China’s exports of railway equipment surge
Print Edition
CHINA saw a surge in export of railway equipment as industry leaders actively explore overseas markets, official data showed yesterday.
China exported 26.77 billion yuan (US$4.3 billion) worth of railway equipment last year, surging 22.6 percent year on year, according to data from the General Administration of Customs.
In December, the exports were valued at 2.81 billion yuan, a surge of 42.3 percent from the same period a year earlier.
Customs spokesman Zhang Guangzhi attributed the rapid growth to China’s manufacturing competitiveness in the sector as well as domestic firms’ efforts to tap the global market.
So far, China has exported its railway technology to more than 30 countries and regions, including ASEAN, Argentina, Australia and the US.
The overseas foray was mainly led by state-owned firms, with their exports taking up around 70 percent of the total value, according to customs data.
Chinese railway equipment companies have thrived due to cost advantage and shorter delivery time.
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