Chinese exporters going higher end: HSBC

The report said machinery and telecommunication products will drive Chinese exports over the next decades. By 2030, machinery products will become China's top exports, which will account a third of the total. They will be followed by telecommunications-related products.

Besides those, China will also export more of the following in the years to come: chemicals, steels and accessories. By region, emerging markets will continue to be the top export destinations for China, as demands from developed markets are expected to remain slow.

Exports to Vietnam and India will enjoy the fastest growth, seeing combined annual growth rates of between 14 and 15 percent until 2030, the report said.

“A migration of Chinese exports to value-added products is the result of many factors, including a change in industrial landscapes, labor cost and external demands,” said Ho Shun-hua, official with HSBC China. “This strategy will have it share of challenges, yet in the end it will solidify China's status as a major trading partner in the world. Companies seeking to upgrade themselves should seize upon this opportunity to raise the quality and value of their products, which can then see increasing shares across global markets.”

In fact, HSBC points out this trend is not only seen in China but also in other emerging markets. Malaysian exporters, for example, have shifted their focus from palm oil and other products to industrial machinery, it said.

SHARE CLOSE
Blogger		Google+
Live Journal		Plurk
Stumble Upon

Tweet

	PREVIOUS ARTICLE
	Shares of Wintek higher on back of Samsung order reports

NEXT ARTICLE
EBRD chief thanks Taiwan on 1st visit

Write a Comment

Terms

Enter your comments - 3000 characters max

Type in image code

 Receive China Post promos
 Respond to this email

Submit