China machinery, electronic exports hit $940b
Updated: 2010-12-17 09:32
BEIJING - China is expected to be the world's largest exporter of machinery and electronic products in 2010, with export value of the goods up 30 percent year-on-year to $940 billion, said an industrial head Thursday.
China exported $842.74 billion worth of machinery and electronic products in the first 11 months, up 32.7 percent from a year earlier, Zhang Yujing, director of the China Chamber of Commerce for Import and Export of Machinery and Electronic Products (CCCME) told a press conference.
Despite the large export volume and comparative advantages, such as lower labor costs, the nation's machinery and electronic manufacturing industries were lacking in terms of independent innovation capacity and overseas marketing, and faced trade friction challenges, said Vice Commerce Minister Jiang Yaoping.
The country's foreign trade hit a historic high in November, as exports rose 34.9 percent year-on-year to $153.33 billion and imports jumped 37.7 percent to $130.43 billion.
Ear We Go
China and the world set to embrace the merciful, peaceful year of rabbit
Preview of the coming issue
Carrefour finds the going tough in China
Maid to Order
Mysteries written in blood
Historical records and Caucasian features of locals suggest link with Roman Empire.
Coastal Yantai banks on little things that matter to grow
New rules to hit property market
The State Council launched a new round of measures to rein in property prices.