State analysts say China's first year as a full member of the world's biggest trading bloc has not brought major blows to Chinese manufacturers. The State Information Center says there has not been an unexpectedly heavy influx of overseas manufacturers.
Chinese electronics and telecom equipment manufacturers experienced the most profitable year as the international market further improved. The report points out that this sector, though having a very low degree of government protection, absorbs a high proportion of direct overseas investment and shows most globalization characteristics. Therefore, this sector enjoys the most benefits from China's WTO entry.
In the steel products sector, Chinese enterprises are experiencing huge increase in imports. With lowered import tariffs and partially removed quotas on steel imports after the WTO entry, a huge amount of low priced steel products has flooded into the country, impacting heavily on Chinese manufacturers.
Global deflation has contributed to decreased selling prices for major Chinese exports. This indicates that the negative impact on Chinese products caused by global economic downturn has not been alleviated by China's entry into WTO.
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