China leads world in machinery, electronics exports in 2010

17:11, February 25, 2011      

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China topped the world in the foreign trade and export of machinery and electronic products in 2010, according to the statistics of the Ministry of Commerce of China.

China's imports and exports of machinery and electronic products were valued at nearly 1.6 trillion U.S. dollars and exports amounted to more than 933 billion U.S. dollars in 2010.

China's exports of machinery and electronic products accounted for 60 percent of the country's total exports in 2010. That means that for 16 years those products have contributed the most to China's exports.

Chinese firms engaged in power generation, telecom and railway have been increasingly competitive on the international market. They have made more than 30 percent of China's machinery and electronic exports. In addition, products with high tech intensity and added value, such as autos, ships and airplanes, also have begun to play a bigger role in China's machinery and electronic export mix.

In 2010, China expanded its export market for machinery and electronic products to 225 countries and regions around the world. The emerging economies make up 33 percent of China's export market for those products in 2010, compared with 26 percent in 2009, and contribute 40 percent of the growth of China’s exports of those products.

The statistics also shows that private companies have been making more progress than either foreign or state-owned enterprises. They exported 44 percent more machinery and electronic products than they did in 2009, a rise which was 14 percentage points and 23.4 percentage points higher than the growth achieved by foreign and state owned enterprises, respectively. As a result, their contribution to the total went from 10 percent in 2009 to 19 percent in 2010.

At the same time, China has become the second largest importer of machinery and electronic products in the world. In 2010, the amount of imports of machinery and electronic products into China increased at a faster rate than exports for the first time in nine years.

The total trade of electronics and machinery increased by 32 percent in 2010, and imports were up by 34 percent to 660 billion U.S. dollars, accounting for 47 percent of the country's total imports.

Jiang Yaoping, deputy Ministry of Commerce, said on Thursday that in the machinery and electronic sectors, China would make more efforts on further diversifying its export markets, expanding its imports, promoting the trade restructuring and encouraging the strategic emerging industries to go international.

By Li Jia, People’s Daily Online

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