Latest News:  


Commentary: Maintain hard-won advantages

By Mei Xinyu (China Daily)

10:32, November 23, 2012

China's manufacturing and foreign trade sectors still enjoy a strong competitive edge in the global market

Despite a lingering sovereign debt crisis in the eurozone, the "fiscal cliff" in the United States, and a heavy cloud over the growth prospects of emerging markets, China's economy managed to pick up during its traditional "golden September and silver October" period after a months-long foreign trade slump.

Statistics show China's exports grew 11.6 percent year-on-year in October to $175.57 billion, 1.7 percentage points higher than the 9.9 percent growth in September. In the first 10 months of this year, the country's total import and export volume reached $3.1616 trillion, an increase of 6.3 percent year-on-year. The export value was $1.6709 trillion, an increase of 7.8 percent year-on-year. Against the backdrop of a steep decline in global trade, these are remarkable achievements.

The fact that China's trade conditions have turned better means its manufacturing and foreign trade sectors still enjoy a robust competitive edge in the global market. Despite facing ever-growing pressures from rising costs, China's diligent and well-trained labor force, its relatively complete industrial system, enormous domestic market and well-developed infrastructure, as well as improved public services and stable macroeconomic environment have all contributed to the success of domestic manufacturers and exporters in the global market. It is with such advantages that China's labor-intensive industries have achieved a tangible export growth rate even though they have been under huge pressures from rising costs. For example, from January to October, exports of shoes grew by 10.6 percent year-on-year, while furniture exports rose by 31.9 percent year-on-year and plastics by 39.7 percent.

China should by no means belittle the ongoing transfer of some of its labor-intensive manufacturing to Vietnam, India and other lower-cost neighbors, but it is also unnecessary for it to exaggerate the negative impacts the transfer will have on its overall export prospects. With a far smaller trade scale than China, these countries have a much weaker ability to curb any rise in costs. For example, the export volume of China's textiles was $240.55 billion, exceeding the total export value of any single Southeast or South Asian nation except India. Due to their much smaller economic scale and populations, most Southeast Asian nations are expected to witness a faster rise in labor costs in their processing trade than China has experienced over the past three decades. Compared with its neighbors, some of China's exporting hubs, such as the Pearl River and Yangtze River deltas, have maintained relatively stable labor costs over a long period due to the availability of labor in the vast inlands they border.

【1】 【2】

We recommend:

Yangtze River Highway Bridge in Taizhou to open

Shoemaker not subject to 16.5% tariff by EU

Shanxi to build four large coking industry parks slows

AVIC unveils new aircraft engines

China's MA700 to take flight in 2016

13th Int'l Automobile Industry Exhibition

China Int'l Industry Fair opens in Shanghai

Caofeidian coal wharf put into use

Galaxy Soho building in Beijing

Email|Print|Comments(Editor:梁军、Li Zhenyu)

Leave your comment0 comments

  1. Name


Selections for you

  1. New-type guided missile frigate 'Bengbu' is commissioned to PLA Navy

  2. 14th Chinese naval escort taskforce in drill to rescue hijacked ship

  3. Kim Jong Un visits Defence Detachment

  4. 21 miners killed in colliery accident

  5. How we face 'getting old before getting rich'

  6. Photo story: Brave young mother

  7. Is it cute or scary?

  8. Nature's nirvana

  9. Central bank focuses on inflation

  10. Cities with highest urbanization quality

Most Popular


  1. 'Made in China' not equal to 'self-made in China'
  2. Efforts needed to nurture ethnic culture, language
  3. Filipina maids or local ayi?
  4. China won't take part in currency wars
  5. Long live the kingdom of bicycles!
  6. Income gap still hot topic
  7. Bigger does not always mean better for megacities
  8. Railway ministry revamp will not impact ratings
  9. Active yet prudent urbanization needed for China
  10. China's dating TV show inspires copycat in Chicago

What’s happening in China

Photo story: Brave young mother in the 4th year of university

  1. Survey: Average age of 'leftover men' rises
  2. White collars to have more travels this year
  3. Parents taking children to beg lose guardianship
  4. East China fire kills 6 family members
  5. Suspect held for imprisonment,rape of teen-ager