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China aims to have global brands by 2020
By Zhang Jiawei (chinadaily.com.cn)
Updated: 2010-04-19 15:28
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China is expected to have a batch of multinational companies and global brands by 2020, when the country's foreign trade volume will double its current size to reach $5.3 trillion, according to a researcher of China's foreign trade sector.
Li Gang, a research fellow at the Chinese Academy of International Trade and Economic Cooperation under the Ministry of Commerce (MOC), said the global downturn had phased out a number of backward and less competitive enterprises while offering great opportunities for innovative enterprises to improve growth structure and strengthen their anti-risk capabilities, Xinhua News Agency reported Sunday.
According to a report launched by the MOC Sunday at the ongoing 107th China Import and Export Fair, the country's largest trade fair held in the southern city of Guangzhou, China's merchandise exports will top other countries and reach $2.4 trillion in 2020, 10.1 percent of the world total, while imports will reach $1.9 trillion and rank second largest, accounting for 8.2 percent of the world total.
Li was the leading writer of the report, which was seen by analysts and officials as a "road map" that lays out a theoretical basis for reforms in China's trade policies and mechanisms over the next decade, according to Xinhua.
