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|Tuesday, March 20, 2001, updated at 08:46(GMT+8)|
SOE Exports in Guangdong Decline 17.5%Export volume from Guangdong's State-owned enterprises (SOEs) declined by 17.5 per cent to hit US$4.8 billion in the first two months of this year, according to statistics released by Guangdong Customs.
The export reduction of the province's SOEs resulted in a slight 1.2 per cent reduction of Guangdong's total export volume in January and February.
Guangdong, China's biggest exporter, had a total export volume of US$12.32 billion in the period.
In contrast to the poor export performance of SOEs, overseas-funded companies and joint ventures enjoyed sustained growth in export volume. Exports from overseas-funded companies and joint ventures increased by 12.4 per cent to more than US$7 billion in the first two months.
Guangdong reached a foreign trade volume of US$23.3 billion in January and February, up 5 per cent on the same period last year. Imports grew by 12.9 per cent to hit US$10.98 billion, while exports declined by 1.2 per cent to stand at US$12.32 billion. The province's total foreign trade volume in the first two months represented 33.3 per cent of China's total for the period.
Electronic and machinery products, clothes, shoes, toys and textiles have continued to be the major foreign exchange earners since the beginning of the year.
Export volume from electronic and machinery products increased by 13.8 per cent to US$7.04 billion, accounting for 57.1 per cent of the province's total exports.
But exports of Guangdong's traditional products, including clothes, silk, textiles and raw materials, are witnessing a decline this year.
Export volume of clothes and accessories slumped by 38.3 per cent to only US$1.05 billion in the first two months.
The Hong Kong Special Administrative Region, the United States, the European Union, Japan and Southeast Asia were the top five buyers of Guangdong products in the first two months.
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