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Trade: Manufactured exports pass US
Updated: 2006-03-22 15:06
China probably will surpass the US as the world's largest exporter of
manufactured goods this year, propelled by its embrace of advanced technology, a
study by a US industry group says. In 2001 China exported half the amount
of factory goods the US did. Since then, Chinese exports of those goods--
including auto parts, toys and semiconductors-- have grown by more than 25
percent a year to$713 billion in 2005. Assuming an "unlikely" slowing in export
growth to 20 percent, China still would pass the US in those exports this year,
said the report by Ernest Preeg, a senior fellow at the Manufacturers Alliance
in Arlington, Virginia, an association that represents companies such as
Caterpillar Inc. and Motorola Inc. (CE.cn)
Shanghai's retail sales grew 12 percent in the first two months of this year,
led by surging restaurant receipts and growing auto deals. The city's retail
sales totaled 54.48 billion yuan (US$6.78 billion) in January and February, the
Shanghai Statistics Bureau reported yesterday. Restaurants sales rose the most
at 23.4 percent year on year to 7.09 billion yuan in January and February, as
demand increased during the holidays. (Shanghai Daily)
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