Home / Knowledge / News / Textiles / Chinese overseas trade can touch $5tr by 2015

Chinese overseas trade can touch $5tr by 2015

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

Pic: Shutterstock

Textiles | On 26th Jul 2021

Vietnam opens new rail freight link to Belgium on China-Europe line

Vietnam Railways (VNR) has added a new rail freight link from Vietnam ...

Pic: Shutterstock

Textiles | On 26th Jul 2021

UK launches consultation on scheme for trade with developing nations

The United Kingdom recently launched a consultation on new trading...

Pic: Shutterstock

Textiles | On 26th Jul 2021

Prime Content| Rising demand to positively impact Australian wool exports: TexPro

Australian wool exports are expected to grow in the current season...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Donating 20,000 N95 masks to hospitals & NGOs

Footwear Industry, Footwear Retailers

Footwear Industry
Footwear Retailers

Still struggling to mop up higher sales

Textile Industry, Head honchos

Textile Industry
Head honchos

Ensured payment of fee was least concern for students

David Guiho,

David Guiho

Headquartered in Apt, South of France, Delta Plus designs, manufactures...

Emmi Berlin,

Emmi Berlin

With the support of the first investors - Finland's Technical Research...

Sanjay Vakharia,

Sanjay Vakharia

One of the first few Indian denim brands, Spykar, established in 1992, was ...

Michaela Griggs & Peggy Schulz, Barco Uniforms

Michaela Griggs & Peggy Schulz
Barco Uniforms

Founded in 1929, Barco Uniforms started as an apparel company for beauty...

Brad Holschuh, Wearable Technology Lab, University of Minnesota

Brad Holschuh
Wearable Technology Lab, University of Minnesota

A new study led by researchers at the University of Minnesota's Design of...

Keith McMillen, Bebop Sensors

Keith McMillen
Bebop Sensors

Bebop Sensors' smart fabrics allows for a new level of interaction between ...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

Ruma Devi is a jet-setting promoter of artisans who has empowered...

Sandeep Gonsalves & Sarah Gonsalves, Sarah & Sandeep

Sandeep Gonsalves & Sarah Gonsalves
Sarah & Sandeep

Established in 2012, Sarah & Sandeep is a luxury menswear label...

Suman Nathwani, Suman Nathwani

Suman Nathwani
Suman Nathwani

Designer <b>Suman Nathwani</b> talks about her journey of opening a...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

July 2021

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

Advanced Search