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| Version 1 | Version 2 |
|---|---|
| China tops US over Japanese trade | China tops US over Japanese trade |
| (10 minutes later) | |
| China has overtaken the US as Japan's biggest trading partner for the first time since World War II, the Japanese finance ministry has revealed. | China has overtaken the US as Japan's biggest trading partner for the first time since World War II, the Japanese finance ministry has revealed. |
| Japan's total trade with China totalled 25.43 trillion yen ($215bn; £107bn) in the year to 31 March, it said. | Japan's total trade with China totalled 25.43 trillion yen ($215bn; £107bn) in the year to 31 March, it said. |
| The trade is being driven in part by Japanese firms shifting manufacturing work to China to take advantage of cheap labour costs there. | The trade is being driven in part by Japanese firms shifting manufacturing work to China to take advantage of cheap labour costs there. |
| The figure for the US in the same period was 25.16 trillion yen. | The figure for the US in the same period was 25.16 trillion yen. |
| The figures were released as the finance ministry said Japan's trade surplus widened 74% from a year earlier to a fresh record high for March. | The figures were released as the finance ministry said Japan's trade surplus widened 74% from a year earlier to a fresh record high for March. |
| Japan's trade surplus, the difference between what it exports and imports, hit 1.633 trillion yen last month, buoyed by a weaker yen and exports to China. | Japan's trade surplus, the difference between what it exports and imports, hit 1.633 trillion yen last month, buoyed by a weaker yen and exports to China. |
| Market expectations had been for a surplus of 1.36 trillion yen. | Market expectations had been for a surplus of 1.36 trillion yen. |
| 'Growing trend' | 'Growing trend' |
| "I think the trend of growing trade with China will continue," said finance ministry official Koichi Nose. | "I think the trend of growing trade with China will continue," said finance ministry official Koichi Nose. |
| "This reflects the gradual shift of production by Japanese firms to China." | "This reflects the gradual shift of production by Japanese firms to China." |
| Japanese firms are also shifting more of their production to China to better gain a foothold in the fast-growing domestic Chinese economy. | |
| "For Japan, a very large market has emerged next door," said Senshu University economics professor Hideo Ohashi. | "For Japan, a very large market has emerged next door," said Senshu University economics professor Hideo Ohashi. |