China calls for patience as Feb trade surplus soars
(AFP)
Updated: 2007-03-13 09:06
China announced the second-largest monthly trade surplus in history on
Monday as the commerce minister promised to seek more measures to reduce
imbalances with the outside world.
Is China poised to close the technology gap?
Authored By Mark Trumbull
The Christian Science Monitor
Last year, one of the biggest and fastest rising US exports to China was
something very basic: scrap metal.
China, meanwhile, is racking up billions of dollars in trade surpluses with
America in computers and other items grouped by the US Commerce Department
as "advanced technology products."
On Monday, an official at one of China's major aviation companies touted
China's ambition to build large commercial jetliners by 2020 ¨C a move that
could put Chinese workers in direct competition with Boeing and Airbus in
producing one of the world's most advanced industrial products.
This doesn't mean that China has caught up with the United States or Europe
in its technological prowess. But the world's most populous nation is adding
new capabilities with notable speed and determination.
GOVERNMENT REPORT OFFERS UNIQUE INSIGHTS INTO CHINA 's GROWING ENGINEERING
SECTOR
UK Trade & Investment has conducted the first in-depth report, “China
Engineering Scoping Study? into the vibrant Chinese engineering sector with
the aid of specialist consultancy, China Business Solutions.
The report is aimed at UK based SMEs who are looking to take advantage of
China’s expanding engineering sector and need comprehensive market
information before launching into the China market.
The study examines China’s major engineering sectors ?mechanical, electrical
and process engineering ?and assesses regional variations particularly
labour costs, distribution channels and skills levels.
The report also highlights opportunities for UK engineering companies,
particularly in the Process and Packaging, Machine Tools, Ceramics
Machinery, Control and Instrumentations, Gauge and Tools, and Plastics
Processing industries.
Ting Zhang, founder and CEO of China Business Solutions, who led the study
team said:
“China offers huge opportunities for UK engineering companies wishing to
establish a presence in China. Apart from the Central Government’s
strategic initiatives that have an impact on the six sub sectors at national
level, each region in China has its own industrial characteristics and
development plan.
“This report, which is the first of its kind, will provide companies with a
clear picture about the diversification of industrial characteristics at
regional level, as well as introducing China as a market and highlighting
various practical issues related to doing business in different the regions
of China.