China's High-tech Trade Hits 77.89 Billion US Dollars

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Last updated at: (Beijing Time) Friday, June 13, 2003

China's High-tech Trade Hits 77.89 Billion US Dollars

The trade volume of Chinese high-tech products soared 51.1 percent year-on-year to 77.89 billion USdollars for the first five months of 2003.

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The trade volume of Chinese high-tech products soared 51.1 percent year-on-year to 77.89 billion USdollars for the first five months of 2003.

Chinese Customs said high-tech imports amounted to 42.137 billion US dollars, and exports totaled 35.753 billion US dollars, or more than 20 percent of the country's total import and export volume.

In May, the trade volume of Chinese high-tech products hit 16.48 billion US dollars, up 57.22 percent year-on-year.

The import and export of such products in May climbed 46.96 percent and 70.32 percent on the figures for the same period of last year.

The primary export markets of Chinese high-tech products are developed countries including the United States, the European Union and Japan.

Computers and telecommunication facilities accounted for 95 percent of high-tech exports and nearly 90 percent of the exported high-tech products were traded under the processing trade.

South China's Guangdong Province exported half of the total exported high-tech products.

Exports of high-tech goods overtook that of fabrics and garments in 2002 for the first time and represented the country's second largest export sector.

The Ministry of Commerce (MOC) attributed the rapid increases to the growth of China's high-tech industry since the mid 1990s.

China instituted a series of preferential policies and measures to spur the development of the high-tech industry. A sound environment featuring positive financial, taxation and logistic conditions had been formed, the MOC said.

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