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China pledges to narrow trade deficit in technology sector

By Li Jiabao (China Daily)

08:32, December 07, 2012

Contract value of high-tech imports hits $32.2 billion in 2011, up 25.5%

China aims to boost exports of technological products to narrow the $10 billion deficit in the industry, as the country improves its manufacturing sector and restructures its economic growth, a trade official said on Thursday.

"Chinese companies are changing from technology importers to exporters, and the country's technology exports have entered a fast-growing phase," Zhou Liujun, director-general of the Department of Trade in Services and Commercial Services of the Ministry of Commerce, told a press conference held to promote the 2013 China (Shanghai) International Technology Fair.

The first edition of the annual fair - which aims to be a means of combine technology, talent, capital and industries - will be held in Shanghai from May 8 to May 11.

Shanghai, together with the coastal Jiangsu and Zhejiang provinces, accounted for 38 percent of China's total imports and exports of technology in 2011, Zhou said.

China's technology trade was worth $53.56 billion in 2011, compared with $22.61 billion in 2006. In 2011, the contracted value of China's imported technology products stood at $32.16 billion, up 25.5 percent year-on-year.

The lasting deficit in technology trade is rooted in China's strong demand for high technology as the country shifts from a "Made-in-China" model to a "Created-in-China" model, which makes it almost impossible to reach a balance in technology trade in the short term through a reduction in technology imports, Zhou said.

"We should concentrate on the structural balance of technology trade. Imported technology is urgently needed for our manufacturing sector improving efforts and can save costs in research and development," Zhou said.

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