China's Exports of Machinery, Electronic Products Surge

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Last updated at: (Beijing Time) Thursday, January 02, 2003

China's Exports of Machinery, Electronic Products Surge

Machinery and electronic products were the leading force behind China's fast growing exports last year, figures released by the Ministry of Foreign Trade and Economic Cooperation (MOFTEC) show.

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Machinery and electronic products were the leading force behind China's fast growing exports last year, figures released by the Ministry of Foreign Trade and Economic Cooperation (MOFTEC) show.

Exports of machinery and electronic products were worth 141.44 billion US dollars from January to November last year, up 31.6 percent. China's total exports grew 21.6 percent in the same period.

Machinery and electronic products accounted for 48.2 percent of China's total exports, which were worth 293.69 billion US dollars.

The growth of such exports far exceeded the 10 percent target set by MOFTEC at the beginning of 2002.

From March last year, machinery and electronic exports topped 10 billion US dollars each month. In November, they rose to 15.87 billion US dollars.

MOFTEC officials attributed the surge to more value-added products being exported, and the rise in exports to the United States, Japan, the European Union and other markets worldwide.

The surge had helped China's economic restructuring and technical advances in Chinese firms, officials said.

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