China's foreign trade volume of high-tech products maintained a rapid growth for three consecutive years and exceeded US$326.97 billion in 2004, up 43.8 percent year-on-year, sources with Chinese Ministry of Commerce (MOC) said in Beijing Wednesday.

China's import of high-tech products reached US$161.43 billion and export stood at US$165.54 billion, up 35.3 percent and 50.2 percent respectively, the MOC said.

The increase of foreign trade volume of high-tech products accounted for 35.5 percent of China's total foreign trade volume, the Ministry said.

The tax rebates system also helped promote the development of high-tech companies. In 2004, the growth of high-tech products' export was 15 percent higher than that of import, the Ministry said, stressing high-tech products achieved trade surplus of US$4.11 billion for the first time in 2004.

Tax administrations at various levels paid a total of 420 billion yuan (US$51 billion) in tax rebates for China's exporters last year, up 106 percent year-on-year, according to figures released by the State Administration of Taxation Tuesday.

Meanwhile, the United States and Europe remained the top markets for China's exported high-tech products last year, the Ministry revealed.

The ministry also ascribed the rapid rise of foreign trade in high-tech sector to the steady recovery of world economy, increasing investment of international IT industry in China, positive impact of the country's entry to the World Trade Organization and Chinese local governments' support to high-tech industry.

(Xinhua News Agency January 13, 2005)