Toy firm set to play abroad_美文_趣味英语-查字典英语网

Toy firm set to play abroad

Overseas sales currently account for only one-third of the company's total, Hu said.

Sources with Guangdong foreign trade and economic department said that exports of self-innovated products made in Guangdong currently account for 40 percent of the province's total export volume.

Provincial government sources said the percentage of exports of self-innovated products will increase to 80 percent in the next three years due to the province's efforts to upgrade its traditional manufacturing industries.

Guangdong's trade reached $715.62 billion in the past three quarters, an annual increase of 6.1 percent.

The province's exports grew by 6.4 percent year-on-year to reach $417 billion in the first nine months, accounting for 27.9 percent of the country's total.

"For more than two decades, Guangdong has been in the lead position in economic growth, given that it has developed as one of the major manufacturing bases in the world," said Feng Shengping, chief researcher at the Guangdong Situation Research Center. "But the era of high economic growth, which mainly depended on traditional manufacturing, has passed."

Industrial upgrading will be accelerated when the government shifts its focus from achieving high economic growth to innovation and developing high-end industries, Feng added.

Guangdong's GDP growth rate is expected to fall below 10 percent this year due to a harsh process of industrial upgrading amid the global economic downturn, Feng said.