The export reduction of the province's SOEs resulted in a slight 1.2 percent reduction of Guangdong's total export volume in January and February.

Guangdong, China's biggest exporter, had a total export volume of US$12.32 billion in the period.

In contrast to the poor export performance of SOEs, overseas-funded companies and joint ventures enjoyed sustained growth in export volume. Exports from overseas-funded companies and joint ventures increased by 12.4 percent to more than US$7 billion in the first two months.

Guangdong reached a foreign trade volume of US$23.3 billion in January and February, up 5 percent on the same period last year. Imports grew by 12.9 percent to hit US$10.98 billion, while exports declined by 1.2 percent to stand at US$12.32 billion. The province's total foreign trade volume in the first two months represented 33.3 percent of China's total for the period.

Electronic and machinery products, clothes, shoes, toys and textiles have continued to be the major foreign exchange earners since the beginning of the year.

Export volume from electronic and machinery products increased by 13.8 percent to US$7.04 billion, accounting for 57.1 percent of the province's total exports.

But exports of Guangdong's traditional products, including clothes, silk, textiles and raw materials, are witnessing a decline this year.

Export volume of clothes and accessories slumped by 38.3 percent to only US$1.05 billion in the first two months.

The Hong Kong Special Administrative Region, the United States, the European Union, Japan and Southeast Asia were the top five buyers of Guangdong products in the first two months.

(China Daily 03/19/2001)