Chinese Electronics Exports Climb Higher

Chinese exports of electronics and IT hardware climbed at a faster pace during the first nine months of this year, China’s Ministry of Information Industries (MII) said on Friday.

Chinese electronics exports between January and September were valued at US$253.8 billion, a 38 percent increase over the same period last year. Exports of electronics outpaced exports from other industries, representing 37 percent of China’s total foreign trade and accounting for 48 percent of the export growth recorded so far this year, MII said.

Imports of electronics also did well, rising 34 percent during the first nine months to $206.4 billion. The difference between the value of exports and imports left China with a trade surplus in electronics of $47.4 billion, the ministry said.

The increase in exports comes as Chinese factories churn out a range of products, including computers, phones, MP3 players, LCD televisions and other products for markets around the world.

The growing importance of China as an electronics manufacturing base is underscored by the recent announcement that Hon Hai Precision Industry, the world’s largest contract electronics maker, plans to significantly increase its investment in China.

On Nov. 1, Hon Hai said it would invest more than $1 billion to expand its Chinese manufacturing base with the construction of several factories near Huai’an, in China’s eastern Jiangsu province.

-Sumner Lemon, IDG News Service (Singapore Bureau)

Related Links:

• Hon Hai Plans Massive China Investments

• Hon Hai China Investment Tops $1B

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