China seeks bigger share of world exports in 2010

Chinese factory China will not relent in its efforts to sell Chinese products to other countries of the world in 2010, the Reuters reports.

According to the report citing China’s Vice Trade Minister, Zhong Shan, he said China is seeking a bigger share in the global market to sell Chinese goods overseas.

The report indicated that China may have replaced Germany as the world’s largest exporter in 2009 but it is not yet a “powerful trading nation,” it is a “big trading nation,” Zhong said.

Zhong believes that China’s exports will grow in 2010, saying, “there is no doubt about that.”

China’s exports were hit hard by the global financial turmoil, falling 18.8 percent in the first 11 months from a year earlier.

But the market share for Chinese products has increased in 2009 as sales from other countries have fallen even more deeply, Zhong told a forum at the University of International Business and Economics in Beijing, according to the report.

He said export growth is vital for China to drive economic growth and create jobs at home.

Zhong said, for example, exporting 30 million shirts benefits the Chinese economy more than exporting one Boeing 747, referring to a domestic debate over how much China should support existing labor-intensive export industries versus how much it should move up the value chain.

“Exporting 30 million shirts means we can create jobs for 10,000 people,” Zhong said. “With the 10,000 people employed, their families, or 30,000 people, can have a well-off life.”

By Emmanuel K. Dogbevi