Exports from Beijing's SOEs Outstrip Foreign-funded Firms

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Last updated at: (Beijing Time) Thursday, July 18, 2002

Exports from Beijing's SOEs Outstrip Foreign-funded Firms

Growth in exports from Beijing's state-owned enterprises(SOEs) has outstripped that of foreign-funded firms so far this year.

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Growth in exports from Beijing's state-owned enterprises has outstripped that of foreign-funded firms so far this year.

The combined export value of the state-owned enterprises totaled 810 million US dollars in the first half of this year, up by 11.2 percent compared with 0.4 percent growth by foreign-fundedfirms.

Asia continued to be Beijing's largest market with the value ofexports topping 1.3 billion US dollars by the end of June, accounting for 55 percent of the city's total exports.

Exports to the Republic of Korea (ROK) recorded the biggest increase with a growth rate of 53 percent to reach 230 million US dollars. Japan continued to be Beijing's leading trade partner with Beijing's exports climbing to 480 million US dollars, up by 4.9 percent on a year-on-year increase.

Beijing's general trade exports exceeded 1 billion US dollars in the first six months, an increase of 21 percent, or higher thanthe national growth rate. Exports of aerospace equipment, bio-technology and other high-tech products also showed various increases.

However, exports of computers and telecommunication products fell in the first six months.

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