Innovation opens new doors for country's exports

Updated: Jan 11, 2024 By ZHONG NAN and WANG KEJU CHINA DAILY Print
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Wind turbines await shipment overseas at Penglai Port in Yantai, Shandong. TANG KE/FOR CHINA DAILY

The strong export performance of the "new three" — electric vehicles, lithium batteries, and solar cells — has maintained double-digit growth for 14 consecutive quarters, with a year-on-year rise of 41.7 percent to 798.99 billion yuan ($111.82 billion) in the first three quarters of last year, data from the General Administration of Customs, or GAC, show. These exports accounted for 4.5 percent of the nation's total.

With positive factors continuing to be seen in the fourth quarter, China's foreign trade value reached 3.7 trillion yuan in November, a rise of 1.2 percent year-on-year.

Shu Jueting, spokeswoman for the Ministry of Commerce, said, "A stable and improved foreign trade structure relies on a steady increase in volume," adding that external demand has also shown signs of recovery in recent months.

For instance, China's exports to the United States grew by 9.6 percent year-on-year in November, ending a 14-month decline, the ministry said.

Shu said there is a clear recovery momentum in demand for electronics products, including smartphones and home appliances.

Seeking new paths

Zhang Liqun, a researcher at the Development Research Center of the State Council, said that in confronting fierce competition abroad, more Chinese companies are venturing into the uncharted territory of innovation, with their role as primary innovators becoming increasingly prominent.

This emerging trend is exemplified by Suzhou Junion Intelligent Technology Co, a robotic products manufacturer based in Jiangsu province. The company has increasingly focused on technological innovation and expansion in markets overseas, particularly targeting the US and Europe in recent years.

Ge Jianhua, the company's president, said: "Solar power is currently an industry with the biggest demand for industrial robots. In response to customer needs, we aim to develop comprehensive 'unmanned' products, achieving 'robot replacement' in all scenarios."

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