China’s machinery, electronics exports up 30 percent
By IANSFriday, December 17, 2010
BEIJING - China’s machinery and electronic exports were up 30 percent year-on-year, and is on course to become the world’s largest exporter of such goods in 2010, reports Xinhua.
China exported $842.74 billion worth of machinery and electronic products in the first 11 months, up 32.7 percent from a year earlier, Zhang Yujing, director of the China Chamber of Commerce for Import and Export of Machinery and Electronic Products (CCCME), said at a press conference Thursday.
The total value of imports and exports of machinery and electronic products increased 34.3 percent to $1.4 trillion over the period, Zhang said, adding that the nation’s machinery and electronic exports had rebounded to pre-crisis levels.
Despite the large export volume and comparative advantages, such as lower labour costs, the nation’s machinery and electronic manufacturing industries were lacking in terms of independent innovation capacity and overseas marketing, and faced trade friction challenges, said Vice Commerce Minister Jiang Yaoping.
The country’s foreign trade hit a historic high in November, as exports rose 34.9 percent year-on-year to $153.33 billion and imports jumped 37.7 percent to $130.43 billion.
