China's hi-tech exports increased by more than 50 percent in the first half of this year over the same period last year. However, experts caution against over-optimism, as the high volume increase was not accompanied by high profitability.
Statistics show the total export value of Chinese hi-tech products at over US$44 billion, 21 percent above the increase level of Chinese exports in total. Yet nearly 90 percent of the hi-tech exports were from the processing trade, valued at about US$39.4 billion.
Much of the profit goes to the many overseas-invested enterprises which are attracted by the low labor costs, and have relocated their production and processing bases to China since the country became a WTO member.
Economists say the rapid growth also exposes the weakness of China's hi-tech export structure, calling for more efforts on the research and development of core technologies.
(CCTV.com July 23, 2003)
