China exports hit US$262b

PUBLISHED : Thursday, 14 November, 2002, 12:00am
UPDATED : Thursday, 14 November, 2002, 12:00am

China's exports soared 21 per cent to US$262.5 billion (HK$2.04 trillion) in the first 10 months of the year, making it one of the fastest growing export markets in the world, according to figures released on the sidelines of the 16th Communist Party Congress.

Minister for Foreign Trade and Economic Co-operation Shi Guangsheng also said that foreign investment rose 20 per cent to a record US$46.4 billion.

He forecast that trade would reach US$2 trillion by 2020, adding that the country's growth was an opportunity, rather than a threat, to Southeast Asia.