China: China evolves from "world's factory" to "world's market" as imports surge.

Storyline China evolves from "world's factory" to "world's market" as imports surge For years, China has been supplying the world with vast quantities of goods, resulting in a reputation for being "the world's factory." This year, however, China's import market is building momentum as the country's manufacturing sector accelerates its upgrades. The import demand driven by industrial upgrading is particularly pronounced in coastal regions with concentrated industrial clusters. Liu Chun, president, China Chamber of Commerce for Import and Export of Machinery and Electronic Products: "The continued expansion of imports of equipment, components, and raw materials better serves the transformation and upgrading of China's manufacturing sector. Driven by China's massive market demand and industrial upgrading, an increasing number of high-quality global factors are entering China and integrating into its industrial chains, bringing orders and growth opportunities to enterprises worldwide." In the first seven months of this year, China's imports of mechanical and electrical products surged by about 30 percent year on year, accounting for more than 40 percent of the value of the country's total imports. [Restrictions: No access Chinese mainland]