Exporters urged to focus on emerging markets
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China, now the second-largest industrial trading nation, will further spur machinery and electrical product exports to emerging markets next year to establish a diversified sales network and seize global business opportunities, the Ministry of Commerce said on Thursday.
"Exporters of machinery and mechanical products should strengthen their business next year in emerging economies and shift their market structure from developed economies to a global profile while consolidating exports to the United States and European Union markets," said Jiang Yaoping, vice-minister of commerce.
According to the ministry, China has become the second-largest machinery and electrical products trading country in the world owing to robust demand and fast growth worldwide.
"We have seen export volume surge in emerging markets in recent years, which helps promote the machinery and electrical industries' share in the country's total exports," Zhang Yujing, president of the China Chamber of Commerce for Import and Export of Machinery and Electronic Products (CCCME), told China Daily.
"By contrast, it's relatively difficult to substantially increase exports to the US and EU markets, which are struggling with an economic slowdown and have repeatedly imposed anti-dumping measures on products imported from China this year," Zhang said.
Machinery and electronic products, including automobiles, appliances and mechanical equipment, represent the biggest exporting category in China.
From January to November, exports in this category jumped by 32.7 percent to 842.74 billion yuan ($126.45 billion), accounting for 59 percent of the country's total exports.
The CCCME said China will become the world's leading exporter of machinery and electronic products by the end of this year.
Jiang of the ministry said China's machinery and electrical product exports have rebounded from the negative increase exporters suffered from the global financial crisis.
"To grasp business opportunities in the global market, Chinese exporters should step up efforts to increase exports to emerging markets, enhance autonomous innovation and set up their own distribution networks abroad," Jiang said.
Althought the US and EU remained China's major export markets, exporters have yielded great profits in emerging markets, such as the Middle East, Africa and South America.
Zhang of the CCCME said Chinese-made products are popular in these regions because of the high ratio of performance to price.
Unlike developed countries, where Chinese manufacturers mostly subcontract for foreign brands, China's exporters have taken great efforts to develop independent brands in emerging economies.
TCL Corporation, one of China's largest household appliance makers, said it plans to establish production bases in Pakistan and South America to widen its reach and strengthen its brand abroad, as it sees significant benefits in emerging markets.
"We should invest more in emerging markets, where we expect to reap a good return as TCL grows into a global brand," Li Dongsheng, chairman of TCL Corporation, said.
On Thursday, the CCCME named 83 companies as the top exported brands in the machinery and electrical industry and promised to further support their business.
"Both the government and the chamber of commerce should make a commitment to develop Chinese brands into international big names, as part of an effort to transform China from a large trading country to a strong trading nation," Jiang of the ministry said.
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