While the trade war between the US and China has escalated, New Zealand's economy remains well placed, with little fallout as yet, says ANZ chief economist for China, Dr Raymond Yeung.

Hong Kong based Yeung, who was in New Zealand this week, says the intense technology-sector focus of the trade war had meant consumer demand for New Zealand food products was largely untouched.

"I think sometimes we pay too much attention to the Chinese GDP number," he said. "The reality is that if you observe the Chinese import number, it's much more important. That's clearly reflected in the New Zealand