Export of China's Electromechanical Products to Top US$100 Billion

In the first 10 months, the amount of China's export and import of electromechanical products totaled US$168.3 billion, an increase of 37 percent over the same period last year, of which export was valued at US$85.8 billion, up nearly 40 percent. The export of said products is expected to exceed US$100 billion this year.

This is reported from a symposium on the export handled by the State key electromechanical enterprises, held by the Ministry of Foreign Trade and Economic Cooperation (MOFTEC) on November 27.

Despite the rapid growth of China's electromechanical export which accounts for 42 percent of the national total, it only ranks 15th in the world, as the quality and efficiency of its export growth are still low.

Shi Guangsheng, Minister of Foreign Trade and Economic Cooperation, noted at the symposium that China's entry into the WTO will bring Chinese electromechanical products to face fiercer competition in the international markets and provide enormous opportunities for the structural readjustment of China's electromechanical products export.

Shi required that the export of China's electromechanical products must follow the principles of "revitalizing trade through science and technology"and "achieving success on the strength of quality", enlarge the export of high value-added and high-tech products and further optimize the export structure.

By PD Online staff Deng Gang

People's Daily Online --- http://english.peopledaily.com.cn/