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New, high-tech products account for nearly 30% of China's foreign trade

China's export and import of new- and high-tech products amounted to $232.5 billion, or 29% of the nation's total foreign trade, in the first five months of this year, according to latest data provided by the Ministry of Commerce. 

The trade volume was 20.2% higher than the same period of last year, ministry sources said. The exports amounted to $125.8 billion, up 24.3% year-on-year, and the imports, $106.7 billion, up 15.8%. The exports made up 28.4% of China's total export volume for the five-month period, while the imports accounted for 29.8% of the nation's total import volume.

In a related development, China's foreign trade in machinery and electronics increased by 21.7% year-on-year to $438.2 billion in the first five months, or 54.7% of the country's total external trade volume for the period. Machinery and electronics exports stood at $254 billion, up 27.5%, and imports at $184.2 billion, up 14.6%. (