Commerce Minister Gao Hucheng says China must improve trade quality

While China was unsurpassed in the quantity of its trade, the nation must now improve the quality of its goods, Commerce Minister Gao Hucheng said yesterday in Beijing, where the National People's Congress is holding its annual meeting.

Being the biggest trading nation was not the same as being a "strong" one, Gao said.

China surpassed the United States as the top trading nation last year, recording exports and imports worth US$4.16 trillion (HK$32.3 trillion). But it had missed its growth targets in the past two years. Gao said he was confident this would change.

"We are fully confident of meeting the 7.5 per cent trade-growth target in 2014," he said. "The developed economies have begun recovering, with demand expected to slowly grow, which will bolster China's exports."

Gao's comments highlighted the challenges ahead for China to improve the quality of its exports after decades of being the "world's factory" known for churning out low-end products cheaply. It was now time for manufacturers to boost their competitiveness.

"Most of the products we export are low value-added, and few carry their own brands. Our companies also lag in building global marketing networks and strategies," he told reporters. "These are problems we must face and solve while we make the transition from a big trading nation to a strong one. This will involve a process of structural adjustment and a transformation in our growth methods."