Ministry issues top trader lists
By Dai Yan (China Daily)
Updated: 2004-05-28 08:46

The Ministry of Commerce yesterday released the list of China's top 200 exporters and 500 largest import-export traders last year in terms of trade volume, which involved larger trading companies and more foreign-invested traders.

Shenzhen-based Hongfujin Precision Industry Co Ltd was China's top exporter last year, recording US$6.42 billion in sales to overseas markets.

Hongfujin is a mainland manufacturing base invested by Taiwan-based Hon Hai Precision Industry Co Ltd, a global leader in providing mechanical solutions.

The top three exporters are all backed by Taiwan-based companies.

Shanghai Dafeng Computer Co Ltd, which is invested by Taiwan Quanta, the world's largest laptop producer, ranks second, and AsusTeK Computer Co Ltd, a subsidiary of major computer producer Asus, is the third-largest.

Sinopec International Co Ltd was China's largest foreign trader in 2003, with a total trading volume of US$15.89 billion.

The 200 largest Chinese exporters exported US$135.58 billion worth of goods, making up 30.9 per cent of China's total exports in 2003.

Meanwhile, China's 500 top foreign traders recorded a trade volume of US$360.6 billion, accounting for 42.4 per cent of China's total foreign trade last year.

Ministry officials said the list indicates that Chinese foreign traders have improved their overall scale and strength.

Average exports of the 200 largest exporters rose to US$677.9 million in 2003 from US$480.88 million in the previous year, while average trade volume of the 500 biggest foreign traders climbed to US$721.22 million to US$514.3 million.

The lowest company making the list of top 200 exporters reached exports of US$231.12 million last year, compared to the US$171.7 million on the previous list.

The bottom line for the 500 largest foreign traders was US$191.37 million, up from the US$141.8 million in 2002.

More foreign-invested companies also appeared on the list as the country relaxed its controls on the import-export business in line with its promises to the World Trade Organization.

Some 99 of the 200 largest exporters were foreign-backed, compared to 87 in 2002.

Foreign-invested companies accounted for 49.5 per cent of the top 200 exporters, while State-owned enterprises represented 35.5 per cent.

For the list involving the 500 largest import-export traders, foreign-funded companies accounted for 54 per cent compared to 31 per cent of the State-owned companies.

Ministry officials said the State-owned companies, which used to monopolize the nation's trading rights, saw their shares dropping during the fierce competition.

Many companies in the fields of electronics, mechanics and high-technology were new entries on the list, or had significantly moved up in ranking. These sectors make up over half of the 200 largest Chinese exporters and just under half of the nation's 500 largest traders.

Most of the companies on the list are still located or headquartered in China's coastal areas. The 200 largest exporters include 163 firms in the east of the country. Among the 500 largest foreign traders, 414 are in the east.

Both parent companies and their majority holdings are taken into account when computing their imports and exports, said officials from the Ministry of Commerce.

China's top 10 import-export traders

1.Sinopec International Co Ltd
2.Shenzhen Hongfujin Precision Industry Co Ltd
3.Shanghai Dafeng Computer Co Ltd
4.Sinochem
5.AsusTeK Computer Co Ltd
6.China Minerals & Metals Group
7.Motorola (China) Electronics Ltd
8.PetroChina
9.Orient International (Holding) Co Ltd
10.Nokia (China) Investment Co Ltd