In a speech delivered at the 5th Member Representative Meeting of the China Light Industry Arts & Crafts Import and Export Chamber of Commerce today, Assistant Minister of Commerce Wang Chao highlighted the impressive growth of China's foreign trade in light industrial products. He emphasized that sectors such as footwear, furniture, bags, toys, glassware, and ceramics have seen remarkable expansion, with China consistently leading the world in the export volume of these goods.
Wang Chao noted that the light industry and handicrafts sector has long been a key driver of China's foreign trade development. He pointed out that in 2001, the total value of imports and exports in this sector reached $110.356 billion, and by 2008, it had surged to $421.38 billion, reflecting an average annual growth rate of 8% over those eight years. This steady increase underscores the sector’s resilience and its significant contribution to the national economy.
However, the global financial crisis had a noticeable impact on the industry. From January to November last year, the total import and export volume of light industry arts and crafts fell by 9.36% compared to the same period in the previous year. Despite this setback, Wang Chao expressed confidence in the sector’s ability to recover and continue playing a vital role in China’s trade landscape. He called for continued innovation, quality improvement, and market diversification to ensure long-term sustainability and competitiveness in the global market.
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