China Technology Imports increases 45.2% YTD

By Dan Hua - China Expert

If you are seeking to do business in China and export to China, you will be interested to know that China imports a significant amount of products. If you want to travel to China, you should read our guide to getting a China Visa and the China Visa FAQ. Below is our update on China's technology imports.

China's technology imports reached 17.95 billion U.S. dollars in the first nine months of this year, up 45.2 percent over last year, reported the Ministry of Commerce (MOC) on Monday.

    Contracts for copyright licenses constitute the largest part of the total contracted fund, with a year-on-year growth of 57.5 percent.

    The European Union (EU) is the largest technology exporter to China with a contracted value of 7.54 billion U.S. dollars, up 32 percent.

    Japan and the United States ranked the second and third respectively as China's technology imports from Japan reached 4.45billion U.S. dollars and that from the United States, 2.89 billion U.S. dollars.

    The value of imported technology made by foreign-funded enterprises rose by 49 percent to 8.69 billion U.S. dollars, accounting for 48.4 percent of the total.

    Chinese state-owned enterprises' technology imports were valued at 8.04 billion U.S. dollars, up 55.4 percent.

    About 22.2 percent of the country's technology imports, or 3.98 billion U.S. dollars, came from the railway transport sector.

    Technology imports in the electronic and communication equipment manufacturing sector rose by 123.7 percent to 3.49 billion U.S. dollars. Enditem

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