U.S. Third In Tech Exports To ChinaU.S. Third In Tech Exports To China

The U.S. was the third largest exporter of technology to China's growing market in 2006, trailing Europe and Japan, the country's Ministry of Commerce reports.

Overall, the ministry registered $22.02 billion worth of contracts with foreign tech companies, up 15.6 percent from 2005. China hit a new high in tech imports last year, officials said.

European Union companies signed $8.66 billion in contracts, accounting for 39.3 percent of the total value of imports. Japanese and U.S. companies sold $5.24 billion and $4.23 billion in technology, respectively, or 23.8 percent and 19.2 percent of the total.

Chinese enterprises with foreign investors imported $11.3 billion in technology, accounting for more than half of the total. State-owned enterprises spent $8.99 billion, down a bit from a year ago to 40.8 percent of the total.

The sectors that bought the most technology were electronic, telecommunication and transportation equipment manufacturers and railway transportation, the ministry said in the report released Thursday. Telecom equipment makers were the leading importers, spending $4.15 billion, or 18.9 percent of the total value of imports.