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Trade of Electromechanical Products To Hit US$360 Bn in 5 Years
China's total imports and exports of machinery and electric products are to reach US$360 billion during the tenth five-year-plan period (2001-2005), an official announced Monday.
Zhou Keren, vice minister of Foreign Trade and Economic Cooperation, said at a national conference on trade of machinery and electric products that China will maintain an average 12- percent increase in exports in the coming five years. By 2005, China's exports of those products are to hit US$180 billion.
China is expected to witness a 14-percent rise this year in its exports of machinery and electric products in order to reach the target, Zhou said. He said China's overall trade of such products is to reach US$240 billion, with US$120 billion worth of exports.
In the coming five years, China's exports of high-tech machinery and electric products are to increase 20 percent year-on- year to hit US$90 billion, Zhou said, adding that China will continue to support small and medium-sized enterprises to diversify exporters of high-tech products.
While continuing to tap existing markets including the European Union, the United States, and Japan, China will explore new markets in Africa, Latin America and the Middle East and expand exports to its neighboring countries and other developing countries.
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