Traders' volume rises to US$604b By Jiang Wei (China Daily) Updated: 2006-07-13 08:47
The trade volume of China's top 500 traders totalled US$604.8 billion last
year, according to statistics released yesterday by the Ministry of
Commerce.
Their businesses accounted for 42.6 per cent of the country's
total exports and imports.
In a statement on its website, the ministry
said the threshold of the top 500 trading companies increased to US$300 million
last year from US$260 million in 2004, while the average export volume increased
to US$1.18 billion from US$910 million in 2004.
Energy, machinery,
electronics and high-tech companies ranked high in the top 500 list.
The
ministry said the largest 10 traders all dealt in energy, machinery, electronics
and high-tech products.
Statistics also revealed that more than 95 per
cent of the top traders are based in costal areas.
Only 18 of the top 500
companies are located in west or central China.
Meanwhile,
foreign-invested companies have taken a leading role in China's foreign trade,
accounting for more than 60 per cent of the top 500. State-owned enterprises
made up 28 per cent of the total.
As China fulfilled its commitments to
the World Trade Organization, more privately-owned companies and foreign firms
have acquired trading rights.
In 2004, China became the third-largest
trader in the world after the United States and Germany.
The country's
trade volume totalled US$1.42 trillion last year an increase of 23.2 per
cent from a year ago. (For more biz stories, please visit Industry Updates)
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