An increase of 23.2 percent compared to 2004 has been achieved this year, with foreign trade reaching $1.4 trillion.
Imports reached $762 billion, which was 28.4 percent and exports touched $660 billion which was 17.6 percent, according to the China Customs report.
China's foreign trade is definitely large in quantity, but not in quality.
Processing trade accounted for 48.6 percent of country's foreign trade in 2005. The profit margin was thin due to weak value of the goods.
China's textile export in 2005 consisted of 20 billion pieces of apparel worth $115 billion.
Its cheap labor and low priced product have driven the export growth but sparked trade disputes and restrictions in some countries, on and off.
Apparently, China has to put more effort on quality improvement rather than quantity by developing brands that can compete in quality with other brands in the international market.
marketing@alchempro.com
