A lot of people constantly complain about the impact of “Chinese” exports, and especially the trade surplus (see latest news here) but have little understanding of just how “Chinese” they really are (those pesky definitions again!). It has been clear from a long time (i.e. since foreign investors were invited into China to manufacture products – for export) that a lot of “Chinese” exports are actually “foreign”.
In the latest list of the 200 top traders in China (reported by Xinhua via CBiz ):
- “Foreign companies accounted for more than half of China’s foreign trade, taking almost three in every five dollars in imports and exports last year….The 2005 Top 200 list of China’s importers and exporters listed 148 foreign companies, up 50 percent from 2001.”
Top companies included:
• China Petroleum and Chemical Corp. (Sinopec): held top place, with imports of US$24.72 billion.
• Motorola: the top foreign exporter, in fourth place, with exports of US$6.45 billion
• Samsung: the top foreign importer, with US$4.32 billion of imports. They were ninth overall.
In all, foreign companies accounted for US$831.7 billion dollars in trade, making up 58.5 percent of the total. The share of exports by Foreign Invested Enterprises (FIEs) in 2005 was separately reported (by HKTDC) to be up by 31.2 percent to US$444.2 billion – accounting for 58.3 percent of the total.
It is also worth noting that state-owned companies have fallen down the list, while the private sector has seen strong gains. So unfair state (or state bank) subsidies (or “loans”) are also likely to have reduced. Not that the fact will take much wind out of the sails of the anti-China trade lobby.
See news sources:
China releases ’05 list of top 200 foreign traders