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China is expected to be the world’s largest exporter of machinery and electronic products in 2010, with export value of the goods up 30% year on year to USD$940 billion, according to Xinhua News.

China exported $842.74 billion worth of machinery and electronic products in the first 11 months, up 32.7% from a year earlier, Zhang Yujing, director of the China Chamber of Commerce for Import and Export of Machinery and Electronic Products (CCCME) was quoted saying.

The total value of imports and exports of machinery and electronic products increased 34.3% to $1.4 trillion dollars over the period, Zhang said, adding the nation’s machinery and electronic exports had rebounded to pre-crisis levels.

Despite the large export volume and comparative advantages, such as lower labour costs, the nation’s machinery and electronic manufacturing industries were lacking in terms of independent innovation capacity and overseas marketing, and faced trade friction challenges, said Vice Commerce Minister Jiang Yaoping.

The country’s foreign trade hit a historic high in November, as exports rose 34.9% year on year to $153.33 billion and imports jumped 37.7% to $130.43 billion. – Source Xinhua.net

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