China's exports of mechanical and electrical products decreased significantly

In the first half of 2014, China's exports of mechanical and electrical products declined, and exports of traditional labor-intensive products increased slightly. However, the share of European, American and Japanese markets continued to decline.

According to Zheng Yuesheng, a spokesperson for the General Administration of Customs, from January to June this year, China exported 3.67 trillion yuan of mechanical and electrical products, a decrease of 3.6%, accounting for 56.4% of China's total export value. In the same period, the seven categories of labor-intensive products such as clothing, textiles, footwear, furniture, plastic products, bags, and toys totaled 1.33 trillion yuan, an increase of 1.3%, accounting for 20.4%.

Zheng Yuesheng pointed out that the traditional manufacturing industry, especially the labor-intensive commodities, has accelerated its migration to Southeast Asia and other neighboring countries. Exports of labor-intensive products in China continued to decline in major markets such as Europe, America and Japan. In the first quarter of this year, the share of China's textile and other seven categories of labor-intensive goods in the US market fell by 0.6 percentage points to 44.4%. The market share in the EU and Japan fell by 0.9 and 2.4 percentage points respectively, which were 41.2% and 58.2% respectively.

At the same time, the share of Vietnamese, Mexican, and Indian equivalents in the U.S. market increased by 0.8 and 0.1 percentage points respectively; the share of similar products in Bangladesh, India, and Pakistan in the U.S. and Europe increased by 0.6, 0.3, and 0.4 percentage points respectively; Vietnam The share of similar products in Japan, Bangladesh, and Japan increased by 1, 0.4, and 0.1 percentage points, respectively.