ECONOMY|AGRICULTURE|INDUSTRY|CONSTRUCTION|INVESTMENT IN FIXED ASSETS|TRANSPORTATION|POSTS AND TELECOMMUNICATIONS|BANKING, SECURITIES AND INSURANCE|DOMESTIC TRADE|FOREIGN ECONOMIC RELATIONS

Summary

Benefited from the fast growth of international and domestic economies and the policies encouraging exports, foreign trade kept growing at a high rate. The total volume of imports and exports in 2000 reached US$474.3 billion, up 31.5 percent over the previous year. The value of exports totaled US$249.2 billion, up 27.8 percent, and that of imports was US$225.1 billion, up 35.8 percent, resulting in a trade surplus of US$24.1 billion. Of the total exports, those of State-owned enterprises were valued at US$116.5 billion, up 18.2 percent, and those of foreign-funded enterprises US$119.4 billion, up 34.8 percent. The general trade exports rose 32.9 percent to US$105.2 billion, and those of processing trade based on materials supplied by clients increased 28.5 percent to US$96.5 billion. The export of electromechanical products was valued at US$105.3 billion, up 36.9 percent, and that of high-tech products reached US$37 billion, up 50 percent. Of the total imports, rapid growth was seen in the import of resource-type products and the imports of electromechanical products and high-tech products also grew rapidly, registering an increase of 32.6 and 39.7 percent respectively.

The situation of foreign capital utilization turned for the better. The year 2000 saw approval of 22,347 new projects using foreign capital, an increase of 32.1 percent over the previous year. The contractual foreign investment reached US$62.4 billion, up 51.3 percent, and the foreign direct investment actually used totaled US$40.7 billion, up 1 percent.

Growing momentum was kept in overseas construction projects, labor service, design and consultancy services contracted by China with foreign countries. In 2000, contracts signed with overseas partners involved US$14.9 billion, up 15 percent over the previous year. The accomplished business volume reached US$11.3 billion, up 1 percent, and its contribution to the total exports was US$900 million, up 35 percent.