The Chinese mainland's foreign trade passed the US$1 trillion
mark through November, putting the nation on track to become the
world's third-largest trading power this year, Ministry of
Commerce?spokesman Chong Quan said Thursday.
According to the General Administration of Customs, the mainland
recorded trade worth US$1.0 trillion from January to November, with
a surplus of US$20.8 billion.
Chong cited rapid economic growth and the recovering world
economy as key factors that have pushed up China's foreign trade
over the past decades. Reforms in the country's trading market,
increasing foreign investment and the WTO entry have also
contributed to blistering trade growth.
China was the world's fourth-largest trading power by the end of
last year, behind only the United States, Germany and Japan.
Chong said that China has helped to buoy the increase in
international trade, contributing 11.3 percent to its growth in
2003.
China's exports also benefit consumers in other countries.
The country's imports are also playing an increasingly important
role in advancing the global economy and benefiting trading
partners.
However, China is far from being a strong trading power, given
its meager per-capita trade volume and the low overall
competitiveness of its exports, Chong said.
(China Daily December 10, 2004)