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Share of Korea’s IT products Exceeds 20% in Chinese IT Import Market

According to Yonhap News,

(SEOUL=Yonhap News) Korea’s IT products accounted for 20.3 percent of the Chinese IT import market from January to September, 2015, according to a report on the key details of China’s 13th five-year plan and implications on the Korean companies by the Beijing office of the Korea International Trade Association.

The market share of Korea’s IT products has been on the rise since 2011 (17.6 percent).

Korea’s IT product exports to China increased from USD 82.1 billion in 2011 to USD 103.7 billion in 2014. Korea overtook Taiwan and became the biggest player in the Chinese IT import market in 2013.

The report introduced strategies for Korean companies to respond to the 13th five-year plan (2016~2020) of China.

Korea’s investment in China still focuses on the manufacturing industry at a time when the Chinese government strives to promote a service-oriented growth, according to the report.

The share of foreign investment in the Chinese service market increased from 47.3 percent in 2010 to 62 percent in 2014.

Copyrights Yonhap News. All Rights Reserved.

Source Text

Source: Yonhap News (Jan. 10, 2016)

** This article was translated from the Korean.
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