Foreign firms, JVs dominate electronics exports

Wholly foreign-owned companies and Sino-foreign joint ventures in China contributed 83.9% to the country’s total exports of electronics and information products in the first seven months, the official Xinhua News Agency reported, citing statistics released by the Ministry of Information Industry. The wholly foreign-owned firms contributed 67.4%, or US$158.6 billion, and the Sino-foreign joint ventures contributed 16.5%, or US$38.8 billion. Wholly Chinese-owned companies contributed just 16.1%, or US$37.7 billion, to electronics and information exports. In the first half of the year, output of electronics and information products climbed 17.5% year-on-year to US$55.13 billion, worth US$253.97 billion at the retail level. The Chinese government regards electronic products such as integrated circuits, software, cutting-edge electronic components, new-generation telecoms and high-performance computers as “fundamental, core, and strategic,” the agency said.