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Nation's Trade of Machinery, Electric Products Doubles in 5 Years
China's total imports and exports of machinery and electric products hit 721.4 billion US dollars during the past five years, representing a two-fold increase over the eighth five year plan period (1991-1995).
This was announced by assistant foreign trade minister Wei Jianguo at a national conference on the trade of machinery and electric products Monday.
Wei, who is in charge of the import and export of machinery and electric products at the Ministry of Foreign Trade and Economic Cooperation (MOFTEC), said that during the 1996-2000 period, China's exports of machinery and electric products grew an average 19.1 percent year-on-year to 356.4 billion US dollars.
Statistics provided by the General Administration of Customs show that in 2000 alone, China's exports and imports of machinery and electric products hit 208.18 billion US dollars and 102.87 billion U.S. dollars respectively. Over 40 percent of these products were in the high-tech category.
China's exports of computers, mobile telecommunication equipment and color televisions surged 390 percent, 250 percent and 75.4 percent respectively in 2000.
During the ninth five-year-plan period, China exported over 25 billion US dollars worth of machinery and electric products to the US, a 170-percent increase from 9.18 billion US dollars in 1995. Meanwhile, China's exports to the European Union (EU) surged to over 19 billion US dollars and exports to Africa and Latin America were also on the rise.
Japan, the EU, the United States remained the three leading exporters of machinery and electric products to China, accounting for 71.74 billion US dollars or 69.7 percent of China's total imports of such products.
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