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China sees significant increase in high-tech exports

Updated: Jan 5,2016 5:03 PM’s Daily

China’s exports of high-tech products saw a significant increase in recent years, marking a breakthrough in the country’s high technologies receiving more recognition all over the world, according to statistics and analysts.

China had the largest share of Asia’s exports in high-tech products in 2014, increasing drastically from 9.4 percent in 2000 to 43.7 percent in 2014, said the Asian Economic Integration Report 2015 released by the Asian Development Bank (ADB).

High-tech products in the report included aircraft and spacecraft, telecommunications equipment and medical and precision instruments.

Meanwhile, low-tech products accounted for 28 percent of China’s total exports in 2014, a big drop from the 41 percent in 2000, the report showed.

Zhuang Juzhong, deputy chief economist at ADB, said that China has seen great success in such technologies as high-speed trains, drones, smartphones and nuclear power stations, and it also made significant breakthroughs in strategic high-tech fields such as lunar exploration and satellite navigation.

Thailand was the first overseas user of China’s homegrown Beidou Navigation Satellite System. Thailand’s first batch of Beidou ground-based enhancing stations were put into use on June 20, 2014, and more than 200 stations are planned in Thailand.

Moreover, from January to October 2015, Indonesia’s imports from China increased 64.39 percent from the same period of 2014, for which the increase of China’s high-tech export is an important reason, according to Indonesia’s Central Statistics Bureau.

China won the bid to build Indonesia’s first high-speed railway last year.

China has stepped up efforts in innovation during the last five years, which plays an active role in industrial upgrading, said Gu Qingyang, associate professor at the Lee Kuan Yew School of Public Policy of National University of Singapore.

He predicted that technological innovation, management innovation and institutional innovation will be the core driving forces for China’s future development.