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China's Role in the Global Economy

 

With a population of 1.3 billion, China has recently become the world’s second largest economy. At the same time, China is the largest exporter of goods and second largest exporter of services in the world. Considering China's influence in international trade, the aim of the Diplomatic Academy of the Ministry of Foreign Affairs, is to keep lectures on China’s economy on the Academy’s radar screen.

As a part of its Economic Education Programme, the Diplomatic Academy of the Ministry of Foreign Affairs hosted a lecture on China's unique position within international trade. The lecture was given by Professor Quinghua Zhu from the Shandong University of Finance and Economics on May 15, 2014.

The presentation showed that excluding computers and telecommunications, China has a trade deficit in “high-tech” products. An interesting and insightful fact for the audience was the ownership structure of exporting companies: approximately 71% is comprised of foreign-owned enterprises, mainly from Hong Kong, Taiwan, Japan and Singapore.

 

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