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Pudong Processing Trade Becoming More Technology-intensive
The processing trade of Pudong New District in this east China municipality is becoming more and more technology-intensive, the latest statistics from the city's customs bureau show.
From January to July, four of the district's top five imports for its processing trade were high-tech products, namely, integrated circuits, printed circuits, components and parts for facsimile equipment, and accessories for mobile phones.
The top five exports of the district's processing trade were all electromechanical products. In descending export volume, they are shipping, mobile communications equipment, video recorders, suspension bridges and containers.
Analysts say processing with imported materials and deep processing are highlighted in the district's processing trade.
In the January-July period, processing with imported materials was reported to account for 4.087 billion US dollars in the import and export value, up 31.2 percent over the same period of last year and accounting for 80 percent of the total volume of foreign trade achieved by district's processing trade.
The rapid industrial upgrading has been attributed by analysts to the increase in the number of foreign-funded companies entering the area.
Statistics show that some 60 of the district's top 100 enterprises handling export processing business are foreign-funded.
Up to now, some 100 members of the global top 500 have invested in some 200 projects in Pudong district, covering such business sectors as household appliances, microelectronics, chemical engineering, telecommunications, automobiles and shipbuilding.
In the first seven months, the export volume achieved by these foreign-funded companies specializing in processing trade witnessed a year-on-year increase of 42.8 percent, making up 45 percent of the district's total.
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