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State Councilor Hails Prospects for High-tech Exports
Chinese State Councilor Wu Yi stressed Tuesday that China should boost its foreign trade by stepping up scientific research and developing more technology- intensive export commodities.
Speaking at a conference organized by the ministries of Foreign Trade and Economic Cooperation, Science and Technology, Information Industry, and the State Economic and Trade Commission, Wu stressed that China should seize the opportunity amid global and national economic re-adjustment and place its priority on updating research and development, replacing resource-intensive and labor-intensive products with high-tech commodities as the major portion of the country's exports.
High-tech machinery and electronic products will become the fastest-growing category among China's exports, Wu predicted. Export products embodying high and new technology were valued at US$ 24.7 billion in 1999, or 13 percent of the year's volume, she said, suggesting that China's strategy of boosting foreign trade through science and technology has paid off. However, high- and new-technology products are still the weakest link in China's exports, and they need strong support, she emphasized.
She pointed out that the government should extend more support to high-tech-related enterprises and products, particularly those products with Chinese-owned intellectual property rights. High- tech industrial zones and trade fairs should also play a more important role in promoting the research and development of high- tech products.
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