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Though China's average trade volume per capita remains lower than that of developed nation, the country's foreign trade structure has kept improving.
"In the past 20-plus years, China's foreign trade has experienced three stages with textiles, mechanical and electronic products and finally hi-tech products as the country's major supports," said Chai Haitao, a researcher with the Ministry of Commerce, at a forum last week.
Government statistics show in the 1980s, textile products contributed to 61 percent of the exports increase. In the 1990s, 50 percent of the exports increase came from traditional mechanical and electronic products, which now account for over 54 percent of China's total export volume.
"In the past three years, hi-tech goods represented by information technology have shown growing vitality in the country's imports and exports," Chai acknowledged.
Ministry of Commerce statistics show that the growth rate of hi-tech exports has reached 52 percent this year, 17 percentage points higher than the increase of China's total imports. Hi-tech products account for 27.4 percent of total exports. Exports of laptops, mobile telecommunication equipment, and integrated circuits have grown by 70-90 percent this year.
China's exports were mainly in general trade for a long time. But in recent years, the rise of processing trade has changed the trade mix, noted Chai. Processing trade has amounted to 55 percent of China's total exports and 39 percent of total imports
He said processing trade has not only upgraded China's industrial and product structures and generated more than 20 million jobs, but has also gained favorable a trade balance for China.
Meanwhile, foreign firms and private companies play a more vital role in China's foreign trade, he said. The two sectors have contributed to 74 percent of China's exports and 69 percent of imports.
Ministry of Commerce statistics show that in the past two years, the growing speed of imports from private companies is twice of the nation's average speed. The percentage of private companies in China's exports has risen from one to 17 percent in that time.
Besides, the inflow of foreign investment in recent years has brought China international marketing networks, advanced technology and modern management systems, which have helped China's industrial technology to grow rapidly, Chai said.
(Xinhua News Agency December 13, 2004)
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