China Electronic, Machinery Exports To Exceed US$100 Billion

ByBridgeNews China has projected its electronic and machinery products export will exceed US$100 billion this year, the official Xinhua news agency reported this week, citing sources from the Ministry of Foreign Trade and Economic Cooperation. The country's initial target for these exports this year was $80 billion, but rapid growth in the previous months has pushed the projection higher. By the end of August, China's exports of its electronic and machinery products totaled $65.9 billion, up 40.7% on year, customs statistics showed. The sectors' exports have been growing at an average rate of 17.9% annually during the past five years, Xinhua said. The sectors' export volume accounted for more than 40% of China's total exports. However, industry officials predicted earlier that China's machinery sector would suffer the most following the nation's entry into the World Trade Organization.