Exports to rise in emerging markets
Updated: 2012-02-20 11:12
By Ding Qingfen (chinadaily.com.cn)
NANCHANG — China's exports to markets except for four developed regions — the United States, the European Union, Japan and Hong Kong — will gain five percentage points in market share by 2015, said Zhong Shan, vice-minister of commerce.
While the outlook for developed economies is grim, China will prioritize emerging markets to grow its exports, especially those owning a rich reservoir of natural resources and with large populations that currently register limited foreign trade with China, Zhong said.
This is part of the task that China will implement according to newly launched guidelines on helping the nation accelerate the transformation of its foreign trade through several ministries.
In January, China's exports declined slightly by 0.5 percent year-on-year to $149.9 billion. Exports to the EU, the largest destination for made-in-China goods, fell by 3.2 percent year-on-year because of the EU sovereign debt crisis.
China's central and western regions will also be strategically important for the nation in stabilizing exports over the next five years.
By 2015, the ratio of the foreign trade in the central and western regions to China's total will raise by five percentage points, said Zhong.