New York—August 27, 2014—Last year, Panjiva announced the addition of Chinese Trade Data to its platform, providing insight into trade with China. This enhancement allowed Panjiva customers to access Chinese import and export data, find previously unknown companies doing business in and with China, and identify emerging trade trends in China.
The company created a new way to view Chinese trade data, and expanded its inventory of Chinese trade data to include 90 percent of all six-digit harmonized tariff system (HTS) codes for Chinese imports and exports. With this additional data, those with a stake in global trade have a greater possible level of transparency into what's coming out of and going into China. This data can help suppliers across the globe identify new Chinese buyers to sell to.
China’s emergence as a manufacturing power helped expand China’s middle class, and made China a top global consumer as well as producer. More companies are selling to China than ever before and there is more opportunity to supply China than ever before. This makes transparency into the global supply chain critical.
Panjiva’s data on Chinese trade includes data on over 375,000 companies, including data on close to 100,000 Chinese companies that are importing goods from outside the country. This data is helping suppliers in the U.S., Europe and elsewhere identify the Chinese buyers they should (or shouldn't) be doing business with, opening up a huge new potential market of customers.
In 2013, China imported over $1 trillion dollars (USD) worth of goods. While the volume of imports to China is on the rise as the country shifts towards a nation of consumers, a careful look at the data underscores that a good percentage of consumption may be for their own manufacturing processes. Of the top 10 HS import codes, six are directly related to manufacturing and used in the manufacturing process, such as nuclear reactors, electrical machinery, valves, etc.