1970-01-01 08:33:28
China's export volume is expected to achieve a growth rate of about 15 percent next year despite the impact of the financial crisis and global economic downturn, a trade expert with the Ministry of Commerce has said.
"It is true that coastal provinces such as Guangdong have been facing much pressure as global demand for traditional commodities has weakened significantly," said Mei Xinyu, an expert with the Academy of International Trade and Economic Cooperation under the ministry.
In China, the so-called "traditional commodities" of export refer to garments, accessories, textile, shoes and furniture.
It is also true that China's exports of electrical and electronic products has maintained a 20-percent growth this year, Mei said.
"The electrical and electronic manufacturing industry, featuring advanced technology, holds the key to the development of the Chinese economy. As long as the exports of electrical and electronic products continue to grow, China's export prospect won't be too bad," Mei said.
Figures from the China General Administration of Customs show exports of electrical and electronic goods were worth 288.89 billion U.S. dollars in the first 10 months, up 21 percent.
During the economic crisis, multinationals in the manufacturing industry are likely to speed up the process of moving their production into China or source more made-in-China products in an effort to cut costs, he said.
In addition, the Chinese government had raised tax rebate rates for exports three times since late July to create a more favorable environment for exporters, he said.
He predicted the government would adopt more favorable policies in the future to encourage both exports and imports.
Customs figures showed China's foreign trade volume in the first 10 months to October hit 2.189 trillion dollars, up 24.4 percent over a year earlier. The total for the whole of last year was2.174 trillion dollars.
Exports were 1.202 trillion dollars, up 21.9 percent year on year, and imports 986.34 billion dollars, up 27.6 percent.
In the first 10 months, Guangdong recorded 577.83 billion dollars in foreign trade volume, 26.3 percent of the country's total.
Source: Shanghai Daily