Home / Knowledge / News / Textiles / Chinese overseas trade can touch $5tr by 2015
Chinese overseas trade can touch $5tr by 2015
13
Jan '12
Recently, Vice-Minister of the Ministry of Commerce - Zhong Shan cited the latest data of trade structure, saying that China's foreign trade shows over-reliance on traditional markets of developed countries and also the eastern coastal belt of China.

He believes, changing this structural imbalance, will not only help avoid export problems caused by US-European debt crisis in the short term, but will also catapult China from a big trading country into a trading power in the long term.

"In 2011, China's top five foreign trade markets, such as Europe, America, Japan, Hong Kong, Korea, accounted for 53.7 percent of China's total import and export value, while developing countries accounted for 31 percent of China's imports and exports.

Within the country, the eastern coastal region made up for around 90 percent of the overseas Chinese trade in 2011. This imbalance also needs to be addressed, he said.

He said the Commerce Ministry will join hands with China Council for the Promotion of International Trade (CCPIT) to increase current market share in new 30 countries to be targeted by three percentage points by 2015.

He added, "Three percent will be an incredible figure, considering that China's current foreign trade stands at US $3.64 trillion, it will be $5 trillion by then."

Zhongshan took India for example. He explained by saying, “India with a population of 1.3 billion has a bilateral trade volume of $70 billion with China, which is less than the Chinese trade volume with Singapore which is around $100 billion and also less than China's trade with a small Nordic country – Netherlands”.

“So, there is huge potential for development in bilateral trade with India. In addition, the Arab countries are also likely to become China's strategic focus”, he concluded by saying.

Fibre2fashion News Desk - China


Must ReadView All

Market share of Indian textile items expand in 13 nations

Textiles | On 11th Dec 2017

Market share of Indian textile items expand in 13 nations

Thirteen countries — Germany, France, Italy, the United States,...

Courtesy: EUBrasil

Textiles | On 11th Dec 2017

Euratex, ABIT welcome negotiations for EU-Mercosur FTA

European Apparel and Textile Confederation (Euratex) and the...

Most firms expect no change in investment plans: CII survey

Textiles | On 11th Dec 2017

Most firms expect no change in investment plans: CII survey

Despite visible optimism in Indian industry with the Confederation of ...

Interviews View All

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.2%
No
12.1%
Skip
18.7%

Total Votes: 91

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.5%
No
30.8%
Skip
7.7%

Total Votes: 91

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.8%
No
9.9%
Skip
3.3%

Total Votes: 91

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.3%
No
8.8%
Skip
9.9%

Total Votes: 91


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search