The impact of trade and technical barriers on Shenzhen exports has increased as foreign countries have been increasingly engaging in trade protectionism since the onset of the global financial crisis.
According to the latest report by the city's standards and technology research center released Thursday, 55 percent of Shenzhen exporters were affected by foreign Technical Barriers to Trade (TBT) last year and trade losses throughout the year amounted to USD13.4 billion.
TBT of the United States led to USD2.8 billion in losses incurred by Shenzhen firms, while the European Union's technical trade barriers cost Shenzhen firms about USD2.6 billion. Other countries that used TBT to impose restrictions on Shenzhen exports included Japan and ASEAN nations.
Nineteen batches of toys and lighting produced by Shenzhen exporters were recalled from the United States, Canada and European countries last year. Exporters engaged in the electronics and garment industries incurred the most losses, according to the report.
"Shenzhen is highly export-oriented and exporters faced unprecedented difficulties last year due to technical trade barriers of foreign countries," said Li Meng, a deputy director of the research center.
Canceling orders was most often used by foreign buyers to block Shenzhen exports last year and other ways included rejecting or degrading the goods, Li said.
Foreign trade friction may worsen this year, which is expected to be more difficult for Shenzhen exporters, according to Zhang Jinsheng, director of Shenzhen's WTO affairs center.
"The city government is keeping a close eye on possible foreign trade risks," Zhang said. "We've set up about 40 foreign trade affairs workstations across the city in order to help local firms settle related problems."
According to the latest report by the city's standards and technology research center released Thursday, 55 percent of Shenzhen exporters were affected by foreign Technical Barriers to Trade (TBT) last year and trade losses throughout the year amounted to USD13.4 billion.
TBT of the United States led to USD2.8 billion in losses incurred by Shenzhen firms, while the European Union's technical trade barriers cost Shenzhen firms about USD2.6 billion. Other countries that used TBT to impose restrictions on Shenzhen exports included Japan and ASEAN nations.
Nineteen batches of toys and lighting produced by Shenzhen exporters were recalled from the United States, Canada and European countries last year. Exporters engaged in the electronics and garment industries incurred the most losses, according to the report.
"Shenzhen is highly export-oriented and exporters faced unprecedented difficulties last year due to technical trade barriers of foreign countries," said Li Meng, a deputy director of the research center.
Canceling orders was most often used by foreign buyers to block Shenzhen exports last year and other ways included rejecting or degrading the goods, Li said.
Foreign trade friction may worsen this year, which is expected to be more difficult for Shenzhen exporters, according to Zhang Jinsheng, director of Shenzhen's WTO affairs center.
"The city government is keeping a close eye on possible foreign trade risks," Zhang said. "We've set up about 40 foreign trade affairs workstations across the city in order to help local firms settle related problems."
