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Since China's World Trade Organization entry, Chinese firms could well play big roles in the global purchasing business of transnational companies, a top Chinese foreign trade official said on Tuesday.
"Chinese companies have successfully joined Walmart's buying links, and they could well do more such things in the future," SunPeng, deputy head of the foreign investment department of China's Ministry of Foreign Trade and Economic Cooperation (MOFTEC), said at the ongoing sixth China International Fair for Investment and Trade in Xiamen city, in southeastern China's Fujian province.
Sources said Walmart, the world's leading retailer, made 10 billion US dollars worth of direct and indirect purchases in China in 2001. Satisfied with Chinese goods and products, the company had even established its global purchasing center in south China's Shenzhen City.
Walmart is one of a large number of transnational companies that have started or planned to put Chinese products on their global purchasing lists.
Attending the fair in Xiamen, Christopher Galvin, chairman of the board of directors and chief executive officer of Motorola, announced Motorola would buy a total of 10 billion US dollars worth of parts, components and services from China by 2006.
The company spent 13.3 billion yuan (about US$1.6 billion) on Chinese products in 2001, 3.3 billion yuan (about US$397.6 million) of which were for its operations outside China. So far, 700-odd Chinese companies are on its list of suppliers.
General Electric, HP, Dell and Kodak have recently announced plans to set up purchasing centers in China.
(Xinhua News Agency September 11, 2002)
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