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blank.gif (49 bytes)20/02/1999, updated at 16:00        blank.gif (49 bytes)weather.gif (982 bytes)archive.gif (946 bytes)search.gif (947 bytes)

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China Diversifies Trade Market and Economic Operation

  China has achieved great results in its strategy of diversifying overseas markets and economic operations under the backdrop of the sustained financial crisis in Asia and the dwindled overseas markets.

  The Ministry of Foreign Trade and Economic Cooperation indicated that Chinas has over 220 trade partners; foreign investors came to the country from over 170 countries and regions; China has been engaged in projects contracting and labor service provision in over 180 countries and regions and made investment in over 160 countries and regions, initially shaping a diversified overseas economic and trade market pattern.

  In 1998, though China's export slided in Asia, its export to other countries and regions rose 15.8% to US$ 85.6 billion; US$ 37.98 to the US, up 16.1%; to EU, US$ 28.15 billion, a rise of 18.1%; to Africa, US$ 4.06 billion, a growth of 26.5%; to Latin America, US$ 5.32 billion, up 15.5%. The trade growth in these areas has offset the adverse affect from the financial crisis in Asia.

Economicnews 1999-02-20 Page1

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