China push to become “strong trader” with emerging markets by 2020

BEIJING - A Government document released by China’s Cabinet, the State Council, says China aims to “expand trade relations with more countries and regions as well as raise the quality and variety of its exports to enhance the country’s competitiveness”. China is confident it needs only five years to “strengthen its advantages in trading traditional commodities” in addition to nurturing “some new strong points”, the paper says.

 The big strategic change is that, instead of exporting mainly goods, Chinay will export a combination of products, services, technologies and capital, while de-emphasising the role of low prices and preferential policies. China also wishes to expand into new markets in both Latin America and Africa, focussing on exports to emerging markets.

In the first four months of 2014, Chinese exports to emerging markets increased on-year by 5.7%. China also expects to sell more advanced products overseas, including communications equipment, railway equipment and machinery. www.webershandwick.cn (ATI).