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Chinese auto exports fall 27pc as ex-Soviet trade barriers increase
TARIFF and non-tariff barriers by China's northern neighbours of the former Soviet Union have caused a sharp decline in the western Chinese auto exports since January, reports Xinhua.
According to the Xinjiang inspection and quarantine departments, it has handled a total of 139 batches of automobile exports as of February 20, down 27 per cent year on year with a 5.2 per cent loss in value to US$22.91 million.
The rapid decline was attributed to multiple reasons, such as the depreciation of Russia's currency ruble and Kazakhstan's tenge have brought huge losses to Chinese automobile exporters.
Also Russia, Belarus and Kazakhstan customs have imposed stringent regulations, under which Russian auto importers must pay a high recycling fee, which has damped export flow.
Besides, Uzbekistan has started to implement the decree of raising 50 per cent tariffs on imported cars since the start of 2014, resulting in some export orders from automobile enterprises had to suspend.
According to the Xinjiang inspection and quarantine departments, it has handled a total of 139 batches of automobile exports as of February 20, down 27 per cent year on year with a 5.2 per cent loss in value to US$22.91 million.
The rapid decline was attributed to multiple reasons, such as the depreciation of Russia's currency ruble and Kazakhstan's tenge have brought huge losses to Chinese automobile exporters.
Also Russia, Belarus and Kazakhstan customs have imposed stringent regulations, under which Russian auto importers must pay a high recycling fee, which has damped export flow.
Besides, Uzbekistan has started to implement the decree of raising 50 per cent tariffs on imported cars since the start of 2014, resulting in some export orders from automobile enterprises had to suspend.
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