April 2015 Trade Bulletin

Highlights of this month’s edition:

• Bilateral trade: Total value of U.S. trade with China continues along a downward trend as the U.S. deficit in goods increases in 2015.

• Bilateral policy issues: U.S.-China trade surplus in services increased in 2014 due to strong growth in travel sector; China underpays for U.S. intellectual property given the magnitude of its high-technology exports.

• 2015 National People’s Congress Special: Government promises slower, stable growth, renews emphasis on economic reform; last year’s energy intensity and emissions reduction targets met, but public outrage over pollution continues.

• Policy trends in China’s economy: The 2015 Spring Festival sees domestic consumption slow while more Chinese choose to spend holiday abroad; CCTV Consumer Rights program attacks state-owned telecom.