China to increase exports to emerging markets, US, EU imports to rise

CHINESE exports are expected to increase to India by 20 per cent and by 18 per cent to Vietnam within three years, say HSBC analysts.

Market focus has shifted from Europe and the US to intra-Asia, notably the Indian subcontinent, the Middle East and Africa with exports to Africa to grow 14 per cent next year, they said.

Beijing is urging manufacturers to increase its international market coverage which might be attributed to slower development of its sales and marketing networks, reports China Daily.

Imports to China are expected to rise 10 per cent from the US and Europe due to Chinese middle class consumers doubling to 200 million by 2020. Discretionary spending is forecast to increase to 36 per cent in 2013 compared to American levels of 11 per cent and Europeans at eight per cent and Japanese at five.