China’s innovative and tech-driven products are increasingly meeting global demand. Ningbo Kaifeng Electric Appliance Co, a manufacturer of intelligent power connectors, which have wireless fast charging functionality on the side and USB interfaces on top, said exports of the connectors had already exceeded CNY20 million in the first 10 months of this year. Its intelligent sockets with wireless fast charging features are now popular in various countries and regions. From January to October, the total export value of Ningbo Kaifeng’s products reached CNY380 million, a 22.7% growth year-on-year. Chinese exporters like Ningbo Kaifeng are leveraging innovation, competitive pricing and tailored solutions to expand their presence in both established as well as emerging markets.
To stay competitive and address risks from geopolitical tensions, Chinese exporters have been deepening their engagement in emerging markets, using cross-border e-commerce platforms, investing in green technologies and establishing overseas factories, said Cui Fan, Professor specializing in international trade at the Beijing-based University of International Business and Economics (UIBE). Their products, including electric vehicles exported to Brazil and Saudi Arabia, high-end medical equipment shipped to Egypt, Thailand and South Africa, and household appliances sold in Australia, the United States and Europe, are gaining global recognition. In the first 10 months, China’s foreign trade rose 5.2% from a year ago to CNY36.02 trillion, with exports up 6.7% and imports up 3.2%, according to the General Administration of Customs (GAC).
Highlighting the country’s ongoing industrial upgrade, policy support and popularity of tech-intensive green products, Lyu Daliang, Director General of the Administration’s Department of Statistics and Analysis, said that China is capable of achieving its full-year foreign trade goal of improved quality and stable growth volumes. Global market demand has increased this year. In the second half of the year, concerns over potential tariff increases by the United States prompted some importers to stockpile goods, further driving up overseas demand and boosting exports, said Zhou Mi, Researcher at the Chinese Academy of International Trade and Economic Cooperation.
At the same time, China’s domestic production has shown stable growth, partly due to increased financial support for manufacturing, said Zhou. “As a result, the dual drivers of domestic production expansion and international demand growth have led to generally optimistic forecasts for this year’s export growth,” he added. China introduced policies to boost its foreign trade on November 21. For instance, the country will drive innovative development in green and border trade, attract and facilitate cross-border business travel, enhance support for maritime transport for foreign trade, and strengthen employment services for foreign trade enterprises, according to the new policy measures, as outlined by the Ministry of Commerce (MOFCOM). As Chinese manufacturers produce a vast array of machinery and electrical equipment suitable for various industries, from construction to manufacturing, demand has surged from many developing nations for importing machinery and electrical products from China to drive their urbanization and industrialization.
Sichuan province – a vital hub for high-value manufacturing and exports in western China – exemplifies this growth. Its export of machinery and electrical products, like electric vehicles and aerospace equipment, grew 6.6% on a yearly basis to CNY368.67 billion during the January-October period, accounting for 75.3% of the province’s total exports, data from Chengdu Customs showed. Notable examples are Sichuan Honghua Petroleum Equipment Co, which exported multiple sets of complete equipment, with a total value exceeding CNY1.3 billion, representing a year-on-year growth of over 20%, and Guangzhou Sameway Electric Bicycle Co, an electric bicycle manufacturer in Guangzhou, which exported lithium battery mountain bikes and other products worth nearly CNY45 million in the first three quarters. The company unveiled its latest long-range electric mountain bike at the 136th China Import and Export Fair, commonly known as the Canton Fair, in Guangzhou that concluded in early November, the China Daily reports.
