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Chinese hi-tech exports up but profitability remains low |
CCTV.COM 2003-07-22 09:07:52 |
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China's hi-tech exports increased by more than 50 percent in the first half of this year over the same period last year. However, experts caution against over-optimism, as the high volume increase was not accompanied by high profitability.
Statistics show the total export value of Chinese hi-tech products at over 44 billion US dollars, 21 percent above the increase level of Chinese exports in total. Yet nearly 90 percent of the hi-tech exports were from the processing trade, valued at about 39.4 billion US dollars.
Much of the profit goes to the many overseas-invested enterprises which are attracted by the low labor costs, and have relocated their production and processing bases to China since the country became a WTO member.
Economists say the rapid growth also exposes the weakness of China's hi-tech export structure, calling for more efforts on the research and development of core technologies.
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Editor: Yang Feiyang CCTV.com
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