PESHAWAR, Nov 24: The import of Chinese goods has attracted a substantial amount of investment with a several number of small investors stepping into this new business in the Frontier province during the recent past.

Market sources said the import of Chinese products had registered an extraordinary growth in the recent past as investors had stepped into the import business in NWFP.

A large variety of Chinese products have changed the dynamics of even those markets and bazaars in the Frontier province that were once known for fine quality non-duty paid foreign products of European and Far Eastern regions.

Traders doing business in Peshawar's Karkhano and Shafi markets, known for smuggled goods of fine quality, are now selling Chinese products. Business circles said the import of Chinese goods had become a full-fledged business, luring a large number of smaller investors.

Ibrahim Shinwari, a leading importer of crockery and glassware, said that several small-savers with a saving of Rs500,000 to Rs1 million had made investment in Chinese goods' import. "Number of such people is growing."

Zia-ul-Haq Sarhadi, a customs clearance agent, told Dawn that the business of customs clearing agents was booming because of growing number of importers doing business with China. "Ninety-nine per cent of the total imports being made through the Peshawar dry port of customs are of Chinese goods," Mr Sarhadi said.

Shops and dealers operating in the smuggled goods market of Karkhano have also shifted their businesses to Chinese goods. "Gone are the days when certain importers were known for specific products. Now the business environment has totally changed," Mr Shinwari said.

Market forces said that after the real estate sector, which got boost during the last one year, major investment had been attracted by the Chinese goods' import. There are several instances in which small-savers have pooled their resources and imported a container of Chinese products of different types which are high in demand in the local market.

"One can easily make Rs100,000 by investing around Rs800,000 in a single trip of China," said a shopkeeper of Rawalpindi.