The statistical discrepancy in the US and Chinese figures for the trade deficit is mainly attributable to the different treatment of the role of Hong Kong by the two sides, according to mainland economists.
The most important source of the apparently huge difference is the transit trade of Hong Kong, said Zeng Gang, an economist with the Chinese Academy of Social Sciences.
The US Department of Commerce defines Chinese exports to the US as those goods shipped directly to the US and also those shipped indirectly via Hong Kong.
The Chinese authorities, however, count only those goods whose final destination is known to be to the US. Goods that are sent via Hong Kong are treated as exports to Hong Kong instead of being counted in the Chinese trade statistics with the US, Mr Zeng said.