Trade: Unfavorable factors in trade
(People's Daily Online)
Updated: 2006-06-21 14:47
Extensive growth, increasing trade friction and stagnancy of trade in
services are three big problems for China's foreign trade, remarked Chai Haitao,
president of Chinese Academy of International Trade and Economic Cooperation
(CAITEC) affiliated to Ministry of Commerce.
Mr. Chai said extensive growth of foreign trade was reflected by high
consumption of resources, high costs of environment and low added value of
products. It is also shown by the lack of self-developed brands, intellectual
rights and proprietary technologies, as well as excessive dependence on
processing trade.
Currently, export channels and core know-how of China's mechanical and
electrical products are controlled by foreign enterprises.
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