- CNTV English - CCTV News

Chinese private firms foreign trade expand

08-16-2010 11:14 BJT

Watch Video

Play Video

Foreign trade volume of China's private companies has exceeded that of the state-owned firms. The nation's customs authority says the figure now accounts for one-fourth of the total import and export volume.

The General Administration of Customs says private companies' import and export volumes surged over 50 percent to near 400 billion U.S. dollars in the first seven months of the year. That accounted for almost one-quarter of the nation's total...and exceeded the volume of state-owned companies. Trade surplus of the private firms during the same period stood at 112 billion U.S. dollars.

Huang Guohua, Head of Statistics Department, General Admin. of Customs said "It's the first time the private enterprises' import and export volume accounted for one-forth of the total. It reflected the government's policies on the promotion of private companies as well as diversification of China's foreign trade entities."

The figures also show China's foreign trade volume in the first seven months grew around 40 percent, to reach over 1.6 trillion U.S. dollars. July alone saw a monthly high in two years.

But officials expect a slowdown in the second half of this year, with the likely impact of the European debt crisis.

Huang Guohua said "The global economic recovery is still fragile. The effect of the European debt crisis is not yet clear. And the depreciation of the euro has also not reflected in the exports."

Industry experts are calling on exporters to speed up innovation and upgrade products, to offset the potential impact. This is also in a bid to increase their overall competitiveness. In the meantime, experts suggest enhancing risk control over exports to Europe, and raising prices of exported products to the region. They are also warning of a slowdown in U.S. economic growth.

Editor:Xiong Qu |Source: CNTV.CN

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program