China's high-tech trade expected to outstrip US$400 billion this year

China's imports and exports of high-tech products have seen month-by-month increase since the beginning of this year. Latest statistics show that the total trade is expected to exceed 400 billion US dollars this year, reported the overseas edition of People's Daily on Wednesday.

The country's trade of high-tech products totaled 371.69 billion US dollars in the first 11 months of this year, up 26.9 per cent over the previous year. Of them, the imports were 177.05 billion US dollars, an increase of 21.3 per cent in the first 11 months and the exports 194.64 USD or a growth of 32.5 per cent.

The exports of high-tech products reached 28.4 per cent of China's total exports in the first 11 months, which was regarded a new breakthrough from the 27.9 per cent in 2004.

The growth of hi-tech exports was 2.8 percentage points higher than the growth of the country's overall foreign trade in the first 11 months while the increase of hi-tech imports was 4.2 percentage points higher than that of the total imports, which has further strengthened its role in boosting the overall foreign trade increase.

Experts point out that the continuous enhanced exports of high-tech products are largely resulted from the measures China has adopted to change the model of foreign trade growth in recent years.

The export of major products rose in both quantity and price. For example, the exports of integrated circuits, mobile phones and parts, and computers and components, were 108.36 billion US dollars, accounting for 55.7 per cent of the entire high-tech products exports, a growth of 33.7 per cent.

Among them, the export of computers and computer components reached 68.31 billion USD or an increase of 28.5 per cent with an average unit price growth of 10 per cent; the exports of mobiles and parts 27.54 billion USD or an increase of 50.3 per cent and the integrated circuit exports 12.51 billion USD, a growth of 30.4 per cent with the similar unit price as that of last year.

Therewith, experts say that this has become a new growth point for this year's foreign trade.

The exports to China's major trade partners present a fast upward momentum. Statistics show that exports from the Chinese mainland to the United States, Europe and China's Hong Kong SAR were 41.49 billion, 38.85 billion and 38.66 billion USD respectively in the first 10 months of this year, an increase of 32.5, 37.2 and 36.6 per cent correspondingly. It is expected that the exports to the above-mentioned countries and region will exceed 50 billion USD.

In the meantime, the surplus trade balances of high-tech products came up to 17.59 billion USD in the first 11 months of this year. It is expected that the hi-tech trade surplus for this year will outstrip 20 billion USD.

By People's Daily Online