Data released by the U.S. Department of Commerce reveals U.S. small and medium-sized enterprises (SMEs) exporting to China increased by 41% from 1999 to 2002, expanding from 10,086 companies to 14,270.
With the number of SME’s exporting to China increasing over 300%, China is now the fastest-growing export destination for American business. SMEs make up 87% of the more than 16,000 U.S. exporters selling into China.
“Ninety-five percent of the world’s consumers live outside of the United States," said Commerce Deputy Secretary David Sampson, "and more U.S. companies are looking to increase their bottom line by exporting and making new sales to China. Exporting helps companies grow and compete by enabling them to diversify their portfolios and weather changes in the domestic economy.”
Sampson is currently on a five-day trip to Beijing , Shenzhen and Guangzhou, China and will participate in the China-U.S. Summit where he will meet with high-level Chinese government officials.