China's foreign trade volume of high-tech products tops US$300 billion

China's foreign trade volume of high-tech products exceeded 326.97 billion US dollars in 2004, up 43.8 per cent year-on-year, according to sources with Chinese Ministry of Commerce in Beijing recently. China's import of high-tech products reached 161.43 billion US dollars and export stood at 165.54 billion US dollars, up 35.3 percent and 50.2 percent respectively, the MOC said. The main features are as follows.

  • The increase of foreign trade volume of high-tech products approached 100 billion US dollars, accounting for more that one third of China's total foreign trade volume. The increase of foreign trade volume of high-tech products in 2004 stood at 97.3 billion US dollars, exceeding 300 billion US dollars for the first time. On the basis of an increase of 42.5 billion US dollars in 2003, the exports increase in 2004 was 55.2 billion US dollars, accounting for 35.5 percent of China's total foreign trade volume.

  • China had a favorable foreign trade balance for the first time with a gradual increase of the competitiveness in export products. The tax rebates system also helped promote the exports of high-tech products with an increasing number of enterprises producing high-tech products with exports volume exceeding 10 billion US dollars. Thanks to the improvement both in the competitiveness of exported products and the products quality, the growth of high-tech products' export in 2004 was 15 percentage points higher than that of import, achieving trade surplus of 4.11 billion US dollars for the first time.

  • With major export market on the US and Europe, the trade surplus increased dramatically in those regions. The US still maintains the top trade partner for China's exported high-tech products. China's total exports of high-tech products to the US, Europe and Hong Kong SAR accounted for nearly 70 percent of China's total export.

    China's own brand products only take up less than 10 percent among all China's high-tech products exports though China has made remarkable progress, said the official with Ministry of Commerce.

    By People's Daily Online



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