China is poised to become the world's fourth largest trader,
following the United States, Japan and Germany.
Export and import volumes in the world's fastest growing economy
have totalled about US$800 billion since January, said Wei Jianguo,
vice-minister of commerce.
At that rate, Wei said, China's rank in the world trading
community will rise to fourth by the end of the year.
The boost is driven by a sharp rise in machinery and electronic
exports, which is likely to exceed US$190 billion by the year-end,
Wei predicted.
Meanwhile, China's inflow of foreign direct investment (FDI)
remains robust. Total actual FDI was US$43.56 billion in the
January to October period, a rise of 5.81 per cent from a year
earlier.
As exports continue to grow, the government is seeking some
expert advice to find the best practices to control sensitive
exports.
The Ministry of Commerce (MOC) has invited a number of experts
and scientists to form a think-tank which will focus on how to best
regulate and implement controls on export of sensitive items.
The move is part of China's effort to establish a system to
advise and provide expert support to the ministry and other related
departments, said Wei yesterday during a ceremony to name these
experts.
"It is of critical importance to build such a supportive system,
which will help enhance the efficiency and professionalism of
export controls," he said.
A group of 240 scientists, including more than 10 academics from
such fields as nuclear research, biology, chemistry, aeronautics
and electronics were appointed as technical advisers of export
controls.
Other experts were also invited to offer advice for export
control policy-makers.
Wei said China has created a comprehensive system to control
export of nuclear, biochemical and chemical materials, as well as
missiles and missile-related items.
He vowed that, along with other ministries, the MOC would take
effective measures to ensure the implementation of export control
regulations and draft appropriate legislation.
Wei also said that a more efficient coordinating mechanism and a
system to deal with emergencies are to be developed jointly by
relevant ministries.
"Making better use of expert brains signals China's
determination to improve export controls, so as to take an active
part in the international co-operation in non-proliferation and
peacekeeping," said Teng Fei, an expert invited by the MOC from the
International Technology and Economy Institute under the
Development Research Centre of the State Council.
(China Daily December 5, 2003)