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China importing more from S Korea

South Korea has outperformed Taiwan since the beginning of this year to become China's second-largest import source, the Chung-Hua Institution for Economic Research (CIER, 中經院), a private think tank, reported yesterday.

CIER researchers quoted the latest report released by the Korean Trade Investment Promotion Agency as indicating that South Korea has enjoyed growth in its exports to China since January, while exports from Taiwan, Japan and the US have dropped.

South Korea's exports to China have continued to expand over the past three years, with China's eastern province of Jiangsu being the biggest recipient among China's 31 provinces and cities.

The amount that Jiangsu Province imported from South Korea over the past three years was twice as much as South Korea's entire exports to Germany in the same period, CIER said.

With increasing two-way trade between China and South Korea, CIER researchers forecast that Seoul will become China's largest import source within three years.
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