China purchased a record amount of technology in 2006, with Europe accounting for almost 40 per cent of total imports, China’s Ministry of Commerce said yesterday.
China’s imports totalled $22.02 billion (£11.3bn), up 15.6 per cent over 2005 spending. Of that number, $14.76 billion (£7.57bn) was spent on technology licensing and other fees, or 67 per cent of total spend, the ministry said.
Nations in the EU were the leading technology exporters to China, with total trade valued at $8.66bn (£4.44bn). Japan placed second with 23.8 per cent of technology orders with a value of $5.24bn (£2.69bn). The US was China’s third-largest technology exporter, with $4.23bn (£2.17bn) worth of goods and services and 19.2 per cent of total imports, the ministry said.
More than half of the technology imported went to foreign-invested enterprise, $11.3bn (£5.8bn) worth. China’s state-owned enterprises accounted for $8.99bn (£4.61) and 40.8 per cent of total technology imported.
The Ministry of Commerce said that the technology included electronic and telecommunication equipment, and railway transportation and transport equipment