The biggest challenge that Chinese export businesses face next to currency is compliance with the “technical barriers to trade,” the international product standards issued by the WTO. According to the National Bureau of Quality Inspection, 36.1 percent of export businesses failed to comply with the WTO’s “Technical Barriers to Trade.” In 2008, they suffered financial losses of US$50.5 billion.
Research data suggests that the top five countries or regions that affect China’s export businesses are the EU, U.S., Japan, Russia and Latin American countries. The top five businesses that suffered the most are electric parameters, agricultural production, textiles/garments/shoes/hats, and wood/paper/non-metasl and chemicals/minerals/metals.
Source: Xinhua, June 25, 2009