FIEs Account for Nearly 70% of China’s Exported Machinery, Electrical and Electronic Products

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Feb. 17 – Foreign-invested enterprises exported US$494.4 billion worth of machinery, electrical and electronic products from China in 2009.

According to the General Administration of Customs, FIE exports made up 69.3 percent of the country’s total exports of such products in the past year.

Exports of machinery, electrical and electronic products by privately-owned domestic enterprises totaled US$106.6 billion, a drop of 8.7 percent from 2008, while state-owned enterprises only exported US$92.1 billion, accounting for 12.9 percent of the country’s total machinery, electrical and electronic products last year.

The GAC also said the majority of the country’s exports of machinery, electrical and electronic products fell into the category of processing and assembling trade. The European Union (EU), the United States and Hong Kong were the three major destinations for these exports

State media reported that China’s exports of machinery, electrical and electronic products in the category of processing and assembling trade totaled US$66.4 billion U.S. dollars last year, 65.4 percent of the country’s total exports of such products.

China exported US$1.2 trillion in products last year, replacing Germany as the world’s largest exporter.