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90% of China's electronic exports from foreign ventures

(Xinhua)
Updated: 2006-04-15 14:19

China's Ministry of Information Industry (MII) said nearly 90 percent of the country's exported electronic products come from foreign ventures.

In the first two months this year, exports of electronic products from foreign ventures in China reached 19.56 billion US dollars with a rise of 41.2 percent year on year, accounting for 86.9 percent of the industry's total exports, show statistics with MII.

Foreign ventures in China's electronic information industry reported a sales revenue of 408.53 billion yuan in the first two months with a year-on-year rise of 32.3 percent.

They accounted for 80.9 percent in the industry and their profits reached 13.02 billion yuan, accounting for 78.8 percent of the total, according to MII statistics.

The profit increase rate is 27.6 percentage points higher than that of State-owned companies in the period.

Statistics with MII said China had around 6,480 foreign-ventured companies at the end of last year with the market scale rising from 580.4 billion yuan in 2000 to 2.4 trillion yuan last year.

The percentage of foreign ventures in China's electronic information industry rose from 58.7 percent five years ago to 77.4 percent last year, show government statistics.