trade hit a historic high in November
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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 U.S. dollars, said an industrial head Thursday.
China exported 842.74 billion U.S. dollars 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.
The total value of imports and exports of machinery and electronic products increased 34.3 percent to 1.4 trillion U.S. dollars over the period, Zhang said, adding the nation's machinery and electronic exports had rebounded to pre-crisis levels.
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 U.S. dollars and imports jumped 37.7 percent to 130.43 billion U.S. dollars.