According to a report by Bloomberg on the 8th, the Asian Development Bank said that China has ended its status as Asia's largest exporter of high-tech products. In 2014, China's exports of high-tech products such as medical equipment, aviation and communications equipment accounted for 43.7% of the total exports of high-tech products in Asia from 9.4% in 2000. The proportion of high-tech products exported from Japan fell from 25.5% in 2000 to 7.7%. The share of exports from Southeast Asian countries, including Malaysia and the Philippines, has also declined.
According to the “Asian Economic Integration Report 2015†released by the Asian Development Bank on Tuesday, in 2014, the proportion of low-tech products in China’s exports was 28%, down from 41% in 2000. "Although there are still many key components imported from other countries, China has made great progress in high-tech manufacturing," said Friedrich Neumann, co-director of Asia Economic Research at HSBC.
Wei Shangjin, chief economist of the Asian Development Bank, said that UAVs, smart phones and even high-speed railways made in China are already competitive in the international market. The number of companies engaged in high-tech manufacturing has also fallen from less than 10,000 in 2000. It has tripled and reached nearly 30,000. “We have found that China is catching up fast in the 'standard technology' product field and has begun to make some innovations independently. However, China is still not a global technology leader like the US or Germany.â€
In addition, China is also a leader in exports of low-tech content such as textiles, food and beverage, wood, pulp and paper products. In 2014, China's share of the low-tech products market reached 55.4%, while India ranked second with only 9.4%.
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