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China targets 30 countries for export diversification
Jan '12
With the prospect of gradually increasing uncertainty of US and European debt crisis, the Chinese government will begin to accelerate diversification of overseas markets and also reduce dependence on exports.

Vice-Minister of Commerce - Zhong Shan said the Ministry of Commerce will focus on developing more diversified external markets in the New Year. It will also improve the imbalance of dependence on foreign trade by domestic producers.

He said, 30 countries have been selected as major breakthrough markets in foreign trade diversification strategy this year and for the next few years.

Zhong said, "Our guideline is to measure resource, population size and existing market share and develop strategies accordingly. I hope we can join hands with the China Council for the Promotion of International Trade (CCPIT) and strive to increase China's bilateral trade volume with target countries by three percentage points by 2015”.

Zhong Shan did not divulge the names of the 30 countries, but according to previous analysis of publicly available information, India, the Middle-East other resource-rich, strategically important countries are included in the 30 target countries.

Fibre2fashion News Desk - China

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