Collective and private enterprises, an important force of China's foreign trade

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Last updated at: (Beijing Time) Wednesday, October 08, 2003

Collective and private enterprises, an important force of China's foreign trade

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According to statistics released by China's General Administration of Customs (GAC), in the last eight months, the export value of China's collective and private enterprises saw a respective increase of 79.5 and 93.5 percent, far more than the increase rates of state-owned and foreign-funded enterprises.

From last January to August, enterprises of "other kinds", including collective and private enterprises, as classified by the Customs, have achieved an export value of 34.52 billion U.S. dollars, an increase higher than 12.5 percent for the SOEs and 38.9 percent for the foreign-funded enterprises. The import value of these enterprises stood at 23.46 billion U.S. dollars, higher than the increase of 26.9 percent for SOEs and 44.2 percent for foreign-funded enterprises. The value of import and export jointly hit 57.98 billion U.S. dollars, accounting for 11 percent of the gross foreign trade value of the country in the same period.

Statistics from the Customs show that in the year 2002, the import and export value of collective and private enterprises reached 53.2 billion U.S. dollars, an increase of 57 percent over that of the year before, accounting for 8.6 percent of the total import and export value that year.

Since China lifted on September 1, 1999 the restrictions for non-public economies to engage in foreign trade, more than 40,000 private enterprises have gained import and export rights. In line with the commitments made by China on entering the World Trade Organization (WTO), the Ministry of Commerce once again lowered the barrier for foreign trade, indicating that all qualified enterprises can apply for foreign trade right. With more and more enterprises of various kinds gaining the trade right, collective and private enterprises will play an increasingly important role in China's foreign trade.

This is an article on page 3 of Market Daily, October 8, written by Zhang Yi; translated by PD Online staff member Gao Lanrong.

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