospace industry, the report predicts that American companies will face competition with Chinese companies in the future.
An export report on civilian nuclear energy said that China has worked hard to develop the nuclear energy industry to reduce its dependence on coal power generation, and currently has the largest number of nuclear power units under construction in the world. China is the largest export market for US civilian nuclear energy, and the two sides cooperate closely. Due to the slowdown in China's electricity demand growth, the pace of new nuclear power plant construction has slowed down, but the report predicts that China's nuclear power market will still bring huge business opportunities to U.S. companies in the next 10 years. In the field of education, the report believes that China will continue to maintain its status as the "largest source country of international students in the United States" in the next few years. At present, the number of Chinese students studying abroad accounts for about 31% of the total number of international students studying in the United States.
In addition, China is the third largest export market for U.S. auto parts products, the second largest export market for construction equipment, the seventh largest export market for smart grid product technology, the second largest export market for financial technology, and the third largest export market for manufacturing technology. .
But the report also sees challenges for U.S. exports in certain sectors. For example, although China is the eighth largest export market for US renewable energy products, due to the rapid development of domestic renewable energy in China, the exports of US companies currently account for less than 2% of China's total renewable energy imports.