Private Sector, Hi-tech Product Exports See Rapid Growth in Shanghai

Home>>Business

Last updated at: (Beijing Time) Sunday, June 15, 2003

Private Sector, Hi-tech Product Exports See Rapid Growth in Shanghai

Private enterprises and hi-tech products have become the driving force behind Shanghai's exports.

DISCUSSION

CHINESE

SEND TO FRIEND

Private enterprises and hi-tech products have become the driving force behind Shanghai's exports.

The average daily exports of private businesses in Shanghai jumped to 3.36 million US dollars during the first five months of this year, much higher than the 247,000 US dollars registered for the same period in 2002. Total export volume for the five months reached 507 million US dollars.

The rapid growth of exports from the private sector reflects the boom of private business and its active participation in foreign trade in a more open environment.

Shanghai registered 3,158 private enterprises from January to May this year, accounting for 70 percent of the total number of its newly-registered companies in the period.

Despite its limited contribution to Shanghai's total export volume with a 2.84 percent, private business has become the most active exporter.

According to Shanghai customs, hi-tech product exports in the January-May period rose by 2.73 billion US dollars from the same period of 2002, reaching 5.196 billion US dollars, accounting for 29.1 percent of Shanghai's total volume for the 5-month period.

Of the hi-tech products, electro-information products experienced the biggest export growth. The exports of Tech-Front (Shanghai) Computer Co., Ltd., a laptop producer, rose to 1.392 billion US dollars in the first five months of 2003, up 5.36 timescompared with the same period of 2002.

Shanghai's exports for the January-May period this year reached17.85 billion US dollars, a year-on-year rise of 51 percent. The increase is 16.7 percentage points higher than the average figure in China for the same period.

Questions?Comments? Click here

Shanghai Port Records Surge in Exports

Hi-tech Products Push up Exports via Shanghai

Shanghai Port Reports Major Rise in Cell Phone Exports

China's Private Car Ownership Tops 10 Million ( 4 Messages)

India, China Well Placed to Influence Regional Events: Indian Official ( 2 Messages)

US, India Monitor China's Nuclear Base ( 9 Messages)

Clinton Makes US$9.5 Million from Speeches Last Year ( 2 Messages)