Recalculating Sino-US Trade Balance Using the Ownership-Based Statistical Method

Jiang Hong, Zhang Yi ying  and Han X uesong
School of Economics, Changzhou University, Changzhou, China
Tehua Postdoctoral Research Program, Beijing, China

Abstract: Using the trade statistical method based on asset ownership, this paper recalculated Sino-US bilateral trade volume and the result indicates that against traditional trade statistics, Chinese exports to the US reduced by an average of 51% while Chinese imports from the US increased by an average of 41% between 2004 and 2010. Balance of trade is in the range between US$2.189 billion of deficit and US$12.77 billion of surplus on the part of China, which are far smaller than the balance of Sino-US trade calculated by traditional statistical method. In order to reflect the real scale of China’s foreign trade and effectively respond to Sino-US trade frictions, it is necessary for China to establish its trade statistics system based on asset ownership.
Keywords: asset ownership, cross-border trade, Sino-US trade

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