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December 13, 2005
China tech exports overtake US: Report
Associated Press Report: China has overtaken the United States as the world's largest exporter of a broad category of electronic goods including computers, mobile phones and digital cameras, the OECD said last Monday.
The report by the Paris-based Organization for Economic Cooperation and Development marks a milestone in China's diversification.
Chinese exports of information and communications technology goods rose by 46 percent year-on-year to $180 billion in 2004, outstripping U.S. exports of $149 billion, 12 percent higher than the previous year.
China's positive trade balance in tech products almost tripled to $31 billion last year from $12 billion in 2003. The country first became a net exporter of such goods just a year before that, recording a 2002 surplus of $3 billion.
China's booming trade surplus in PCs and laptops stood at $45.4 billion last year, the new data showed, and its overall trade in ICT goods has grown an average 38 percent per year since 1996. China also overtook Japan as the main exporter of such goods to the United States last year.
European and U.S. mobile phone and PC producers have been investing heavily in China, and Chinese computer maker Lenovo Group Ltd. acquired the PC operations of International Business Machines Corp. for $1.75 billion in May.
Posted by admin at December 13, 2005 05:33 AM