Commerce ministry: trade surplus to drop this year
- By He Shan
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China.org.cn, December 19, 2011
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Containers being loaded at Qingdao Port. The share of China's exports in the world's total increased from 4.3 percent in 2001, when China joined the World Trade Organization, to 10.3 percent in 2010. [China Daily] |
China's trade surplus this year may shrink by more than US$30 billion from 2010, Minister of Commerce Chen Deming said, citing contracting demand in developed markets and rising worldwide protectionism.
The surplus will account for about 2 percent of economic growth, within the range "internationally recognized as reasonable," Chen said in a statement released today on the ministry's website.
Exports from September to November were weak, growing 2 percentage points slower than a year earlier, and are likely to remain sluggish through year's end, he said.
"Exports in the first part of 2011 were better than those in the second half, so the growth rate will still look pretty good this year," Chen added.
?Asked about China's entry into an agreement on government procurement, Chen said he hoped China can join as soon as possible but urged negotiators to adopt a more flexible approach to achieve mutually benefit outcomes.
China's business press carried the story above on Monday.
