Processing trade, once a key component of the country’s external trade, is being overtaken gradually by other trading activities with higher added-value, the Beijing Business Today reported Friday, citing Ministry of Commerce spokesperson Shen Danyang. For the nine months to September, the country’s general trade imports and exports rose 7.8 percent year on year to US$1.6162 trillion, accounting for 52.8 percent of total trade during the period. Meanwhile, processing trade imports and exports only grew 0.7 percent to US$989.43 billion, making up for 32.3 percent of overall trade. Processing trade accounted for nearly half of the country’s overall trade in the six years between 2002 and 2007, but has since dropped to 34.8 percent in 2012 under the country’s strategy to move away from low added-value trade, the report said.
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