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Year-on-year Increase in Imports and Exports of Hi-tech Products in the First 10 Months were Over 40%
In the first 1 0 months, total imports and exports of hi-tech products in China amounted to US$259.3 billion with a year-on-year increase of 43.9%. Of which imports were US$130.96 billion and exports US$128.34 billion, up by 37% and 51.9% respectively on a year-on-year basis. And the exports accounted for 27.4% of total exports of the nation.
According to analysis by Department of Scientific and Technological Development of MOFCOM, the high speed development in imports and exports of Hi-tech products in China was attributed to the obvious effect of the strategy of "revitalizing foreign trade through science and technology". In 2004, Vice Premier Wu Yi delivered 3 important speeches at National Fair of "revitalizing foreign trade through science and technology", Dalian Software Fair and Shenzhen Hi-tech Fair, which effectively promoted the implementation of the Strategy.
In 2004, World economy is recovering and international trade on the rise with an obvious momentum, Demand in international market for China's hi-tech products is enhancing gradually.
According to statistics, in the first 8 months, foreign investors set up 2092 enterprises in communication equipment, computers and other electronic equipment manufacture, and contract value reached US$13.91 billion, actual use were US$5.53 billion, up by 10.8%, 54.8% and 15% respectively.
Besides, new system of export tax refund stipulated a stable rate for 97 hi-tech products including laptop. The fulfillment of the new system perfected capital status of exporters of hi-tech products and strongly drove up growth in exports.
Foreign investment enterprises were main force for increase in exports of hi-tech products, but with the support of various policies in China, domestic hi-tech enterprises grew at a fast speed and the international competitiveness of main export part was further reinforced. According to statistics, in 2003, exports of 150 hi-tech enterprises in China exceeded US$100 million, and of another 30 enterprises over US$1 billion.
(Information by Network Center of MOFCOM)
(News source: English Website of Ministery of Commerce)
