|Xinhua File Photo
BEIJING, Oct. 4 (Xinhua) -- Latest customs data indicated Thursday China's exports to emerging markets have been expanding, suggesting a decreasing reliance on demand from developed economies.
The General Administration of Customs announced Thursday that the Association of Southeast Asian Nations (ASEAN), Latin America and Africa accounted for 9 percent, 6.4 percent and 3.8 percent of China's exports in 2011, up from 7.2 percent, 2.9 percent and 2.1 percent, respectively, in 2002.
Chinese exports to India and Russia in 2011 rose by 1.8 and 1 percentage points from 2002, respectively, according to the data.
Exports to the United States and Japan dropped by 4.4 and 7.1 percentage points in 2011 compared to 2002, respectively, the data showed.
The United States and Japan are China's second-largest and fourth-largest trading partners.
Exports to the European Union, China's largest trading partner, rose by 2.5 percentage points last year compared to 2002, the data showed.
In 2011, the trade volume of China's private firms accounted for 28 percent of China's total foreign trade, up 19.4 percentage points from 2002, while that of state-owned firms accounted for 20.9 percent, down 17.3 percentage points from 2002, the data showed.
Last year, the trade volume of foreign-invested firms in China accounted for 51.1 percent of the total, down by 2.1 percentage points from 2002, the data showed.
China takes up "sizeable portion" of global growth
OTTAWA, Oct. 3 (Xinhua) -- China has contributed greatly to global economic growth, said a Canadian scholar in an interview with Xinhua on Tuesday.
"For much of the 21st century China's growth alone has been responsible for a very sizeable portion of the growth in the global economy, pulling along other economies with it," said Jeremy Paltiel, a professor of political science at Carleton University in Ottawa. Full story
China's economy in cyclical slowdown, strong return expected: economist
SYDNEY, Sept. 25 (Xinhua) -- China's economy is in the downswing of a natural cycle as a result of careful management of inflationary pressures and will continue its extraordinary growth in the medium to long term, a leading economist has told Xinhua.
Paul Bloxham, the Chief Economist for Australia New Zealand of the largest foreign bank in China HSBC, says the present slowdown is cyclical and a strong fourth-quarter return to form is on the cards. Full story